Leased Medical Office
149 NEW LEICESTER HWY Asheville, NC 28806
149 NEW LEICESTER HWY, Asheville, NC, 28806
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For Sale
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Purpose-built physical therapy facility with 346 feet of road frontage on 1.78 acres, leased through 2031.
Property Size6,740 SF
Lot Size1.78 Acres
Price / SF$250.74
Days on Market45
Property Features for 149 NEW LEICESTER HWY
General Information
- Standard status
- Active
- Size
- 6,740 SF
- Lot size
- 1.78 Acres
- Property subtype
- Office
Building Details
- Year Built
- 2012
Listing agency
Likewise Commercial Real Estate
(828) 575-0272
Listed by
Jessica Auge, CCIM · License #NC 288191
Source
Crexi
Added: Jun 8 Updated: Jul 21 at 4:30PM Checked: Jul 21 at 4:30PM
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 Likewise Commercial Real Estate
Investment Insights
Based on property information with market context.
This 6,740 SF purpose-built medical office facility was designed for a full-service physical therapy practice and features a highly functional layout that can support a range of medical, wellness, and service-oriented uses. The property is currently leased to a regional physical therapy and sports medicine practice.
The site sits on 1.78 acres and is zoned HB (Highway Business). It offers 346 feet of road frontage, with convenient access for the local community and visibility for prospective patients and customers.
The property is leased until 2031, and the tenant has renewal options. Showing requests require at least 48 hours’ notice, and the tenant should not be disturbed.
The site sits on 1.78 acres and is zoned HB (Highway Business). It offers 346 feet of road frontage, with convenient access for the local community and visibility for prospective patients and customers.
The property is leased until 2031, and the tenant has renewal options. Showing requests require at least 48 hours’ notice, and the tenant should not be disturbed.
Key Highlights
- Purpose‑built 6,740 SF physical therapy facility built in 2012 with a functional layout for medical, wellness, or professional use
- Leased to a regional physical therapy and sports medicine practice, providing stable income with a stated 6% CAP Rate
- Lease in place through 2031 with tenant renewal options (confirm lease and NOI details with the broker)
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.7k | $25.32 |
| − Vacancy | −$3.9k | −$0.58 |
| EGI | $166.7k | $24.74 |
| − OpEx | −$41.7k | −$6.18 |
| NOI | $125.0k | $18.55 |
6,740 SF · lease $25.32/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.79M
$1.56M – $2.08M
NOI $125,049 @ 7.0% cap · market cap 7.40%
Second Best
Healthcare Medical
$1.60M
$1.40M – $1.86M
NOI $111,892 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,189 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jessan Aerie Hager
Physician
Annette Dupont
Physician
Christopher Power
Physician
PT Solutions of Echo ...
Physician
Marc Modica
Physician
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Similar Off Market Nearby
- Mountain Valley Vet Hospital — 348 New Leicester Hwy, Asheville, NC 28806
- Asheville Veterinary Associates - West — 50 New Leicester Hwy, Asheville, NC 28806
- Dr. McCorkle — 348 New Leicester Hwy, Asheville, NC 28806
FAQs
What type of property is this?
Medical Office Space - Purpose-built physical therapy facility with 346 feet of road frontage on 1.78 acres, leased through 2031.
Where is this medical office space located?
The property is located at 149 NEW LEICESTER HWY Asheville, NC.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Purpose‑built 6,740 SF physical therapy facility built in 2012 with a functional layout for medical, wellness, or professional use; Leased to a regional physical therapy and sports medicine practice, providing stable income with a stated 6% CAP Rate; Lease in place through 2031 with tenant renewal options (confirm lease and NOI details with the broker)
