Prime Office Space Near
For Sale
$850,000
121 W Center St, Lexington, NC 27292
Professional office space ideal for attorneys and other businesses.
Property Size2,500 SF
Price / SF$340
Days on Market243
Property Features for 121 W Center St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Year Built
1926
Listing Agency:
Price REALTORS - Thomasville
Listed By:
Donna Stone
(336) 474-8320
Source:
Searchhomesinthetriad
Added: Mar 5
Changed: Nov 1
Last Checked: Nov 1 at 5:52AM
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 Price REALTORS - Thomasville
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Investment Insights
Based on property information with market context.
This commercial space is suitable for attorneys or other professional businesses. It features private offices suitable for solo attorneys or small firms, a reception area, and a quiet environment. The location is convenient to courts, major highways, and key amenities. Ample parking is available for clients and staff. The property is located across from the Davidson County Court House. An income-producing apartment is located in the rear of the building.
Key Highlights
- Prime location directly across from the Davidson County Court House
- Private offices suitable for attorneys or small firms
- Reception area for client interaction and professional image
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,470
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,400
$609.4K
Cap Rate 7%
$435,286
$435.3K
Cap Rate 9%
$338,556
$338.6K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$54.9K $21.96/SF
− Vacancy
−$14.3K −$5.71/SF
EGI
$40.6K $16.25/SF
− OpEx
−$10.2K −$4.06/SF
NOI
$30.5K $12.19/SF
Area
Davidson County, NC
Vacancy
26.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,400
Cap Rate 7%
$435,286
Cap Rate 9%
$338,556
Alternative Uses
Best Use
Office B
$435.3K
$380.9K – $507.8K
NOI $30,470 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.3K
$555.0K – $740.0K
NOI $44,400 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
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Business Placement
Demographics for 27292, NC
39,337
Population
18,749
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
85%
High-School Grad
144.0 sq mi
ZIP Area
273
Density / Sq Mi
$54,468
Median Household Income
$34,776
Median Earnings
$831
Median Rent
$193,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Professional office space ideal for attorneys and other businesses.
Where is this office unit located?
The property is located at 121 W Center St Lexington, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location directly across from the Davidson County Court House; Private offices suitable for attorneys or small firms; Reception area for client interaction and professional image
