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Peak Performance Physical Therapy 1202 E Main St 14,400 SF Office Building Havelock, NC 28532 $2,502,486 CAD ($173.78 CAD/SF) 9% Cap Rate
Investment Highlights
- Close to MCAS Cherry Point
Executive Summary
Stable Cash Flow: Anchored by Peak Performance Sports & Physical Therapy, a strong regional medical tenant with 14 locations, on a new 10-year lease commencing May 2025.
Diverse Tenancy: Current occupancy at 83%, with three tenants in place including medical, educational, and wellness uses, and one vacant suite offering lease-up potential.
Long-Term Tenancy: Peak Performance, and Kidz Choice just signed 10 year leases, putting the WALT of occupied space to 8.69 years.
Value-Add Opportunity: 2,600 SF of vacancy allows for additional rental income upside and improved overall yield.
Favorable Market Fundamentals: Competitive price per square foot of $132.99 which is well below replacement cost.
Close to MCAS Cherry Point: Minutes from one of the nation’s largest Marine Corps air stations, supporting over 23,000 military personnel and families and driving strong local demand.
Diverse Tenancy: Current occupancy at 83%, with three tenants in place including medical, educational, and wellness uses, and one vacant suite offering lease-up potential.
Long-Term Tenancy: Peak Performance, and Kidz Choice just signed 10 year leases, putting the WALT of occupied space to 8.69 years.
Value-Add Opportunity: 2,600 SF of vacancy allows for additional rental income upside and improved overall yield.
Favorable Market Fundamentals: Competitive price per square foot of $132.99 which is well below replacement cost.
Close to MCAS Cherry Point: Minutes from one of the nation’s largest Marine Corps air stations, supporting over 23,000 military personnel and families and driving strong local demand.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
14,400 SF
Building Class
B
Year Built
2006
Price
$2,502,486 CAD
Price Per SF
$173.78 CAD
Cap Rate
9%
NOI
$225,224 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,400 SF
Building FAR
0.21
Lot Size
1.60 AC
Zoning
C - Commercial
Parking
71 Spaces (4.93 Spaces per 1,000 SF Leased)
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Somewhat walkable
30/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 6-101-134 | Improvements Assessment | $1,155,002 CAD |
| Land Assessment | $226,294 CAD | Total Assessment | $1,381,295 CAD |
Property Taxes
Parcel Number
6-101-134
Land Assessment
$226,294 CAD
Improvements Assessment
$1,155,002 CAD
Total Assessment
$1,381,295 CAD
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Peak Performance Physical Therapy | 1202 E Main St
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