Medical Office Building on 2.7
204 Smith Ave Shallotte, NC 28470
204 Smith Ave, Shallotte, NC, 28470
$1,350,000
For Sale
$1,350,000
2.7+/- acre medical office site with a 5,100+/- sf building featuring exam rooms, private offices, and lab space.
Property Size5,100 SF
Lot Size2.71 Acres
Price / SF$264.71
Days on Market154
Property Features for 204 Smith Ave
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Lot size
- 2.71 Acres
- Property subtype
- Single Tenant Office
Building Details
- Year Built
- 2002
Properties For Sale
at 204 Smith Ave Contact us
Listing agency
Coldwell Banker Commercial Sun Coast Partners
(910) 350-1200
Listed by
Kelly Stuart
(910) 350-1200
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 22 at 6:06PM Checked: Jul 22 at 6:06PM
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 Coldwell Banker Commercial Sun Coast Partners
Investment Insights
Based on property information with market context.
On 2.7+/- acres, the property includes a 5,100+/- sf medical office building previously occupied by Novant. Interior improvements include a large reception area, nine private offices, ten exam rooms, a lab, and a large kitchen facility. The lobby features a raised ceiling that brings in natural light to common areas. The property is supported by ample plumbing and drainage, with the existing layout suited to medical or professional office use.
The site is located on the heavily traveled corridor of Smith Avenue in Shallotte, NC, and is near the Smith Avenue/Main Street intersection. The property sits across from the newly expanded Coastal Walk Marketplace.
Two parcels are offered under the same ownership (1820017402 and 1820017403) totaling 2.71+/- acres. A stormwater pond on site is engineered to accommodate additional development square footage, and the deeds with recorded easements are referenced at Brunswick County Book 2152, page 563 (May 24th, 2005), with a right-of-way deed referenced as B2828/P0159 (DOT June 24th, 2008).
The site is located on the heavily traveled corridor of Smith Avenue in Shallotte, NC, and is near the Smith Avenue/Main Street intersection. The property sits across from the newly expanded Coastal Walk Marketplace.
Two parcels are offered under the same ownership (1820017402 and 1820017403) totaling 2.71+/- acres. A stormwater pond on site is engineered to accommodate additional development square footage, and the deeds with recorded easements are referenced at Brunswick County Book 2152, page 563 (May 24th, 2005), with a right-of-way deed referenced as B2828/P0159 (DOT June 24th, 2008).
Key Highlights
- 2.7+/- acre medical/professional office site on the Smith Avenue corridor in Shallotte, NC
- 5,100+/- SF medical office building (built 2002) with large reception, nine private offices, 10 exam rooms, a lab, and kitchen facility
- Stormwater pond engineered to accommodate 20,000+ SF, with the site able to support additional square footage
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.5k | $20.88 |
| − Vacancy | −$20.1k | −$3.95 |
| EGI | $86.4k | $16.93 |
| − OpEx | −$21.6k | −$4.23 |
| NOI | $64.8k | $12.70 |
5,100 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$925.3K
$809.6K – $1.08M
NOI $64,771 @ 7.0% cap · market cap 4.80%
Second Best
Healthcare Medical
$616.4K
$539.4K – $719.2K
NOI $43,149 @ 7.0% cap · market cap 3.20%
Theoretical Best
Multifamily LT 5
$62.45M
$54.64M – $72.85M
NOI $4,371,256 @ 7.0% cap · market cap 323.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Paul C. ...
Physician
Rosa Berry
Physician
Dr. Michael D. ...
Physician
Marie M. Wheatley, ...
Physician
Kimberly Steed MA, ...
Counselor
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FAQs
What type of property is this?
Medical Office Space - 2.7+/- acre medical office site with a 5,100+/- sf building featuring exam rooms, private offices, and lab space.
Where is this medical office space located?
The property is located at 204 Smith Ave Shallotte, NC.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2.7+/- acre medical/professional office site on the Smith Avenue corridor in Shallotte, NC; 5,100+/- SF medical office building (built 2002) with large reception, nine private offices, 10 exam rooms, a lab, and kitchen facility; Stormwater pond engineered to accommodate 20,000+ SF, with the site able to support additional square footage
