Medical Office Investment with Metal
2150 Herbert Court, Greenville, NC 27834
For Sale
Contact for pricing
Fully leased medical office with standing seam metal roof and a lease extending through December 31, 2031.
Property Size11,441 SF
Lot Size1.24 Acres
Price / SF$281.12
Days on Market214
Property Features for 2150 Herbert Court
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Occupancy
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Waldrop Properties Llc
Listed By:
Michael Waldrop · License #NC 158376
(919) 612-6696
Source:
Crexi
Added: Apr 10
Changed: Oct 26
Last Checked: Nov 8 at 6:27AM
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 Waldrop Properties Llc
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Investment Insights
Based on property information with market context.
2150 Herbert Court is a well-maintained, single-tenant medical office investment property currently fully leased to ECU Pediatric Specialty Care, a division of East Carolina University operating on behalf of the State of North Carolina. The tenant has occupied the building since 2005 and recently extended its commitment; the current lease expires December 31, 2031. The property features a standing seam metal roof, sits on approximately 1.24 acres, and is managed with landlord responsibility for property taxes, insurance, and common area maintenance, while the tenant handles utilities and janitorial services.
The property is located in the heart of Greenville’s established medical district, with close proximity to ECU Health Medical Center and the Brody School of Medicine. The offering cites net operating income of $225,137 with 3% annual rent escalations, supporting predictable long-term income.
The property is located in the heart of Greenville’s established medical district, with close proximity to ECU Health Medical Center and the Brody School of Medicine. The offering cites net operating income of $225,137 with 3% annual rent escalations, supporting predictable long-term income.
Key Highlights
- Single‑tenant medical office investment built in 2005, fully leased to ECU Pediatric Specialty Care.
- Tenant occupied since 2005 and extended—current lease expires December 31, 2031.
- Annual rent NOI reported at $225,137 with 3% annual rent escalations for built‑in growth.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,020
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,580,400
$2.6M
Cap Rate 7%
$1,843,143
$1.8M
Cap Rate 9%
$1,433,556
$1.4M
Market Conditions
NOI Build-Up for 11,441 SF
Gross rent
$240.3K $21.00/SF
− Vacancy
−$25.2K −$2.21/SF
EGI
$215.0K $18.80/SF
− OpEx
−$86.0K −$7.52/SF
NOI
$129.0K $11.28/SF
Area
Pitt County, NC
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,580,400
Cap Rate 7%
$1,843,143
Cap Rate 9%
$1,433,556
Alternative Uses
Best Use
Healthcare Medical
$1.84M
$1.61M – $2.15M
NOI $129,020 @ 7.0% cap · market cap 4.01%
Second Best
Office B
$1.76M
$1.54M – $2.05M
NOI $123,177 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,339 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,811
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Vet Center — Greenville, NC 27834
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office with standing seam metal roof and a lease extending through December 31, 2031.
Where is this medical office space located?
The property is located at 2150 Herbert Court Greenville, NC.
What is the asking price?
The asking price for this property is $3,216,242.
What are key features of this property?
This property features: Single‑tenant medical office investment built in 2005, fully leased to ECU Pediatric Specialty Care.; Tenant occupied since 2005 and extended—current lease expires December 31, 2031.; Annual rent NOI reported at $225,137 with 3% annual rent escalations for built‑in growth.
