Description

Chase Bank is a retail property offered for sale at 115 Northcross Ln in Statesville, NC 28625. Its 2,500 SF of gross leasable area and 100% occupancy position the Property as an acquisition centered on existing income rather than leasing vacant space.

For a retail investor, the 2,500 SF gross leasable area establishes the scale of the building behind the investment. The Property also occupies approximately 0.82 acres, making the land an integral part of the acquisition alongside the leasable area. Those dimensions give a buyer a defined physical asset to underwrite against the income figures, while 100% occupancy places the focus on the occupied Property. The building size, site area and occupancy each answer a different question: what is being acquired, how much land accompanies it, and how much of the Property is occupied.

Chase Bank is offered at an asking price of $2,655,000, with NOI of $120,000 and a 4.50% cap rate. The asking price sets the acquisition basis, while the NOI and cap rate give investors a way to compare the Property with their return requirements. Together with the occupied 2,500 SF retail building and approximately 0.82-acre site, these figures define an investment proposition grounded in current occupancy and income. The opportunity is to acquire a retail property whose physical scale and income profile are clear at the outset of underwriting.