Ignite FB Tracking Pixel94 Glenn Bridge Road, Arden, NC 28704 - Carolina Life Properties
Carolina Life Properties LLC
Carolina Life Properties LLC
Carolina Life Properties
Email: [email protected]
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listing
1 of 4
CommercialFor Sale
$9,500,000
94 Glenn Bridge Road
Arden, NC 28704
Listed by: Pulliam Properties, Inc, 908-578-4750
MLS: Canopy MLS
Est. Mortgage
$49,137/mo

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.

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Information courtesy of Pulliam Properties, Inc is subject to verification and is not guaranteed.
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