Office Unit with
New
For Sale
$274,900
200 W King Street, King, NC 27021
Main-road office property with finished area and an unfinished basement.
Property Size1,334 SF
Price / SF$206.07
Days on Market4
Property Features for 200 W King Street
General Information
Standard status
Active
Size
1,334 SF
Property subtype
Commercial
Zoning
Commercial B2
Additional Details
Road Access
Yes
Amenities
Corner Lot
City Lot
Cleared
Building Details
Year Built
1957
Listing Agency:
ANN CHILTON REALTY, INC.
(336) 983-9000
Listed By:
LISA H. SIMMONS
(336) 817-4275
Source:
Corcoran
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 3:05PM
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 ANN CHILTON REALTY, INC.
Investment Insights
Based on property information with market context.
This office property includes 1,334 finished square feet along with an additional 1,080 square feet of unfinished basement area. The building dates to 1957 and is positioned on a main road in King, North Carolina.
The property information identifies Commercial B2 or Residential zoning and references potential office, medical, retail, or residential use. Its roadside setting is described as having high traffic and visibility, supporting exposure for a range of commercial applications.
The property information identifies Commercial B2 or Residential zoning and references potential office, medical, retail, or residential use. Its roadside setting is described as having high traffic and visibility, supporting exposure for a range of commercial applications.
Key Highlights
- 1,334 finished square feet
- 1,080 square feet of unfinished basement area
- Built in 1957
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
$14,369
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
5.23%
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%
$287,380
$287.4K
Cap Rate 7%
$205,271
$205.3K
Cap Rate 9%
$159,656
$159.7K
Market Conditions
NOI Build-Up for 1,334 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
$27.2K $20.40/SF
− Vacancy
−$3.3K −$2.45/SF
EGI
$23.9K $17.95/SF
− OpEx
−$9.6K −$7.18/SF
NOI
$14.4K $10.77/SF
Area
Stokes County, NC
Vacancy
12.00%
Lease Rate
$20.40 /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%
$287,380
Cap Rate 7%
$205,271
Cap Rate 9%
$159,656
Alternative Uses
Best Use
Retail
$2.09M
$1.83M – $2.44M
NOI $146,210 @ 7.0% cap · market cap 53.19%
Second Best
Healthcare Medical
$205.3K
$179.6K – $239.5K
NOI $14,369 @ 7.0% cap · market cap 5.23%
Theoretical Best
Multifamily LT 5
$15.87M
$13.89M – $18.51M
NOI $1,110,851 @ 7.0% cap · market cap 404.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 27021, NC
17,345
Population
7,926
Households
2.2
Avg Household Size
46
Median Age
24%
College-Educated
93%
High-School Grad
53.7 sq mi
ZIP Area
323
Density / Sq Mi
$61,736
Median Household Income
$43,041
Median Earnings
$912
Median Rent
$203,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Main-road office property with finished area and an unfinished basement.
Where is this office units located?
The property is located at 200 W King Street King, NC.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,334 finished square feet; 1,080 square feet of unfinished basement area; Built in 1957
