Medical Office Space For
For Sale
Contact for pricing
Pending
1904 s Main Street, Wake Forest, NC 27587
Medical office space in a rapidly developing area.
Property Size2,093 SF
Days on Market216
Property Features for 1904 s Main Street
General Information
Standard status
Pending
Size
2,093 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
NAI Tri Properties
Listed By:
Lee Bishop · License #349401
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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 Tri Properties
Investment Insights
Based on property information with market context.
This is a fully built-out medical office space available for sale. The property is situated in a rapidly developing corridor, offering convenient access to various amenities. It is located less than 3 miles from Downtown Wake Forest and less than 1 mile from US-1 (Capital Boulevard), providing excellent visibility and easy commuting options. The property size is 2093 square feet.
Key Highlights
- Fully built out medical office space
- Located in a rapidly developing corridor
- Excellent visibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,128
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,560
$642.6K
Cap Rate 7%
$458,971
$459.0K
Cap Rate 9%
$356,978
$357.0K
Market Conditions
NOI Build-Up for 2,093 SF
Gross rent
$51.5K $24.60/SF
− Vacancy
−$8.6K −$4.13/SF
EGI
$42.8K $20.47/SF
− OpEx
−$10.7K −$5.12/SF
NOI
$32.1K $15.35/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,560
Cap Rate 7%
$458,971
Cap Rate 9%
$356,978
Alternative Uses
Best Use
Office B
$459.0K
$401.6K – $535.5K
NOI $32,128 @ 7.0% cap · market cap 5.18%
Second Best
Healthcare Medical
$409.1K
$358.0K – $477.3K
NOI $28,640 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$597.6K
$522.9K – $697.2K
NOI $41,832 @ 7.0% cap · market cap 6.75%
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
1,406
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27587, NC
76,647
Population
30,571
Households
2.5
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
729
Density / Sq Mi
$125,607
Median Household Income
$59,006
Median Earnings
$1,415
Median Rent
$452,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space in a rapidly developing area.
Where is this medical office space located?
The property is located at 1904 s Main Street Wake Forest, NC.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Fully built out medical office space; Located in a rapidly developing corridor; Excellent visibility
