702 Henson Street
SINGLE-TENANT GOVERNMENT-LEASED OFFICE INVESTMENT Stabilized Income | Fixed Annual Increases | Oppor
Marketing description
Recently adjusted pricing presents a compelling opportunity to acquire a stabilized, single-tenant government-leased office investment delivering durable cash flow and built-in rental growth.
The property offers an attractive going-in return based on contractual rent, supported by fixed annual rent increases averaging approximately 2.8% throughout the initial term. Long-term occupancy is in place with renewal options extending well beyond the current lease expiration, providing predictable income and limited rollover exposure.
The ±5,942 SF office building is fully leased under a modified gross structure typical of government-occupied facilities. The adjusted pricing enhances overall yield while maintaining the strength of a government-backed tenancy.
Located within a designated Opportunity Zone, the asset may offer potential tax advantages to qualified investors, further strengthening its long-term hold profile.
An appealing option for investors seeking stable income, contractual growth, and strategic tax positioning.
Investment highlights
State of North Carolina Tenant – Government-backed occupancy with strong payment history
10-Year Lease (June 2023 – May 2033) – Approximately 7+ years remaining
Four (4) Five-Year Renewal Options – Potential term through 2053
~6.1% Going-In Cap Rate – Based on Year-1 contractual rent of $121,811
Fixed Annual Rent Increases (~2.8%) – Built-in organic NOI growth
Single-Tenant, 5,942 SF Office Asset – Stabilized income with no lease-up risk
Modified Gross Lease Structure – Clear expense responsibilities
Well-Suited for 1031 Exchange Buyers – Long-term, predictable cash flow profile
Fee Simple Ownership – Clean title structure
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