Multi-Tenant Medical Office
New
For Sale
$1,500,000
100 Cunningham Ln, Clayton, NC 27527
Five units are leased, while additional space is available for an owner-user or another tenant.
Property Size9,489 SF
Lot Size0.85 Acres
Price / SF$213.19
Days on Market2
Property Features for 100 Cunningham Ln
General Information
Standard status
Active
Size
9,489 SF
Lot size
0.85 Acres
Building Details
Year Built
2006
Buildings
1
Building Size
9,489 SF
Tenancy
Multi
Listing Agency:
HomeTowne Realty
Listed By:
Diana May · License #302472
(919) 608-7702
Source:
Barefootbrokers
Added: Oct 1
Last Checked: Oct 1 at 2:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeTowne Realty
Investment Insights
Based on property information with market context.
Built in 2006, this medical office property includes five leased units and 2,736 sq. ft. of space available for an owner-user or additional occupancy. The building was originally designed for medical office use, and its flexible commercial zoning supports other uses, including professional offices and business services. The property occupies a 0.85-acre site in the Riverwood Athletic Community.
Key Highlights
- Five units are leased, with 2,736 sq. ft. available
- 0.85‑acre site in the Riverwood Athletic Community
- Built in 2006
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
$108,005
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
7.20%
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%
$2,160,100
$2.2M
Cap Rate 7%
$1,542,929
$1.5M
Cap Rate 9%
$1,200,056
$1.2M
Market Conditions
NOI Build-Up for 7,036 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
$173.1K $24.60/SF
− Vacancy
−$29.1K −$4.13/SF
EGI
$144.0K $20.47/SF
− OpEx
−$36.0K −$5.12/SF
NOI
$108.0K $15.35/SF
Area
Johnston County, NC
Vacancy
16.80%
Lease Rate
$24.60 /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%
$2,160,100
Cap Rate 7%
$1,542,929
Cap Rate 9%
$1,200,056
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $108,005 @ 7.0% cap · market cap 7.20%
Second Best
Healthcare Medical
$1.41M
$1.23M – $1.64M
NOI $98,405 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,999 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27527, NC
33,827
Population
13,179
Households
2.6
Avg Household Size
36
Median Age
45%
College-Educated
97%
High-School Grad
44.1 sq mi
ZIP Area
767
Density / Sq Mi
$111,011
Median Household Income
$53,357
Median Earnings
$1,617
Median Rent
$360,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Maple Ridge Mobile Veterinary Services, PLLC — 541 McCarthy Dr, Clayton, NC 27527
- Riverwood Veterinary Clinic — 200 Pritchard Rd, Clayton, NC 27527
Frequently Asked Questions
What type of property is this?
Medical Office Space - Five units are leased, while additional space is available for an owner-user or another tenant.
Where is this medical office space located?
The property is located at 100 Cunningham Ln Clayton, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Five units are leased, with 2,736 sq. ft. available; 0.85‑acre site in the Riverwood Athletic Community; Built in 2006
