1138 N Road Street, Elizabeth City, NC 27909 (MLS# 8106671)
1138 N Road Street, Elizabeth City, NC 27909
$1,374,000
Property Type:
Comm Sale or Lease
Square Footage:
5,675
Lot Size (sq. ft.):
32,486
Status:
Closed
Current Price:
$1,374,000
List Date:
1/25/2022
Last Modified:
4/14/2023
Description
Fully leased 5,675 sq ft medical building built in 1994 and renovated in 2019 leased for $22/sq ft ($124,850/yr) to Chesapeake Regional Medical Group through April 30, 2026. LL expenses include $8478.36/yr in property tax, $5,715/yr in insurance, LL responsible for structural issues, exterior glass, major HVAC repairs (compressors, units, fan motors) and common areas like hallways and restrooms. No expenses other than taxes and insurance for LL since 2019. NOI for 2021 was $110,656.64 making this slightly higher than an 8% cap rate. 2 New HVAC's in 2017, roof in 2018, paint/flooring in 2019., Property is for rent, est Taxes 14991.20, Neighborhood - About 200 yards South of Sentara Hospital, Current Lease Chesapeake Regional Medical Group, Annual Income is 124850.00
More Information MLS# 8106671
Contract Info
Status: Closed
Marketing Start Date: 2022-01-25
Sale/Lease: Sale
Listing Price: 1375000
Current Price: $1,374,000
List Price/SqFt: 242.29
Location Information
Street #: 1138
Pre Direction: N
Street Name: Road
Street Suffix: Street
County: Pasquotank
State/Province: NC
Zip Code: 27909
City Limits: Yes
Geo Lat: 36.320527
Geo Lon: -76.218906
Remarks and Showing
Directions to Property: Heading North on N Road Street/Hwy 17 business from EC the building is on the right before you get to Sentara Albemarle Medical Center.
Sign on Property: No
BuildingExt Features
SqFt - Heated (Primary): 5675
Legal and Taxes
Tax Assessed Value: 992800
Deed Book: 832
Deed Page: 689
PID: 891412962936
Plat Book: DB500
Special Assessments: No
Tax Year: 2022
Year Built: 1994
Zoning: O&I
Status Change Info
Under Contract Date: 2022-02-28
Sold Price: $1,374,000
Sold Date: 2022-02-28
Miscellaneous
Current Use: Medical/Dental
Current Service Providers
Electric Provider: City of Elizabeth City
Financial Info
Total Annual Expenses: 14193.36
Property Features
Construction: Brick/Stone
Flooring: Carpet; Tile; See Remarks
Foundation: Slab
Roof: Composition
Lot Water Features: None
Cooling: Central Air
Heating: Heat Pump
Utilities: Electricity Connected; Natural Gas Available; Water Available
Sewer: Municipal Sewer
Water Source: Community Water
Lease Terms: 1 Year or More
Lease Types: NN
Listing Office: Rich Company
Last Updated: April - 14 - 2023
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