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INCOME PRODUCING OFFICE BUILDING AVAILABLE! Looking for investment property? This 1928 built historic building is available right now. This exclusive property offers 14 leased offices, with shared conference room, and a full open basement, and is located in a highly visible area on the corner of Harper Ave and Main St in Lenoir's Historic Downtown District.This property has a current GRM of 8.6% and a CAP rate of 11.5%. Current owners purchased as an improvement project and have made numerous improvements, including updating bathrooms, replacing flooring and windows, and updating HVAC systems. See listing docs for a complete list of improvements completed. They have also worked to bring rates up to market value, [currently lease rates are approx. 80% of market value], and have reduced vacancy rate to ZERO. They are only listing for 90 days, to pursue another opportunity. So, if you're interested in a historic, classically designed, income producing office building, act fast!
Listed by Stephenie Deesy of Mountainside Realty,LLC (stephenie@lifeinwnc.com)

Listing Sold by Baker Realty

Property Details of 101 Sw Main Street Se

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