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Rutherford Business Center | West ofCharlotte 500 West St 11,809 SF 83% Leased Office Building Spindale, NC 28160 $2,419,375 CAD ($204.88 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 |
$337,768
|
$28.60
|
| Other Income |
$60,554
|
$5.13
|
| Vacancy Loss |
$19,916
|
$1.69
|
| Effective Gross Income |
$378,405
|
$32.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$146,430
|
$12.40
|
| Net Operating Income |
$231,975
|
$19.64
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $337,768 |
| Annual Per SF | $28.60 |
| Other Income (CAD) | |
|---|---|
| Annual | $60,554 |
| Annual Per SF | $5.13 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $19,916 |
| Annual Per SF | $1.69 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $378,405 |
| Annual Per SF | $32.04 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $146,430 |
| Annual Per SF | $12.40 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $231,975 |
| Annual Per SF | $19.64 |
PROPERTY FACTS Under Contract
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
- $23.97 CAD
- Modified Gross
- Apr 2028
-
- Public Administration
- 4,809 SF
- $34.96 CAD
- Modified Gross
- Aug 2035
The United States Department of Agriculture (USDA) is a cabinet-level agency of the federal government established on May 15, 1862. It develops and implements policies related to agriculture, food safety, nutrition, natural resources, and rural development. USDA operates through multiple mission areas, including food and nutrition services, farm production, conservation, and research. The department administers programs such as the Supplemental Nutrition Assistance Program and oversees food safety through the Food Safety and Inspection Service. It also manages national forests and grasslands via the U.S. Forest Service.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Carolina Home Care | Health Care and Social Assistance | 5,000 SF | $23.97 CAD | Modified Gross | Apr 2028 | |
|
|
Public Administration | 4,809 SF | $34.96 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 | $1,179,503 CAD |
| Land Assessment | $335,642 CAD | Total Assessment | $1,515,146 CAD |
PROPERTY TAXES
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Rutherford Business Center | West ofCharlotte | 500 West St
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