Remodeled Seven-Office
New
For Sale
$460,000
5 G2 Doctors Park G2, Asheville, NC 28801
Second-floor professional office unit with private workspaces, client waiting area, two restrooms, and on-site parking.
Property Size1,482 SF
Price / SF$310.39
Days on Market6
Property Features for 5 G2 Doctors Park G2
General Information
Standard status
Active
Size
1,482 SF
Occupancy
100%
Additional Details
Floor
2
Building Details
Year Built
1966
Tenancy
Multi
Listing Agency:
EXP Realty LLC
(828) 216-4009
Listed By:
Robin Cape · License #296861
Source:
Lewisandkirk
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 7:43PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 1,482-square-foot, second-floor office unit contains seven individual offices, a spacious reception and waiting area, two bathrooms, and a break room. Several offices include built-in desks and bookshelves, while waiting-room furniture conveys with the property. Improvements include updated HVAC, carpeting, paint, and bathrooms. The suite is fully leased to counselors and therapists.
The unit is located within Doctors Park, a 5.5-acre office park near downtown Asheville and Mission Hospital, with access from Biltmore Avenue. The park provides client and tenant parking. The Doctors Park Association manages the property and covers electric, water, landscaping, snow removal, trash and recycling, exterior pest control, and exterior building insurance. The office building was constructed in 1966.
The unit is located within Doctors Park, a 5.5-acre office park near downtown Asheville and Mission Hospital, with access from Biltmore Avenue. The park provides client and tenant parking. The Doctors Park Association manages the property and covers electric, water, landscaping, snow removal, trash and recycling, exterior pest control, and exterior building insurance. The office building was constructed in 1966.
Key Highlights
- 1,482‑square‑foot second‑floor office unit
- Seven individual offices leased to counselors and therapists
- Waiting area, two bathrooms, and break room
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
$27,496
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
5.98%
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%
$549,920
$549.9K
Cap Rate 7%
$392,800
$392.8K
Cap Rate 9%
$305,511
$305.5K
Market Conditions
NOI Build-Up for 1,482 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
$37.5K $25.32/SF
− Vacancy
−$863 −$0.58/SF
EGI
$36.7K $24.74/SF
− OpEx
−$9.2K −$6.18/SF
NOI
$27.5K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /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%
$549,920
Cap Rate 7%
$392,800
Cap Rate 9%
$305,511
Alternative Uses
Best Use
Office B
$392.8K
$343.7K – $458.3K
NOI $27,496 @ 7.0% cap · market cap 5.98%
Second Best
Healthcare Medical
$351.5K
$307.5K – $410.1K
NOI $24,603 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor professional office unit with private workspaces, client waiting area, two restrooms, and on-site parking.
Where is this office units located?
The property is located at 5 G2 Doctors Park G2 Asheville, NC.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 1,482‑square‑foot second‑floor office unit; Seven individual offices leased to counselors and therapists; Waiting area, two bathrooms, and break room
