111 Sunset Ave
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111 Sunset Ave
3,960 SF 100% Leased Office Building Asheboro, NC 27203 $864,192 CAD ($218 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$56,172
|
$14.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$56,172
|
$14.18
|
| Taxes |
$2,881
|
$0.73
|
| Operating Expenses |
$7,490
|
$1.89
|
| Total Expenses |
$10,370
|
$2.62
|
| Net Operating Income |
$45,802
|
$11.57
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $56,172 |
| Annual Per SF | $14.18 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $56,172 |
| Annual Per SF | $14.18 |
| Taxes (CAD) | |
|---|---|
| Annual | $2,881 |
| Annual Per SF | $0.73 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $7,490 |
| Annual Per SF | $1.89 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $10,370 |
| Annual Per SF | $2.62 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $45,802 |
| Annual Per SF | $11.57 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
3,960 SF
Building Class
C
Year Built/Renovated
1921/2022
Price
$864,192 CAD
Price Per SF
$218 CAD
Cap Rate
5.30%
NOI
$45,802 CAD
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
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $4,906,705 CAD | |
| Land Assessment | $653,979 CAD | Annual Taxes | $2,881 CAD ($0.73 CAD/SF) |
| Improvements Assessment | $4,252,726 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$653,979 CAD
Improvements Assessment
$4,252,726 CAD
Total Assessment
$4,906,705 CAD
Annual Taxes
$2,881 CAD ($0.73 CAD/SF)
Tax Year
2024
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Jsmreaa Properties
111 Sunset Ave
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