Remodeled Medical Office
For Sale
Contact for pricing
3051-3057 S Church St, Burlington, NC 27215
Completely remodeled dermatology office condo with new flooring and light fixtures, plus plentiful on-site parking.
Property Size2,088 SF
Price / SF$150.86
Days on Market182
Property Features for 3051-3057 S Church St
General Information
Standard status
Active
Size
2,088 SF
Property subtype
OFFICE
Additional Details
HOA Fee
$1,566
Listing Agency:
NAI Piedmont Triad
(336) 373-0995
Listed By:
Bob Lewis, CCIM, SIOR
(336) 214-1799
Source:
Moodyscre
Added: Mar 17
Changed: Aug 14
Last Checked: Sep 13 at 10:08AM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
Completely remodeled medical office condominium currently used as a dermatological office. The unit includes new flooring and new light fixtures, supporting a clean, updated layout for medical users. With 2,088 square feet, the space is well-suited for continued specialty practice use, and it also offers potential for a medical office or dental practice.
The property is located at 3051-3057 S Church St in Burlington, NC, with easy access off South Church/Edgewood. Plentiful parking on site helps support patient and client access. An HOA is in place and is billed quarterly.
The property is located at 3051-3057 S Church St in Burlington, NC, with easy access off South Church/Edgewood. Plentiful parking on site helps support patient and client access. An HOA is in place and is billed quarterly.
Key Highlights
- 3051‑3057 S Church St, Burlington, NC 27215
- Completely remodeled medical office condominium with new flooring and new light fixtures
- Current use: dermatological office
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
$13,843
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
4.39%
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%
$276,860
$276.9K
Cap Rate 7%
$197,757
$197.8K
Cap Rate 9%
$153,811
$153.8K
Market Conditions
NOI Build-Up for 2,088 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
$27.3K $13.08/SF
− Vacancy
−$4.2K −$2.03/SF
EGI
$23.1K $11.05/SF
− OpEx
−$9.2K −$4.42/SF
NOI
$13.8K $6.63/SF
Area
Alamance County, NC
Vacancy
15.52%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
40.00%
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%
$276,860
Cap Rate 7%
$197,757
Cap Rate 9%
$153,811
Alternative Uses
Best Use
Office B
$579.2K
$506.8K – $675.7K
NOI $40,544 @ 7.0% cap · market cap 12.87%
Second Best
Healthcare Medical
$197.8K
$173.0K – $230.7K
NOI $13,843 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$688.4K
$602.4K – $803.1K
NOI $48,188 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Completely remodeled dermatology office condo with new flooring and light fixtures, plus plentiful on-site parking.
Where is this medical office space located?
The property is located at 3051-3057 S Church St Burlington, NC.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 3051‑3057 S Church St, Burlington, NC 27215; Completely remodeled medical office condominium with new flooring and new light fixtures; Current use: dermatological office
