Hendersonville Office Condo For
For Sale
Contact for pricing
120 Chadwick Square Ct, Hendersonville, NC 28739
2,583 SF office condo in a prime Hendersonville location.
Property Size2,583 SF
Lot Size3.46 Acres
Price / SF$193.57
Days on Market355
Property Features for 120 Chadwick Square Ct
General Information
Standard status
Active
Size
2,583 SF
Lot size
3.46 Acres
Property subtype
OFFICE
Lease Type
Nnn
Properties For Sale
at 120 Chadwick Square Ct Contact us- Floor
- 1
- Size
- 2,583 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2580 SF Condominium for Medical User or ProfessionaL Office
Presenting an exceptional leasing opportunity at 120 Chadwick Square Court Ste. A,...
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Listing Agency:
Whitney Commercial
(828) 243-3610
Listed By:
Andrew Riddle · License #297804
(828) 243-3610
Source:
Moodyscre
Added: Aug 20, 2025
Changed: Aug 8
Last Checked: Aug 8 at 9:39AM
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 Whitney Commercial
Investment Insights
Based on property information with market context.
This 2,583 square foot office condo, constructed in 2004, is located in Hendersonville. Zoned C1SU, the property offers versatility for a range of uses. It presents an opportunity for investors seeking a well-maintained and modern space, or for an owner/user looking to establish equity in a desirable location. The location provides convenient access to Downtown Hendersonville, Henderson County Courthouse, and various dining and retail establishments. Proximity to local highways ensures connectivity to the broader region, making it suitable for businesses. The area's setting and dynamic atmosphere may appeal to office building investors looking to capitalize on the vitality of Hendersonville.
Key Highlights
- Strategic location in Hendersonville with convenient access to Downtown, Courthouse, dining, and retail.
- 2,583 SF modern, Class “A” office building.
- Zoned C1SU, offering versatile use possibilities.
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
$45,192
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
9.04%
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%
$903,840
$903.8K
Cap Rate 7%
$645,600
$645.6K
Cap Rate 9%
$502,133
$502.1K
Market Conditions
NOI Build-Up for 2,583 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
$62.0K $24.00/SF
− Vacancy
−$1.7K −$0.67/SF
EGI
$60.3K $23.33/SF
− OpEx
−$15.1K −$5.83/SF
NOI
$45.2K $17.50/SF
Area
Henderson County, NC
Vacancy
2.80%
Lease Rate
$24.00 /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%
$903,840
Cap Rate 7%
$645,600
Cap Rate 9%
$502,133
Alternative Uses
Best Use
Office B
$645.6K
$564.9K – $753.2K
NOI $45,192 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$860.8K
$753.2K – $1.00M
NOI $60,256 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 28739, NC
21,251
Population
11,083
Households
1.9
Avg Household Size
54
Median Age
44%
College-Educated
94%
High-School Grad
61.0 sq mi
ZIP Area
348
Density / Sq Mi
$70,464
Median Household Income
$35,934
Median Earnings
$995
Median Rent
$358,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - 2,583 SF office condo in a prime Hendersonville location.
Where is this office units located?
The property is located at 120 Chadwick Square Ct Hendersonville, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Strategic location in Hendersonville with convenient access to Downtown, Courthouse, dining, and retail.; 2,583 SF modern, Class “A” office building.; Zoned C1SU, offering versatile use possibilities.
