Building Details

Year Built 1971

Listing Agency: Buy Coastal Real Estate Show Phone

Listed By: Cora Bett Thomas Show Phone

Source: Baystreetrealtygroup

Added: Mar 23 Changed: Oct 29 Last Checked: Oct 30 at 12:04PM

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Investment Insights

Based on property information with market context.

This medical office property was previously used as a veterinary clinic and is set up as an office use with a practical rear storage area. A large storage shed/workshop (26 ft by 48 ft) is located in the back of the lot, and the site provides ample parking for patients and visitors.

The property is located on Highway 24 in Swansboro, next to the public library, with high visibility along the corridor. The current tenant will vacate with a 60-day notice.

For buyers seeking an office-based facility with on-site storage and parking, this offering provides an existing medical office layout plus dedicated space in the rear workshop building.

Key Highlights

• Commercial property on Highway 24 in Swansboro next to the public library
• Previous use as a veterinary clinic
• 2092 SF building on a 0.97‑acre lot with irregular lot dimensions

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,892

Cap Rate

3.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$517,840 $517.8K

Cap Rate 7%

$369,886 $369.9K

Cap Rate 9%

$287,689 $287.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,092 SF

Gross rent

$45.2K $21.60/SF

− Vacancy

−$2.0K −$0.97/SF

EGI

$43.2K $20.63/SF

− OpEx

−$17.3K −$8.25/SF

NOI

$25.9K $12.38/SF

Area

Onslow County, NC

Vacancy

4.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$517,840

Cap Rate 7%

$369,886

Cap Rate 9%

$287,689

Alternative Uses

Best Use

Healthcare Medical

$369.9K

$323.7K – $431.5K (±1% cap)

NOI $25,892 @ 7.0% cap · market cap 3.72%

Second Best

Office B

$342.9K

$300.1K – $400.1K (±1% cap)

NOI $24,006 @ 7.0% cap · market cap 3.45%

Theoretical Best

Office A

$454.5K

$397.7K – $530.2K (±1% cap)

NOI $31,812 @ 7.0% cap · market cap 4.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Dental Office Real Estate Agency Pharmacy Electrical Service Hair Salon Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

129

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28584, NC

13,584

Population

7,550

Households

1.8

Avg Household Size

46

Median Age

32%

College-Educated

94%

High-School Grad

33.9 sq mi

ZIP Area

401

Density / Sq Mi

$81,574

Median Household Income

$48,944

Median Earnings

$1,300

Median Rent

$308,000

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Medical Office Space - Previously used as a veterinary clinic, the property includes a large rear storage shed/workshop and plenty of parking.

Where is this medical office space located?

The property is located at 1468 W Corbett Avenue Swansboro, NC.

What is the asking price?

The asking price for this property is $696,000.

What are key features of this property?

This property features: Commercial property on Highway 24 in Swansboro next to the public library; Previous use as a veterinary clinic; 2092 SF building on a 0.97‑acre lot with irregular lot dimensions