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315 Burke Dr 12,888 SF 100% Leased Flex Building Morganton, NC 28655 $2,140,023 CAD ($166.05 CAD/SF) 7.27% Cap Rate
Executive Summary
Current lease term runs through June 2028 with 3% annual contractual rent escalations and a renewal option extending through June 2031
Tenant occupies 100% of the building, minimizing rollover risk and operational complexity
Functional layout includes approximately 4,224 SF of office space and 8,664 SF of climate controlled warehouse/light manufacturing space
Property features 3 drive in roll up doors and 3 phase power supporting a wide range of industrial and service users
Immediate access to U.S. Highway 70 with connectivity to the Hickory–Lenoir–Morganton MSA and regional industrial corridors
Current NOI approximately $112,723
Asking Price: $1,550,000
Approximately $120.27/SF
Attractive opportunity for investors seeking stable in place cash flow with future upside through contractual rent growth and excess land utilization
Tenant occupies 100% of the building, minimizing rollover risk and operational complexity
Functional layout includes approximately 4,224 SF of office space and 8,664 SF of climate controlled warehouse/light manufacturing space
Property features 3 drive in roll up doors and 3 phase power supporting a wide range of industrial and service users
Immediate access to U.S. Highway 70 with connectivity to the Hickory–Lenoir–Morganton MSA and regional industrial corridors
Current NOI approximately $112,723
Asking Price: $1,550,000
Approximately $120.27/SF
Attractive opportunity for investors seeking stable in place cash flow with future upside through contractual rent growth and excess land utilization
Property Facts
| Price | $2,140,023 CAD | Building Class | C |
| Price Per SF | $166.05 CAD | Lot Size | 3.99 AC |
| Sale Type | Investment | Rentable Building Area | 12,888 SF |
| Cap Rate | 7.27% | No. Stories | 1 |
| Property Type | Flex | Year Built | 1990 |
| Property Subtype | Light Manufacturing | No. Drive In / Grade-Level Doors | 3 |
| Zoning | EID | ||
| Price | $2,140,023 CAD |
| Price Per SF | $166.05 CAD |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | C |
| Lot Size | 3.99 AC |
| Rentable Building Area | 12,888 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | EID |
Amenities
- Air Conditioning
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 31861 | Improvements Assessment | $640,356 CAD |
| Land Assessment | $123,373 CAD | Total Assessment | $763,729 CAD |
Property Taxes
Parcel Number
31861
Land Assessment
$123,373 CAD
Improvements Assessment
$640,356 CAD
Total Assessment
$763,729 CAD
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315 Burke Dr
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