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500 West St
Spindale, NC 28160

$1,750,000 USD

Office For Sale  •  11,809 SF

Property Details

  • Property Type Office
  • Total Building Size 11,809 SF
  • Lot Size 3.5 AC
  • Building Class A
  • Year Built 1987
  • Cap Rate 8.96 %
  • Tenancy Multiple
  • Zoning HC-1
0 Transit Score
27 Walk Score

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
83% Occupied by USDA Farm Services Bureau and Carolina Home Health, United Healthcare Parent Company
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
Leasing Upside: 2,000-SF Vacancy on 2nd Floor | Open Floor Plan With High Ceilings, Large Windows and Elevator Access | High Speed Fiber Internet
+/-10.50 Acres of Flat Land on Adjacent Parcel Also For Sale | Residential Zoning With Frontage Along Railroad Ave/US-74 Alt

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $167,794 USD (2025)
Cap Rate: 8.96 %
Total Expenses: $105,917 USD

Major Tenants

Tenant SF Occupied Lease End Date
Carolina Home Care 5,000 SF 4/30/2028
United States Department of Agriculture 4,809 SF 8/27/2035

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

Public Transportation

AirportDriveWalkDistance
Asheville Regional 62 min - 49.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 120
Type: Surface
Included in Rent: Yes
Justin Fenn, SIOR 614-653-3432 Marcus & Millichap
Justin Fenn, SIOR 614-653-3432 Marcus & Millichap