Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1191 West Lebanon Street Mount Airy, NC 27030

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $425,000

    2,300 sf +/- Spacious and Beautiful Office Building For Sale

    Property size:
    2,300 SF
    Lot size:
    0.50 Acres
    Added:
    Apr 11, 2025
    Days on Market:
    362
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 1191 West Lebanon Street

    General Information

    Standard status
    Active
    Property type
    Office buildings, Office properties & Spaces
    Size
    2,300 SF
    Elevators
    N/A
    Lot size
    0.50 Acres

    Building Details

    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Austin Petty

    Listing agent Austin

    Listing office

    Listing date Apr 11, 2025

    Overview

    Spacious Office Building in Mount Airy

    This 2,300 square foot office building is available for sale. The property features five offices and two conference rooms, along with a breakroom and storage room. Situated in Mount Airy, North Carolina, the property offers exceptional visibility and ample parking. The building has been recently renovated and is located on a 0.5-acre lot. This property is suitable for business owners or investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coldwell Banker Advantage: ... Real Estate Agency Mary Draughn - Real ... Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Surry
    State
    North Carolina
    Longitude
    -80.624141
    Latitude
    36.524649

    Nearby Similar for Sale

    • $1.00

      Mount Airy Medical Office Space

      Prime medical office suites available in Mount Airy, North Carolina.
      436 Hadley Street, Mount Airy, NC 27030
      View Details
    • $499,900

      Versatile Multi-Use Investment Opportunity

      4-acre property with church, home, and metal buildings.
      259 Belvue Drive, Mount Airy, NC 27030
      View Details
    • $699,900

      Versatile Facility in Mount Airy

      Adaptable building suitable for church, warehouse, or industrial use.
      574 Slate Road, Mount Airy, NC 27030
      View Details
    • $350,000

      Mount Airy Office Building For Sale

      Office building in Mt. Airy's business district.
      165 Renfro Street, Mount Airy, NC 27030
      View Details
    • $380,000

      Turnkey Market Opportunity in Mount Airy

      Formerly a successful deli and market, ready for new owner.
      1515 Fancy Gap Road, Mount Airy, NC 27030
      View Details
    • $1,600,000
      7,500 SF

      Mount Airy Mixed-Use Building

      7,500+- SF mixed-use building in the heart of Mount Airy.
      199 N Renfro St, Mount Airy, NC 27030
      View Details
    • $380,000

      Multifamily Property Near Downtown Mount Airy

      Triplex near downtown Mount Airy with rental income potential.
      234 Hylton Street, Mount Airy, NC 27030
      View Details
    • $2,000

      Mount Airy Medical Office Space

      1900 sq ft medical office space in accessible location.
      601 Willow Street, Mount Airy, NC 27030
      View Details
    • $425,000

      Mount Airy Office Building For Sale

      5,800+- sqft building on 2.65+- acres in Mount Airy.
      2280 Fancy Gap Road, Mount Airy, NC 27030
      View Details
    • $325,000

      Move-in Ready Church in Mount Airy

      Church with outreach opportunity in city limits of Mount Airy.
      402 Worth Street, Mount Airy, NC 27030
      View Details
    • $350,000
      1,560 SF

      Mt. Airy Office Building

      Office building in Mt. Airy's business district for sale.
      165 N Renfro St, Mount Airy, NC 27030
      View Details
    • $1,600,000

      Mount Airy Office Building

      7,500 SF office building in the heart of Mount Airy.
      199 Renfro Street, Mount Airy, NC 27030
      View Details

    FAQs

    What type of property is this?
    Office building - 2,300 sf +/- Spacious and Beautiful Office Building For Sale
    Where is this office building located?
    The property is located at 1191 West Lebanon Street Mount Airy, NC.
    What is the asking price?
    The asking price for this property is $425,000.
    (336) 669-5866
    We can help!
    Listing Contact
    Austin Petty
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!