Listed by Artha associates
$1,739,743
355 Venus Street
Details
Property Type Office
Sub Type Medical Office
Square Footage 6,600
Units 1
Cap Rate 7.00%
NOI $121,782
Occupancy 100%
Tenancy Single
Lease Type Net
Lease Term 5
Lease Expiration 09/30/2031
Remaining Term 5.2
Rent Bumps Yes
Price per SqFt $264
Year Built 1996
Buildings 1
Stories 1
Acreage 0.320
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 06/14/2005
Office | 7.00% CAP | 6,600 SqFt
Marketing description
Artha Associates is pleased to present 355 Venus Street, a 6,600-square-foot, single-story office building located in the heart of Monroe, North Carolina. The property offers investors a compelling opportunity to acquire a well-positioned office asset underpinned by stable, long-term cash flow.
Strategically situated within an established medical office park serving the Charlotte MSA, the property sits directly across from Atrium Health Union, a 182-bed hospital that provides comprehensive emergency services along with a broad range of specialty medical care.
The asset is 100% leased to Atrium Health on a single-tenant basis, currently operating under a new 5 year renewal with a lease expiration of September 30, 2031.
Investment highlights
- Strong Medical Sector Tailwinds: Growing demand from healthcare users in Monroe continues to drive robust leasing velocity and elevated occupancy across the submarket.
- Investment-Grade Credit Tenancy: The property is 100% leased to Atrium Health, an AA-rated credit tenant, currently operating under a new five-year renewal extending through September 30, 2031. Atrium Health retains an early termination option after September 30, 2029, exercisable with 90 days written notice.
- Stable, Long-Duration Income Stream: Medical and healthcare tenants are recognized for long tenure and low turnover, characteristics that translate directly to the asset's income profile. The property benefits from a weighted average lease term (WALT) exceeding five years, delivering income stability and predictable cash flow for investors.
- Enhanced Financing Profile: The creditworthiness of the tenant strengthens the property's financing profile and materially reduces credit risk for the incoming owner.
- Built-In NOI Growth: The in-place lease features 2% annual rental escalations, providing organic NOI growth designed to keep pace with, or outpace, inflationary pressures.
- Favorable Lease Structure: The asset is offered on a net lease basis, with the landlord responsible for taxes and insurance.
Listing Contacts
Listed by Artha associates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$121,782.00
$10,148.50/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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