706 Wilkins St 4,200 SF 100% Leased Office Building Smithfield, NC 27577 $1,045,560 CAD ($248.94 CAD/SF) 7.53% Cap Rate

FOR SALE: STABLE MEDICAL OFFICE INVESTMENT | LONG-TERM LEASES | STRONG NOI
Property Overview
High-quality, fully leased medical office investment offering stable cash flow and long-term upside. This property features established medical tenants with extended lease terms, making it an ideal acquisition for investors seeking predictable income and low management intensity.
Investment Highlights
- Strong Net Operating Income: $56,500/year
- Fully leased with $5,000/month gross rental income
- Long-term tenant stability, including medical practices
- Favorable lease structure with reliable tenants
- Low annual expenses ($3,500 property taxes)
- Consistent, recession-resistant medical tenancy
Tenant Profile
The property includes multiple units with a mix of long-standing and newer tenants. Two tenants are established medical practices, providing durable occupancy and reduced turnover risk. Lease terms include long-duration agreements, enhancing income security and investment appeal.
Smithfield Pulmonology - Tenant since 2004
Ali Lung Clinic - Tenant since 2016
Dack Drug Testing - Tenant since 2026
Financial Summary
- Gross Annual Rent: $60,000
- Expenses (Taxes): $3,500
- Net Operating Income (NOI): $56,500 excluding Property Insurance.
Investment Positioning
Medical office assets continue to outperform traditional office due to necessity-based demand and tenant stickiness. This property offers a rare combination of:
- Long-term leases
- Medical tenancy
- Below-market rents with upside potential