111 Sunset Ave
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111 Sunset Ave
3,960 SF 100% Leased Office Building Asheboro, NC 27203 $600,000 ($152/SF) 5.30% Cap Rate
Executive Summary
Almost 4000 sq ft downtown Asheboro NC. 100% occupied with long-term tenants. Rental Increase for 2025 in place. Rents are below market value so there is room to increase Cap Rate.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$39,000
|
$9.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$39,000
|
$9.85
|
| Taxes |
$2,000
|
$0.51
|
| Operating Expenses |
$5,200
|
$1.31
|
| Total Expenses |
$7,200
|
$1.82
|
| Net Operating Income |
$31,800
|
$8.03
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $39,000 |
| Annual Per SF | $9.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $39,000 |
| Annual Per SF | $9.85 |
| Taxes | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.51 |
| Operating Expenses | |
|---|---|
| Annual | $5,200 |
| Annual Per SF | $1.31 |
| Total Expenses | |
|---|---|
| Annual | $7,200 |
| Annual Per SF | $1.82 |
| Net Operating Income | |
|---|---|
| Annual | $31,800 |
| Annual Per SF | $8.03 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
3,960 SF
Building Class
C
Year Built/Renovated
1921/2022
Price
$600,000
Price Per SF
$152
Cap Rate
5.30%
NOI
$31,800
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,980 SF
Slab To Slab
12’
Building FAR
1.14
Lot Size
0.08 AC
Zoning
B3 - B3: Central Business District – To accommodate a mixture of commercial, governmental, administrative, office, and service uses within the traditional
Amenities
- 24 Hour Access
- Central Heating
- High Ceilings
- Open-Plan
- Drop Ceiling
- Air Conditioning
1 of 1
Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $3,447,560 | |
| Land Assessment | $459,500 | Annual Taxes | $2,000 ($0.51/SF) |
| Improvements Assessment | $2,988,060 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$459,500
Improvements Assessment
$2,988,060
Total Assessment
$3,447,560
Annual Taxes
$2,000 ($0.51/SF)
Tax Year
2024
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Jsmreaa Properties
111 Sunset Ave
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