Medical Office with
For Sale
$696,000
1468 W Corbett Avenue, Swansboro, NC 28584
Commercial Sale, Swansboro, NC
Property Size2,092 SF
Lot Size0.97 Acres
Price / SF$332.70
Days on Market151
Property Features for 1468 W Corbett Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1
Subdivision
Not In Subdivision
Directions
Property is adjacent to the Onslow/Swansboro public library on HWY 24
Standard status
Active
APN
1313-5
Size
2,092 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
Parcel 1313-5
Tax Annual Amount
2604
Legal Description
Parcel 1313-5
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating)
Water source
Public
Building Details
Year built
1971
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Bogue Banks Realty, Inc
(910) 325-0868
Listed By:
Carla F Buckhold · License #268343
(808) 372-5098
Added: Mar 23
Changed: Aug 20
Last Checked: Aug 20 at 4:06PM
MLS# 100561968
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,092-square-foot medical office property was built in 1971 with wood-frame construction, a shingle roof, electric heat, and a heat pump. The 0.97-acre parcel includes a 26-by-48-foot storage shed/workshop, on-site parking, public water, and a septic tank. The property’s previous use as a veterinary clinic provides a documented medical-related use history.
Positioned on Highway 24 in Swansboro, the property is adjacent to the public library. B-1 zoning applies to the site. The current tenant is expected to vacate with 60 days’ notice, providing a defined timeline for future occupancy or repositioning.
Positioned on Highway 24 in Swansboro, the property is adjacent to the public library. B-1 zoning applies to the site. The current tenant is expected to vacate with 60 days’ notice, providing a defined timeline for future occupancy or repositioning.
Key Highlights
- 2,092‑square‑foot medical office property on 0.97 acres
- 26 ft by 48 ft storage shed/workshop at the rear of the lot
- B‑1 zoning with prior veterinary clinic use
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
$25,892
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
3.72%
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%
$517,840
$517.8K
Cap Rate 7%
$369,886
$369.9K
Cap Rate 9%
$287,689
$287.7K
Market Conditions
NOI Build-Up for 2,092 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
$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 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%
$517,840
Cap Rate 7%
$369,886
Cap Rate 9%
$287,689
Alternative Uses
Best Use
Healthcare Medical
$369.9K
$323.7K – $431.5K
NOI $25,892 @ 7.0% cap · market cap 3.72%
Second Best
Office B
$342.9K
$300.1K – $400.1K
NOI $24,006 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$454.5K
$397.7K – $530.2K
NOI $31,812 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - B-1-zoned medical office property with supplemental storage, parking, and public water service.
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: 2,092‑square‑foot medical office property on 0.97 acres; 26 ft by 48 ft storage shed/workshop at the rear of the lot; B‑1 zoning with prior veterinary clinic use
