Medical Office with
For Sale
$685,000
114 Lee Street, Shelby, NC 28150
An established tenant occupies this medical property, with parking available on site.
Property Size2,696 SF
Price / SF$254.08
Days on Market314
Property Features for 114 Lee Street
General Information
Standard status
Active
Size
2,696 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
RO
Additional Details
Tenant in Place
Yes
Property Use
Medical Office
Building Details
Year Built
1997
Listing Agency:
Paramont LLC
(704) 434-6588
Listed By:
Adam Smith · License #297174
(202) 425-8945
Source:
Hickoryrealestate
Added: Dec 17, 2025
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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
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Investment Insights
Based on property information with market context.
This 2,696-square-foot medical office is occupied by an established tenant. The building dates to 1997 and is zoned RO.
Eighteen parking spaces serve the property, adding on-site parking capacity for the medical office.
Eighteen parking spaces serve the property, adding on-site parking capacity for the medical office.
Key Highlights
- Established tenant in place
- 2,696‑square‑foot medical office
- 18 parking spaces
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.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,115
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - An established tenant occupies this medical property, with parking available on site.
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; 2,696‑square‑foot medical office; 18 parking spaces
