1224 NW 19th St Ln
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1224 NW 19th St Ln
5,000 SF 100% Leased Office Building Hickory, NC 28601 £665,083 (£133/SF) 7.20% Net Initial Yield
Investment Highlights
- Located less than 0.2 miles from major highway 301.
- Recent capital expenditures on 3 out of 5 mechanical systems.
- One of three office building within the Summit offices.
Executive Summary
Great opportunity to obtain a multi-tenant all brick office building in the growing town of Hickory North Carolina with stable income. One tenant has been there for over 10 years and just renewed for 5 years beginning April 2024 with annual escalations. Recent 2023 Q4 -2024 capital expenditures include replacing three (3) out of 5 heat pumps, all under warranty.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
5,000 SF
Building Class
B
Year Built
1996
Price
£665,083
Price Per SF
£133
Net Initial Yield
7.20%
NOI
£47,917
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
5,000 SF
Building FAR
0.89
Lot Size
0.13 AC
Zoning
COM - Commercial
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PROPERTY TAXES
| Parcel Number | 2793116566630000 | Total Assessment | £347,643 |
| Land Assessment | £57,432 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £290,211 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2793116566630000
Land Assessment
£57,432
Improvements Assessment
£290,211
Total Assessment
£347,643
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
1 of 3
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Presented by
Casey Miller
1224 NW 19th St Ln
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