Complete the form below to send an email with a link to 94 Glenn Bridge Road, Arden, NC 28704.
Rare opportunity to purchase an exceptionally well located, large warehouse/production building on 17.4 acres, with land approved for additional development. Prime Arden location.
The existing single tenant lease (47 months remains/ no renewal rights) is dramatically below fair market.
Current fair market rent of $7.50 psf would produce income of $900,000/ year, a forward CAP rate of 10%, exclusive of surplus land value.
The approximately 6.5 acres of surplus land fronting Old Shoals Rd has been approved for construction of an additional 93,000/sf. This land could also readily accommodate climate controlled self-storage or apartment construction. FMV of the surplus land is $250,000/ acre, or better.
Agency Name: Pulliam Properties, Inc
Agency Phone: 828-684-4344
Agency Title: Craven & Company Realtors
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