Sanford Medical Office Building For
For Sale
Contact for pricing
1922 K M Wicker Memorial Dr, Sanford, NC 27330
Freestanding medical office building in Sanford, North Carolina available for sale.
Property Size10,228 SF
Price / SF$136.88
Days on Market171
Property Features for 1922 K M Wicker Memorial Dr
General Information
Standard status
Active
Size
10,228 SF
Property subtype
Office, Retail
Zoning
OI
Building Details
Year Built
2000
Listing Agency:
Matthews
Listed By:
Brett Baumgartner · License #TX 701324
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 3 at 4:10AM
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 Matthews
Investment Insights
Based on property information with market context.
This vacant medical office building in Sanford, North Carolina, is suitable for an end-user or investor. The professionally designed medical buildout features an open floor plan, 6 private offices, 9 workstations, a reception area, and ADA-compliant restrooms. The property has a highly re-tenantable footprint of approximately 10,228 square feet, accommodating a range of medical and daily-needs users. The layout allows for single tenants or divisible configurations to enhance leasing velocity. Located within a dense medical park, this freestanding building offers the opportunity to own a standalone building. The property's OI zoning accommodates office, warehouse, light industrial, research, and flex space, making it suitable for a diverse range of business uses. Priced at $136 per square foot, the asset offers a compelling value proposition, significantly below estimated replacement cost.
Key Highlights
- Priced well below replacement cost at $136 per square foot.
- Professionally designed medical buildout featuring 6 private offices, 9 workstations, and reception area.
- Freestanding building in a dense medical 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
$76,705
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
5.48%
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%
$1,534,100
$1.5M
Cap Rate 7%
$1,095,786
$1.1M
Cap Rate 9%
$852,278
$852.3K
Market Conditions
NOI Build-Up for 10,228 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
$137.5K $13.44/SF
− Vacancy
−$9.6K −$0.94/SF
EGI
$127.8K $12.50/SF
− OpEx
−$51.1K −$5.00/SF
NOI
$76.7K $7.50/SF
Area
Lee County, NC
Vacancy
7.00%
Lease Rate
$13.44 /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%
$1,534,100
Cap Rate 7%
$1,095,786
Cap Rate 9%
$852,278
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,669 @ 7.0% cap · market cap 10.62%
Second Best
Healthcare Medical
$1.10M
$958.8K – $1.28M
NOI $76,705 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,089 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office building in Sanford, North Carolina available for sale.
Where is this medical office space located?
The property is located at 1922 K M Wicker Memorial Dr Sanford, NC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Priced well below replacement cost at $136 per square foot.; Professionally designed medical buildout featuring 6 private offices, 9 workstations, and reception area.; Freestanding building in a dense medical park.
