Second-Floor Medical Office
For Sale
$1,295,000
1540 Purdue Drive, Fayetteville, NC 28303
CommercialSale, Fayetteville, NC
Property Size24,627 SF
Price / SF$177.84
Days on Market834
Property Features for 1540 Purdue Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
OI - Office And Institutional
Subdivision
GLENDALE AC
Standard status
Active
APN
0427-20-6631
Taxes and HOA fees
Tax Description
unit 3 phase 1 of the Summit on Purdue
Legal Description
unit 3 phase 1 of the Summit on Purdue
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Building materials
Brick
Listing Agency:
CAPE FEAR COMMERCIAL
(910) 344-1002
Listed By:
RUDOLPH "LEE" SINGLETON · License #305324
(910) 624-5561
Added: Jun 3, 2024
Changed: Aug 19
Last Checked: Sep 14 at 2:06PM
MLS# 727942
Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,282 SF medical office condominium occupies the full second floor of The Summit on Purdue, a 3-story professional office building completed in 2003. The layout includes a reception area, waiting room, 11 offices, 8 exam rooms, 3 conference rooms, a procedure room, kitchen/break room, 4 restrooms, 3 storage rooms, and 2 mechanical rooms. Modular wall construction supports future reconfiguration of the interior.
The property is located at 1540 Purdue Drive in Fayetteville, North Carolina. Brick construction, public water, and public sewer serve the building. The unit is scheduled for delivery vacant except for a short-term lease covering a small portion of the condominium.
The property is located at 1540 Purdue Drive in Fayetteville, North Carolina. Brick construction, public water, and public sewer serve the building. The unit is scheduled for delivery vacant except for a short-term lease covering a small portion of the condominium.
Key Highlights
- 7,282 SF medical office condominium on the entire second floor
- Built in 2003 within a 3‑story, 24,627 SF professional office building
- 11 offices and 8 exam rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,020
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,780,400
$1.8M
Cap Rate 7%
$1,271,714
$1.3M
Cap Rate 9%
$989,111
$989.1K
Market Conditions
NOI Build-Up for 7,282 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$148.6K $20.40/SF
− Vacancy
−$29.9K −$4.10/SF
EGI
$118.7K $16.30/SF
− OpEx
−$29.7K −$4.07/SF
NOI
$89.0K $12.22/SF
Area
Fayetteville, NC
Vacancy
20.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,780,400
Cap Rate 7%
$1,271,714
Cap Rate 9%
$989,111
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $89,020 @ 7.0% cap · market cap 6.87%
Second Best
Healthcare Medical
$1.08M
$943.8K – $1.26M
NOI $75,500 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,712 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28303, NC
30,842
Population
15,554
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,003
Density / Sq Mi
$53,261
Median Household Income
$37,238
Median Earnings
$1,125
Median Rent
$174,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured medical office space features adaptable modular walls and a broad mix of clinical and administrative areas.
Where is this medical office space located?
The property is located at 1540 Purdue Drive Fayetteville, NC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 7,282 SF medical office condominium on the entire second floor; Built in 2003 within a 3‑story, 24,627 SF professional office building; 11 offices and 8 exam rooms
