Building Details

Year Built 1988

Buildings 1

Building Size 5,625 SF

Owner Occupied No

Listing Agency: NAI Allen Tate Beverly-Hanks Commercial n***@beverly-hanks.com Show Phone

Listed By: Chris Mansfield · License ##340236 Show Phone

Source: Dylerealestate

Added: Dec 11, 2025 Changed: Oct 25 Last Checked: Oct 26 at 3:44AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The 5,625-square-foot medical office building at 157 Medical Park Drive is offered as a leasehold interest and delivered vacant. Built in 1988, it has a clinical layout that can serve one user or be arranged for two, with separate meters already in place.

The property is in Brevard’s Medical Park district, less than one mile from Transylvania Regional Hospital. Its existing medical-office configuration supports healthcare-related occupancy, including medical, dental, and therapy practices.

Key Highlights

• 5,625 SF medical office building, built in 1988
• Leasehold interest; delivered vacant
• Clinical layout can accommodate one user or a two‑user configuration

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$86,974

Cap Rate

8.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,739,480 $1.7M

Cap Rate 7%

$1,242,486 $1.2M

Cap Rate 9%

$966,378 $966.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,625 SF

Gross rent

$135.0K $24.00/SF

− Vacancy

−$19.0K −$3.38/SF

EGI

$116.0K $20.62/SF

− OpEx

−$29.0K −$5.15/SF

NOI

$87.0K $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 Rate 5%

$1,739,480

Cap Rate 7%

$1,242,486

Cap Rate 9%

$966,378

Alternative Uses

Best Use

Office B

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $86,974 @ 7.0% cap · market cap 8.09%

Second Best

Healthcare Medical

$1.02M

$888.5K – $1.18M (±1% cap)

NOI $71,078 @ 7.0% cap · market cap 6.61%

Theoretical Best

Office A

$1.66M

$1.45M – $1.93M (±1% cap)

NOI $115,965 @ 7.0% cap · market cap 10.79%

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

Hendersonville Pediatrics Pediatrician Stombaugh Lauretta G ... Pediatrician Henderson Pediatrics: Buell ... Physician Ann Farash Pediatrician Veresa Myers Pediatrician

Suggested Use

Top Pick Spa & Massage Center Hair Salon Nail Salon Kitchen & Bath Showroom Auto Repair Shop Restaurant

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

Location Intelligence

Trade Area within ½ mile

426

Businesses Nearby

Balanced

Demand for This Use

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Vacant clinical space offers a flexible layout for healthcare practices and separate meters for a potential two-user configuration.

Where is this medical office space located?

The property is located at 157 Medical Park Drive Brevard, NC.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: 5,625 SF medical office building, built in 1988; Leasehold interest; delivered vacant; Clinical layout can accommodate one user or a two‑user configuration