Medical Office For
114 Lee Street Shelby, NC 28150
For Sale
$685,000
2696 sq ft medical office with established tenant.
Property Size2,696 SF
Price / SF$254.08
Days on Market223
Property Features for 114 Lee Street
General Information
Standard status
Active
Size
2,696 SF
Property subtype
Commercial
Building Details
Year Built
1997
Listing Agency:
PARAMONT LLC
(704) 434-6588
Listed By:
ADAM SMITH · License #297174
Source:
Corcoran
Added: Dec 17, 2025
Changed: Jul 6
Last Checked: Jul 27 at 6:29AM
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 PARAMONT LLC
Investment Insights
Based on property information with market context.
This 2696 sq ft medical office space is available for sale. The property is zoned RO and features an established tenant. There are 18 parking places available.
Key Highlights
- Established tenant in place providing immediate income.
- 2696 sq ft medical office space.
- Zoning RO (likely Residential/Office, check local zoning).
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $22.20 |
| − Vacancy | −$10.6k | −$3.93 |
| EGI | $49.3k | $18.27 |
| − OpEx | −$12.3k | −$4.57 |
| NOI | $36.9k | $13.70 |
2,696 SF · lease $22.20/SF/yr · vacancy 17.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$527.8K
$461.8K – $615.7K
NOI $36,943 @ 7.0% cap · market cap 5.39%
Second Best
Healthcare Medical
$469.4K
$410.7K – $547.6K
NOI $32,858 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$684.7K
$599.1K – $798.8K
NOI $47,926 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2696 sq ft medical office with established tenant.
Where is this medical office space located?
The property is located at 114 Lee Street Shelby, NC.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Established tenant in place providing immediate income.; 2696 sq ft medical office space.; Zoning RO (likely Residential/Office, check local zoning).
