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    Office Building Pad Site Title is generated by Realmo AI

    5 Haywood Office Park, Waynesville, NC 28785

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    Claim this Listing
    For Lease
    $28 SF/Yr

    Graded pad site for 6,000 SF office building.

    Type:Rental
    Lot size:
    0.35 Acres
    Added:
    Dec 6, 2022
    Days on Market:
    1270
    Last Refresh:
    May 19 at 11:36 pm

    Property Features for 5 Haywood Office Park

    General Information

    Standard status
    Active
    Lot size
    0.35 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    Keaton Edwards
    Keaton Edwards

    Listing agent Keaton Edwards License #277099

    Listing office G/M Property Group

    Listing date Dec 6, 2022

    Source Exitrealty

    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 G/M Property Group

    HighLights

    • New 6,000 SF Office Building with delivery expected in 3Q 2023
    • Approved building plans are already in place
    • Graded and compacted pad site ready for construction
    • Located in a desirable medical office park
    • Proximity to Haywood Regional Medical Center (1.5 miles)
    • Best‑of‑class location

    Overview

    A graded and compacted pad site is available for rent, approved for a 6,000-square-foot office building, slated for delivery in the third quarter of 2023. The site is located within a medical office park, approximately 1.5 miles from Haywood Regional Medical Center.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Waynesville
    County
    Haywood
    State
    North Carolina
    Longitude
    -82.961314
    Latitude
    35.52778

    Nearby Similar for Lease

    • $23 SF/Yr

      Open Commercial Space in Waynesville

      Remodel-ready space with high visibility and ample car traffic.
      1902 S Main Street, Waynesville, NC 28786
      View Details
    • $2,495/Mo
      3,600 SF

      Bethel Commercial Building For Lease

      Charming commercial building in Bethel with versatile space and accessibility.
      62 Birdsong Trail, Waynesville, NC 28786
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    • $12 SF/Yr
      4,310 SF

      Storefront Available on Retail Corridor

      Storefront property with side and rear access for lease.
      263 Waynesville Plaza, Waynesville, NC 28786
      View Details

    FAQs

    What type of property is this?
    Commercial land - Graded pad site for 6,000 SF office building.
    Where is this commercial land located?
    The property is located at 5 Haywood Office Park Waynesville, NC.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: New 6,000 SF Office Building with delivery expected in 3Q 2023; Approved building plans are already in place; Graded and compacted pad site ready for construction
    (828) 289-8400
    We can help!
    Listing Contact
    Keaton Edwards
    Keaton Edwards
    Real Estate License ID: 277099
    Learn More
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    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
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