Medical Office
For Sale
$685,000
114 Lee Street, Shelby, NC 28150
Commercial Sale, Shelby, NC
Property Size2,696 SF
Lot Size0.62 Acres
Price / SF$254.08
Days on Market297
Property Features for 114 Lee Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RO
Parking
18
Parking features
Parking Lot
Security features
Security System
Window features
Insulated Windows
Lot features
Level
Standard status
Active
APN
55498
Lot size
0.62 Acres
Taxes and HOA fees
Tax Description
.62AC LEE ST
Legal Description
.62AC LEE ST
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1997
Flooring type
Tile, Laminate, Carpet
Building materials
Brick Partial
Listing Agency:
Paramont LLC
(704) 434-6588
Listed By:
Adam Smith · License #297174
(704) 473-9805
Added: Dec 17, 2025
Changed: Oct 8
Last Checked: Oct 10 at 3:06PM
MLS# 4330000
Copyright © 2026 Canopy MLS. 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.
The medical office contains 2,696 square feet and has an established tenant. Built in 1997, the property includes partial brick construction, tile, laminate and carpet flooring, and heat pump heating and cooling. Public sewer service is available.
The 0.622-acre site is zoned RO and includes a parking lot with 18 spaces.
The 0.622-acre site is zoned RO and includes a parking lot with 18 spaces.
Key Highlights
- 2,696‑square‑foot medical office
- Established tenant in place
- RO zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,943
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$738,860
$738.9K
Cap Rate 7%
$527,757
$527.8K
Cap Rate 9%
$410,478
$410.5K
Market Conditions
NOI Build-Up for 2,696 SF
Gross rent
$59.9K $22.20/SF
− Vacancy
−$10.6K −$3.93/SF
EGI
$49.3K $18.27/SF
− OpEx
−$12.3K −$4.57/SF
NOI
$36.9K $13.70/SF
Area
Cleveland County, NC
Vacancy
17.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$738,860
Cap Rate 7%
$527,757
Cap Rate 9%
$410,478
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
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - An existing tenant occupies the facility.
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: 2,696‑square‑foot medical office; Established tenant in place; RO zoning
