Downtown Mixed-Use
For Sale
$1,400,000
15 W Main Street, Brevard, NC 28712
Two-story property combines retail space with separately accessed professional offices and rear parking.
Property Size7,402 SF
Price / SF$189.14
Days on Market10
Property Features for 15 W Main Street
General Information
Standard status
Active
Size
7,402 SF
Total Parking Spaces
2
Property subtype
Retail
Occupancy
100%
Amenities
Size: 0.12, Size Units: Acres
Description: Flat, Rubber
Flooring: Carpet, Vinyl
Garage SqFt: 0
Details: Central Air
Heating: Heat Pump
Days on Market: 0, Listing Price: 1400000, Status: Active
Parking Total: 2
Building Area: 7402, Stories: 2, Year Built: 1910, Construction Type: Site Built
City: Brevard, State: NC, Zip: 28712, County: Transylvania, Directions: 15 West Main St. Brevard NC 28712
Zoning: DMU
Sewer: Public Sewer, Water Source: City, Utilities: Electricity Connected
Auction Y/N: 0
Building Details
Building Size
7,402 SF
Year Built
1910
Buildings
1
Stories
2
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Looking Glass Realty
(828) 423-9010
Listed By:
Jason Shepherd · License #278602
(828) 423-9010
Source:
Blackstreaminternational
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 3:14PM
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 Looking Glass Realty
Investment Insights
Based on property information with market context.
This two-story mixed-use building includes a 4,000-square-foot main-level retail area and 3,400 square feet of office space upstairs. The retail floor was configured as two shops and has separate HVAC systems and electrical meters. The upper level has its own entrance, a large common area, eight private offices, a shared kitchen, and two bathrooms. Two new HVAC systems serve the office level.
The property is located on West Main Street in downtown Brevard, North Carolina, with two parking spaces behind the building. The owner currently occupies the property.
The property is located on West Main Street in downtown Brevard, North Carolina, with two parking spaces behind the building. The owner currently occupies the property.
Key Highlights
- 4,000‑square‑foot main‑floor retail area on West Main Street
- 3,400‑square‑foot upper‑level office area with 8 individual offices
- Separate upstairs entrance with common area, kitchen, and 2 bathrooms
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
$114,450
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
8.18%
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%
$2,289,000
$2.3M
Cap Rate 7%
$1,635,000
$1.6M
Cap Rate 9%
$1,271,667
$1.3M
Market Conditions
NOI Build-Up for 7,402 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
$177.6K $24.00/SF
− Vacancy
−$25.0K −$3.38/SF
EGI
$152.6K $20.62/SF
− OpEx
−$38.1K −$5.15/SF
NOI
$114.4K $15.46/SF
Area
Transylvania County, NC
Vacancy
14.10%
Lease Rate
$24.00 /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%
$2,289,000
Cap Rate 7%
$1,635,000
Cap Rate 9%
$1,271,667
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.91M
NOI $114,450 @ 7.0% cap · market cap 8.18%
Second Best
Mixed Use
$1.33M
$1.16M – $1.55M
NOI $92,932 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,600 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
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?
Mixed-use property - Two-story property combines retail space with separately accessed professional offices and rear parking.
Where is this mixed-use property located?
The property is located at 15 W Main Street Brevard, NC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4,000‑square‑foot main‑floor retail area on West Main Street; 3,400‑square‑foot upper‑level office area with 8 individual offices; Separate upstairs entrance with common area, kitchen, and 2 bathrooms
