Medical Office
New
For Sale
$6,985,000
2015 and 2041 Valleygate Drive, Fayetteville, NC 28304
NNN lease terms place routine property responsibilities with the tenant.
Property Size23,088 SF
Days on Market2
Property Features for 2015 and 2041 Valleygate Drive
General Information
Standard status
Active
Size
23,088 SF
Property subtype
Office/Medical
Net Operating Income
$487,146
Additional Details
Cap Rate
6.97%
Building Details
Building Size
23,088 SF
Tenancy
Single
Listed By:
Patrick Murray, CCIM, SIOR · License #NC #231098
(910) 861-0449
Source:
Grantmurrayre
Added: Oct 1
Last Checked: Oct 2 at 6:20PM
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 Patrick Murray, CCIM, SIOR
Investment Insights
Based on property information with market context.
Medical office space at 2015 and 2041 Valleygate Drive is leased to Cape Fear Valley Health System. The leases use an NNN structure and include seven-year initial terms, with three three-year renewal options.
Annual rent increases of 2% begin in Year 3. The investment is presented with a 6.97% cap rate.
Annual rent increases of 2% begin in Year 3. The investment is presented with a 6.97% cap rate.
Key Highlights
- Leased to Cape Fear Valley Health System
- 6.97% cap rate
- Seven‑year initial lease terms
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
$282,244
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
4.04%
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%
$5,644,880
$5.6M
Cap Rate 7%
$4,032,057
$4.0M
Cap Rate 9%
$3,136,044
$3.1M
Market Conditions
NOI Build-Up for 23,088 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
$471.0K $20.40/SF
− Vacancy
−$94.7K −$4.10/SF
EGI
$376.3K $16.30/SF
− OpEx
−$94.1K −$4.07/SF
NOI
$282.2K $12.22/SF
Area
Fayetteville, NC
Vacancy
20.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$5,644,880
Cap Rate 7%
$4,032,057
Cap Rate 9%
$3,136,044
Alternative Uses
Best Use
Office B
$4.03M
$3.53M – $4.70M
NOI $282,244 @ 7.0% cap · market cap 4.04%
Second Best
Healthcare Medical
$3.42M
$2.99M – $3.99M
NOI $239,376 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$5.06M
$4.43M – $5.90M
NOI $354,188 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
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?
Medical Office Space - NNN lease terms place routine property responsibilities with the tenant.
Where is this medical office space located?
The property is located at 2015 and 2041 Valleygate Drive Fayetteville, NC.
What is the asking price?
The asking price for this property is $6,985,000.
What are key features of this property?
This property features: Leased to Cape Fear Valley Health System; 6.97% cap rate; Seven‑year initial lease terms
