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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.

Property Details of 94 Glenn Bridge Road

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Listed by Steven Shepard of Pulliam Properties,Inc

Arden, NC Demographics

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Arden, NC Schools

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