Medical Office Building with Two
For Sale
$655,000
276 Old Mocksville Rd Ste 800, Statesville, NC 28625
Built in 1990, this 2,800 SF two-unit building is zoned O-I-2 and suited for office or medical use.
Property Size2,800 SF
Price / SF$233.93
Days on Market50
Property Features for 276 Old Mocksville Rd Ste 800
General Information
Standard status
Active
Size
2,800 SF
Zoning
O-I-2
Additional Details
Office Units
2
Building Details
Year Built
1990
Listing Agency:
eXp Commercial | North Carolina
Listed By:
Steve Mallory · License #343458
(704) 928-8981
Source:
Expcommercial
Added: Jul 18
Changed: Aug 23
Last Checked: Sep 4 at 2:05AM
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 eXp Commercial | North Carolina
Investment Insights
Based on property information with market context.
For sale, this 2,800 SF, two-unit property at 276 Old Mocksville Rd (Ste 800) in Statesville, NC was built in 1990 and is described as well maintained. The layout supports office or medical use, offering a flexible option for an owner-occupant or investor looking to manage multiple units within one building.
The property is located in the Charlotte MSA within the Iredell submarket and is zoned O-I-2. Its configuration and maintained condition are intended to provide a functional setting for professional services that fit the existing zoning parameters.
The property is located in the Charlotte MSA within the Iredell submarket and is zoned O-I-2. Its configuration and maintained condition are intended to provide a functional setting for professional services that fit the existing zoning parameters.
Key Highlights
- Built in 1990: 2,800 SF two‑unit commercial building at 276 Old Mocksville Rd, Ste 800, Statesville, NC 28625
- Two units in one building, suited for office or medical use
- Zoned O‑I‑2
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
$49,106
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
7.50%
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%
$982,120
$982.1K
Cap Rate 7%
$701,514
$701.5K
Cap Rate 9%
$545,622
$545.6K
Market Conditions
NOI Build-Up for 2,800 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
$72.9K $26.04/SF
− Vacancy
−$7.4K −$2.66/SF
EGI
$65.5K $23.38/SF
− OpEx
−$16.4K −$5.85/SF
NOI
$49.1K $17.54/SF
Area
Iredell County, NC
Vacancy
10.20%
Lease Rate
$26.04 /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%
$982,120
Cap Rate 7%
$701,514
Cap Rate 9%
$545,622
Alternative Uses
Best Use
Office B
$701.5K
$613.8K – $818.4K
NOI $49,106 @ 7.0% cap · market cap 7.50%
Second Best
Healthcare Medical
$557.1K
$487.5K – $650.0K
NOI $38,998 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$881.3K
$771.1K – $1.03M
NOI $61,690 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28625, NC
38,396
Population
16,917
Households
2.3
Avg Household Size
43
Median Age
21%
College-Educated
89%
High-School Grad
199.3 sq mi
ZIP Area
193
Density / Sq Mi
$64,657
Median Household Income
$38,123
Median Earnings
$996
Median Rent
$216,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Statesville Bovine & Equine: Blackwelder J T DVM — 181 Mocksville Hwy B, Statesville, NC 28625
- Statesville Equine Clinic — 181 Mocksville Hwy B, Statesville, NC 28625
- Statesville Bovine & Equine: Pendergrass Brett J DVM — 181 Mocksville Hwy B, Statesville, NC 28625
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 1990, this 2,800 SF two-unit building is zoned O-I-2 and suited for office or medical use.
Where is this medical office space located?
The property is located at 276 Old Mocksville Rd Ste 800 Statesville, NC.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Built in 1990: 2,800 SF two‑unit commercial building at 276 Old Mocksville Rd, Ste 800, Statesville, NC 28625; Two units in one building, suited for office or medical use; Zoned O‑I‑2
