Hospital-Adjacent Medical
For Sale
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1781 METROMEDICAL DR, Fayetteville, NC 28304
Hospital-adjacent medical property leased to Cape Fear Valley Health with an on-site ambulatory surgery center and operating rooms.
Property Size40,816 SF
Price / SF$196
Days on Market57
Property Features for 1781 METROMEDICAL DR
General Information
Standard status
Active
Size
40,816 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$807,673
Building Details
Year Built
1981
Year Renovated
2009
Stories
1
Units
1
Tenancy
Single
Listing Agency:
JDS Real Estate Services, Inc.
Listed By:
Jennifer Stein · License #01507135
(213) 446-5366
Source:
Crexi
Added: Jul 20
Changed: Sep 13
Last Checked: Sep 14 at 6:06AM
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 JDS Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This hospital-adjacent medical facility features a dedicated ambulatory surgery center within the Cape Fear Valley Health network. The asset is 100% leased to Cape Fear Valley Health and includes Fayetteville Ambulatory Surgery Center with 11 operating rooms, a dedicated Recovery Care Center, and conditioned space configured with a main level, second floor, and a climate-controlled lower level. Originally established in 1981 and later expanded in 1987, the facility was renovated in 2002 and 2009. It is fully heated and cooled and includes two backup generators to support operational continuity.
The property contains approximately 23,810 square feet on the main level, 5,465 square feet on the second floor, and an 11,541 square-foot climate-controlled lower level, approximately half of which is improved office space with the balance dedicated to conditioned storage. The lease includes four successive six-month renewal options with a 5% contractual rent increase, and the first extension has been exercised through January 31, 2027.
Recent capital improvements include a new shingle roof in 2020, replacement of the boiler and associated piping by the tenant in 2024, and replacement of the building’s main water and sewer service lines by the landlord in 2024.
The property contains approximately 23,810 square feet on the main level, 5,465 square feet on the second floor, and an 11,541 square-foot climate-controlled lower level, approximately half of which is improved office space with the balance dedicated to conditioned storage. The lease includes four successive six-month renewal options with a 5% contractual rent increase, and the first extension has been exercised through January 31, 2027.
Recent capital improvements include a new shingle roof in 2020, replacement of the boiler and associated piping by the tenant in 2024, and replacement of the building’s main water and sewer service lines by the landlord in 2024.
Key Highlights
- Total size: 40,816 square feet
- 11 operating rooms plus a dedicated Recovery Care Center
- 100% leased to Cape Fear Valley Health with renewals through January 31, 2027
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
$423,180
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
5.29%
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%
$8,463,600
$8.5M
Cap Rate 7%
$6,045,429
$6.0M
Cap Rate 9%
$4,702,000
$4.7M
Market Conditions
NOI Build-Up for 40,816 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
$783.7K $19.20/SF
− Vacancy
−$78.4K −$1.92/SF
EGI
$705.3K $17.28/SF
− OpEx
−$282.1K −$6.91/SF
NOI
$423.2K $10.37/SF
Area
Fayetteville, NC
Vacancy
10.00%
Lease Rate
$19.20 /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%
$8,463,600
Cap Rate 7%
$6,045,429
Cap Rate 9%
$4,702,000
Alternative Uses
Best Use
Healthcare Medical
$6.05M
$5.29M – $7.05M
NOI $423,180 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.95M
$7.83M – $10.44M
NOI $626,150 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
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Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Hospital-adjacent medical property leased to Cape Fear Valley Health with an on-site ambulatory surgery center and operating rooms.
Where is this medical center located?
The property is located at 1781 METROMEDICAL DR Fayetteville, NC.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Total size: 40,816 square feet; 11 operating rooms plus a dedicated Recovery Care Center; 100% leased to Cape Fear Valley Health with renewals through January 31, 2027
