Professional Office Building with Flexible
New
For Sale
$1,200,000
230 W Pennsylvania Ave, Southern Pines, NC 28387
Built in 2000, the professional office building is currently occupied by three month-to-month tenants.
Property Size5,200 SF
Price / SF$230.77
Days on Market2
Property Features for 230 W Pennsylvania Ave
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$1,200,000
Building Details
Building Size
5,200 SF
Year Built
2000
Buildings
1
Tenancy
Multi
Listing Agency:
Lee & Associates - Raleigh Durham
(919) 522-9915
Listed By:
Christina Coffey · License #194187
(919) 522-9915
Source:
Lee-associates
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 5:20AM
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 Lee & Associates - Raleigh Durham
Investment Insights
Based on property information with market context.
230 W Pennsylvania Avenue is a 5,200 SF professional office building built in 2000, offering a versatile layout that can support a single occupant or multiple tenants. The property is currently occupied by three month-to-month tenants, creating flexibility for an owner-user while also fitting an investor approach.
The building is located on W Pennsylvania Avenue in Southern Pines, with convenient access to Downtown Southern Pines, Pinehurst, Aberdeen, and US-1. It also benefits from adjacent public parking and street parking. Vehicular traffic on W Pennsylvania Ave is listed at 30,500 VPD (per NCDOT, 2024), and SE Broad St at 3,900 VPD, supporting visibility for businesses serving office, professional, and service needs.
The space can be positioned for a range of professional and service-oriented uses, including businesses such as legal, financial, medical, and other professional services, depending on tenant configuration.
The building is located on W Pennsylvania Avenue in Southern Pines, with convenient access to Downtown Southern Pines, Pinehurst, Aberdeen, and US-1. It also benefits from adjacent public parking and street parking. Vehicular traffic on W Pennsylvania Ave is listed at 30,500 VPD (per NCDOT, 2024), and SE Broad St at 3,900 VPD, supporting visibility for businesses serving office, professional, and service needs.
The space can be positioned for a range of professional and service-oriented uses, including businesses such as legal, financial, medical, and other professional services, depending on tenant configuration.
Key Highlights
- 5,200 SF professional office building built in 2000
- Currently occupied by three month‑to‑month tenants
- Single‑tenant or multi‑tenant layout
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 | $146.0k | $28.08 |
| − Vacancy | −$94.9k | −$18.25 |
| EGI | $51.1k | $9.83 |
| − OpEx | −$12.8k | −$2.46 |
| NOI | $38.3k | $7.37 |
5,200 SF · lease $28.08/SF/yr · vacancy 65.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$547.6K
$479.1K – $638.8K
NOI $38,329 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$990.8K
$867.0K – $1.16M
NOI $69,359 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 28387, NC
16,413
Population
8,731
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
93%
High-School Grad
29.5 sq mi
ZIP Area
556
Density / Sq Mi
$73,587
Median Household Income
$51,681
Median Earnings
$1,137
Median Rent
$366,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2000, the professional office building is currently occupied by three month-to-month tenants.
Where is this office building located?
The property is located at 230 W Pennsylvania Ave Southern Pines, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,200 SF professional office building built in 2000; Currently occupied by three month‑to‑month tenants; Single‑tenant or multi‑tenant layout
