Medical Office Building in
For Sale
$1,075,000
157 Medical Park Drive, Brevard, NC 28712
5,625 SF medical office building for sale.
Property Size5,625 SF
Price / SF$191.11
Days on Market250
Property Features for 157 Medical Park Drive
General Information
Standard status
Active
Size
5,625 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
NAI ALLEN TATE BEVERLY-HANKS COMMERCIAL
(828) 210-3940
Listed By:
CHRIS MANSFIELD · License #340236
Source:
Corcoran
Added: Dec 11, 2025
Changed: Aug 18
Last Checked: Aug 18 at 4:43AM
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 NAI ALLEN TATE BEVERLY-HANKS COMMERCIAL
Investment Insights
Based on property information with market context.
The property at 157 Medical Park Dr is a 5,625 SF medical office building located in Brevard’s established Medical Park district. It is situated less than one mile from Transylvania Regional Hospital. The building is offered as a leasehold interest and will be delivered vacant. The property features an efficient clinical layout suitable for medical, dental, therapy, or other healthcare uses. The building could accommodate a single user or be divided into a two-user building, with separate meters already in place.
Key Highlights
- 5,625 SF medical office building, ideal for healthcare uses.
- Located in Brevard’s established Medical Park district, near Transylvania Regional Hospital.
- Efficient clinical layout suitable for medical, dental, or therapy practices.
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
$86,974
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
8.09%
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%
$1,739,480
$1.7M
Cap Rate 7%
$1,242,486
$1.2M
Cap Rate 9%
$966,378
$966.4K
Market Conditions
NOI Build-Up for 5,625 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
$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 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%
$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
NOI $86,974 @ 7.0% cap · market cap 8.09%
Second Best
Healthcare Medical
$1.02M
$888.5K – $1.18M
NOI $71,078 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,965 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - 5,625 SF medical office building for sale.
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, ideal for healthcare uses.; Located in Brevard’s established Medical Park district, near Transylvania Regional Hospital.; Efficient clinical layout suitable for medical, dental, or therapy practices.
