Occupied Medical Office
For Sale
Contact for pricing
160 Turnberry Way, Pinehurst, NC 28374
Fully occupied light-medical space at a business park intersection.
Property Size6,853 SF
Price / SF$413.40
Days on Market152
Property Features for 160 Turnberry Way
General Information
Standard status
Active
Size
6,853 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$177,056
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
York Properties, Inc
Listed By:
Judson McMillan · License #4191
Source:
Crexi
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 3:01PM
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 York Properties, Inc
Investment Insights
Based on property information with market context.
This medical office property contains 6,853 square feet and is fully leased to light-medical tenants. The asset is situated within Turnberry Wood Business Park and occupies the northwest corner of US Highway 15-501 and Morganton Road.
Its established occupancy and medical-office configuration provide a straightforward profile for buyers seeking an occupied commercial property. The location at the intersection of two identified roadways places the building within a defined business park setting.
Its established occupancy and medical-office configuration provide a straightforward profile for buyers seeking an occupied commercial property. The location at the intersection of two identified roadways places the building within a defined business park setting.
Key Highlights
- 6,853‑square‑foot medical office property
- 100% occupied by light‑medical tenants
- Located in Turnberry Wood Business Park
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
$82,620
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
2.92%
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%
$1,652,400
$1.7M
Cap Rate 7%
$1,180,286
$1.2M
Cap Rate 9%
$918,000
$918.0K
Market Conditions
NOI Build-Up for 6,853 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
$150.5K $21.96/SF
− Vacancy
−$12.8K −$1.87/SF
EGI
$137.7K $20.09/SF
− OpEx
−$55.1K −$8.04/SF
NOI
$82.6K $12.06/SF
Area
Moore County, NC
Vacancy
8.50%
Lease Rate
$21.96 /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%
$1,652,400
Cap Rate 7%
$1,180,286
Cap Rate 9%
$918,000
Alternative Uses
Best Use
Healthcare Medical
$1.18M
$1.03M – $1.38M
NOI $82,620 @ 7.0% cap · market cap 2.92%
Second Best
Office B
$721.6K
$631.4K – $841.9K
NOI $50,513 @ 7.0% cap · market cap 1.78%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,408 @ 7.0% cap · market cap 3.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28374, NC
18,818
Population
10,532
Households
1.8
Avg Household Size
57
Median Age
63%
College-Educated
98%
High-School Grad
21.0 sq mi
ZIP Area
896
Density / Sq Mi
$106,746
Median Household Income
$56,435
Median Earnings
$1,691
Median Rent
$440,400
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 - Fully occupied light-medical space at a business park intersection.
Where is this medical office space located?
The property is located at 160 Turnberry Way Pinehurst, NC.
What is the asking price?
The asking price for this property is $2,833,000.
What are key features of this property?
This property features: 6,853‑square‑foot medical office property; 100% occupied by light‑medical tenants; Located in Turnberry Wood Business Park
