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Rutherford Business Center | West ofCharlotte 500 West St 11,809 SF 83% Leased Office Building Spindale, NC 28160 $2,374,750 CAD ($201.10 CAD/SF) 8.96% Cap Rate
Investment Highlights
- 11,809-SF, Two Story, Class-A Multi-Tenant Office Building On +/-3.50 Acre Lot With Lighted Parking Lot (120 Surface Spaces) With New Lobby Carpeting
- USDA Recently Renewed Their Lease for 10 Years, Carolina Home Care Has 2.5+ Years Remaining With 2, 5-Year Renewal Options and 2.5% Annual Increases
- +/-10.50 Acres of Flat Land on Adjacent Parcel Also For Sale | Residential Zoning With Frontage Along Railroad Ave/US-74 Alt
- 83% Occupied by USDA Farm Services Bureau and Carolina Home Health, United Healthcare Parent Company
- Leasing Upside: 2,000-SF Vacancy on 2nd Floor | Open Floor Plan With High Ceilings, Large Windows and Elevator Access | High Speed Fiber Internet
Executive Summary
Surface Spaces. 83% Occupied by USDA Farm Services Bureau and Carolina Home Health, United Healthcare Parent Company.
New Carpet Being Installed in the Lobby in July, 2025
Located Southeast of Asheville, NC
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$333,994
|
$28.28
|
| Other Income |
$59,877
|
$5.07
|
| Vacancy Loss |
$19,694
|
$1.67
|
| Effective Gross Income |
$374,177
|
$31.69
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$144,794
|
$12.26
|
| Net Operating Income |
$229,383
|
$19.42
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $333,994 |
| Annual Per SF | $28.28 |
| Other Income (CAD) | |
|---|---|
| Annual | $59,877 |
| Annual Per SF | $5.07 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $19,694 |
| Annual Per SF | $1.67 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $374,177 |
| Annual Per SF | $31.69 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $144,794 |
| Annual Per SF | $12.26 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $229,383 |
| Annual Per SF | $19.42 |
Property Facts
Amenities
- 24 Hour Access
- Conferencing Facility
- Security System
- Kitchen
- Central Heating
- Fully Carpeted
- High Ceilings
- Natural Light
- Partitioned Offices
- Reception
- Drop Ceiling
- Wi-Fi
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Carolina Home Care
- Health Care and Social Assistance
- 5,000 SF
- $23.70 CAD
- Modified Gross
- Apr 2028
-
- Public Administration
- 4,809 SF
- $34.57 CAD
- Modified Gross
- Aug 2035
The United States Department of Agriculture is a cabinet-level federal agency responsible for developing and administering policies related to agriculture, food safety, nutrition, forestry, and rural development in the United States. The department was established in 1862 after President Abraham Lincoln signed legislation creating a federal agricultural agency, which he referred to as “The People’s Department.” It attained cabinet status in 1889. USDA’s responsibilities span domestic and international agricultural markets, food assistance and nutrition programs, conservation of natural resources, scientific research, and support for rural communities. The department oversees numerous agencies and mission areas, including food safety inspection, farm production and conservation programs, forestry management, agricultural research, and nutrition assistance.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Carolina Home Care | Health Care and Social Assistance | 5,000 SF | $23.70 CAD | Modified Gross | Apr 2028 | |
|
|
Public Administration | 4,809 SF | $34.57 CAD | Modified Gross | Aug 2035 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Class A office space located one hour west of Charlotte, one hour east of Asheville, one hour north of Greenville/Spartanburg, SC. In excellent condition. Can upfit to tenant specifications. Near schools, banks, retail and restaurants including Starbucks, McDonald's, Jersey Mike Subs, Chick-fil-A. Dedicated parking field. Flexible lease and terms. Tax credits and grants may be available for new investment and job creation.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste B | 2,000 SF | Office | Full Build-Out | Now |
2nd Fl-Ste B
| Size |
| 2,000 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste B
| Size | 2,000 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Class A office space located one hour west of Charlotte, one hour east of Asheville, one hour north of Greenville/Spartanburg, SC. In excellent condition. Can upfit to tenant specifications. Near schools, banks, retail and restaurants including Starbucks, McDonald's, Jersey Mike Subs, Chick-fil-A. Dedicated parking field. Flexible lease and terms. Tax credits and grants may be available for new investment and job creation.
Property Taxes
| Parcel Number | 1646373 | Improvements Assessment | $1,154,927 CAD |
| Land Assessment | $328,649 CAD | Total Assessment | $1,483,575 CAD |
Property Taxes
Presented by
Rutherford Business Center | West ofCharlotte | 500 West St
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