NNN-Leased Medical Office
221 Simpson Park Road, Shelby, NC 28150
For Sale
Contact for pricing
A pediatric dental practice occupies the property under a long-term lease with annual rent increases.
Property Size3,681 SF
Lot Size1.22 Acres
Price / SF$382.79
Days on Market29
Property Features for 221 Simpson Park Road
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Office Units
Tenant in Place
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Matthews
Listed By:
Michael Moreno · License CA #01982943
(818) 522-4497
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 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 Matthews
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Investment Insights
Based on property information with market context.
The medical office building contains 3,681 square feet on a 1.22-acre parcel in Shelby, North Carolina. A pediatric dental practice has operated at the property for more than a decade and signed a 15-year NNN lease earlier this year. More than 14 years remain, with annual rent increases of 3%.
Shelby is the county seat and largest city in Cleveland County, roughly an hour west of Charlotte. The area includes a regional hospital and industrial employers, and more than one in five county residents is under age 18.
Shelby is the county seat and largest city in Cleveland County, roughly an hour west of Charlotte. The area includes a regional hospital and industrial employers, and more than one in five county residents is under age 18.
Key Highlights
- 3,681‑square‑foot building on a 1.22‑acre parcel
- Pediatric dental practice has occupied the property for over 10 years
- 15‑year NNN lease signed earlier this year, with more than 14 years remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,441
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,820
$1.0M
Cap Rate 7%
$720,586
$720.6K
Cap Rate 9%
$560,456
$560.5K
Market Conditions
NOI Build-Up for 3,681 SF
Gross rent
$81.7K $22.20/SF
− Vacancy
−$14.5K −$3.93/SF
EGI
$67.3K $18.27/SF
− OpEx
−$16.8K −$4.57/SF
NOI
$50.4K $13.70/SF
Area
Cleveland County, NC
Vacancy
17.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,820
Cap Rate 7%
$720,586
Cap Rate 9%
$560,456
Alternative Uses
Best Use
Office B
$720.6K
$630.5K – $840.7K
NOI $50,441 @ 7.0% cap · market cap 3.58%
Second Best
Healthcare Medical
$640.9K
$560.8K – $747.7K
NOI $44,863 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$934.8K
$818.0K – $1.09M
NOI $65,436 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Yarboro L Gene Dr Ve — 207 Elizabeth Ave, Shelby, NC 28150
Frequently Asked Questions
What type of property is this?
Medical Office Space - A pediatric dental practice occupies the property under a long-term lease with annual rent increases.
Where is this medical office space located?
The property is located at 221 Simpson Park Road Shelby, NC.
What is the asking price?
The asking price for this property is $1,409,067.
What are key features of this property?
This property features: 3,681‑square‑foot building on a 1.22‑acre parcel; Pediatric dental practice has occupied the property for over 10 years; 15‑year NNN lease signed earlier this year, with more than 14 years remaining
