Class A Financial
For Sale
Contact for pricing
101 Jack St, Hendersonville, NC 28792
Well-maintained financial facility with long-term tenant and drive-thru lanes.
Property Size10,683 SF
Price / SF$304.22
Days on Market146
Property Features for 101 Jack St
General Information
Standard status
Active
Size
10,683 SF
Class
A
Property subtype
Retail, Office
Zoning
C-3
Building Details
Year Built
2004
Stories
2
Tenancy
Single
Listing Agency:
NAI Beverly-Hanks
(828) 329-1529
Listed By:
Karl Nelson, CCIM · License #NC 291784
Source:
Crexi
Added: Mar 23
Changed: Aug 14
Last Checked: Aug 14 at 6:05AM
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 NAI Beverly-Hanks
Investment Insights
Based on property information with market context.
This Class A financial facility, totaling 10,683 heated square feet, is located off U.S. Hwy 64 and I-26, offering accessibility and visibility. The two-story building is equipped with an elevator. It features three drive-through lanes positioned along a high-traffic corridor. The property is occupied by a long-term, high credit-rated financial institution under a recent extended 5-year lease with two additional 5-year renewal options.
Key Highlights
- Long‑term tenancy with a high credit‑rated financial institution.
- Recent extended 5‑year lease with two 5‑year renewal options.
- Strategically located off U.S. Hwy 64 and I‑26 with excellent accessibility and visibility.
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
$141,480
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
4.35%
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%
$2,829,600
$2.8M
Cap Rate 7%
$2,021,143
$2.0M
Cap Rate 9%
$1,572,000
$1.6M
Market Conditions
NOI Build-Up for 10,683 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
$192.3K $18.00/SF
− Vacancy
−$3.7K −$0.34/SF
EGI
$188.6K $17.66/SF
− OpEx
−$47.2K −$4.41/SF
NOI
$141.5K $13.24/SF
Area
Henderson County, NC
Vacancy
1.90%
Lease Rate
$18.00 /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%
$2,829,600
Cap Rate 7%
$2,021,143
Cap Rate 9%
$1,572,000
Alternative Uses
Best Use
Specialty Retail
$2.02M
$1.77M – $2.36M
NOI $141,480 @ 7.0% cap · market cap 4.35%
Second Best
Retail
$1.89M
$1.65M – $2.20M
NOI $132,048 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$3.56M
$3.12M – $4.15M
NOI $249,213 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
533k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Apparel 24%
Home Improvements & Furnishings 11%
Shops & Services 7%
T.J. Maxx
Apparel
57,980 visits/mo
0.1 miles
McDonald's
Dining
37,906 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
30,266 visits/mo
0.4 miles
Belk
Apparel
27,516 visits/mo
0.2 miles
Starbucks
Dining
25,944 visits/mo
0.2 miles
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Well-maintained financial facility with long-term tenant and drive-thru lanes.
Where is this bank located?
The property is located at 101 Jack St Hendersonville, NC.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Long‑term tenancy with a high credit‑rated financial institution.; Recent extended 5‑year lease with two 5‑year renewal options.; Strategically located off U.S. Hwy 64 and I‑26 with excellent accessibility and visibility.
