Four-Unit Office
For Sale
$995,000
315 Page Road N, Pinehurst, NC 28374
Commercial Sale, Pinehurst, NC
Property Size4,312 SF
Price / SF$230.75
Days on Market47
Property Features for 315 Page Road N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OP
Parking features
Parking Lot
Directions
From the Pinehurst traffic circle, take exit onto US-15 N/US-501 N, turn left onto Memorial Drive, turn right onto Page Rd N. Complex is located on the right
Standard status
Active
APN
0023080212
Size
4,312 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT J BLDG 2, UNIT K BLDG 2, UNIT L BLDG 2, UNIT M BLDG 2
Tax Annual Amount
1090
HOA Fee
$10,645 Annually
Legal Description
UNIT J BLDG 2, UNIT K BLDG 2, UNIT L BLDG 2, UNIT M BLDG 2
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1987
Listing Agency:
Carolina Summit Group, LLC
(910) 684-5353
Listed By:
Lee Pittman · License #340689
(910) 638-8108
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 30 at 12:06PM
MLS# 100589178
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium combines four second-floor units into approximately 4,312 square feet of professional workspace. The interior includes multiple private offices, a conference room, media room, open work area, and kitchenette. Electric heating and a parking lot serve the property, which was built in 1987. Zoning is OP (Office & Professional), supporting office-oriented use and healthcare-related occupancy.
The property is located at 315 Page Road N., Building 2, Units J-K-L-M, in Pinehurst Commons in Pinehurst, North Carolina. It sits just off US Highway 15-501 and approximately 0.3 miles from FirstHealth Moore Regional Hospital and Reid Heart Center. Pinehurst Medical Clinic and Pinehurst Surgical are also nearby. HOA dues include water and sewer, and onsite parking is available for employees and visitors.
The property is located at 315 Page Road N., Building 2, Units J-K-L-M, in Pinehurst Commons in Pinehurst, North Carolina. It sits just off US Highway 15-501 and approximately 0.3 miles from FirstHealth Moore Regional Hospital and Reid Heart Center. Pinehurst Medical Clinic and Pinehurst Surgical are also nearby. HOA dues include water and sewer, and onsite parking is available for employees and visitors.
Key Highlights
- Approximately 4,312 square feet across four combined second‑floor units
- OP (Office & Professional) zoning
- Approximately 0.3 miles from FirstHealth Moore Regional Hospital and Reid Heart Center
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
$51,986
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
5.22%
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%
$1,039,720
$1.0M
Cap Rate 7%
$742,657
$742.7K
Cap Rate 9%
$577,622
$577.6K
Market Conditions
NOI Build-Up for 4,312 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
$94.7K $21.96/SF
− Vacancy
−$8.0K −$1.87/SF
EGI
$86.6K $20.09/SF
− OpEx
−$34.7K −$8.04/SF
NOI
$52.0K $12.06/SF
Area
Moore County, NC
Vacancy
8.50%
Lease Rate
$21.96 /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%
$1,039,720
Cap Rate 7%
$742,657
Cap Rate 9%
$577,622
Alternative Uses
Best Use
Healthcare Medical
$742.7K
$649.8K – $866.4K
NOI $51,986 @ 7.0% cap · market cap 5.22%
Second Best
Office B
$454.1K
$397.3K – $529.7K
NOI $31,784 @ 7.0% cap · market cap 3.19%
Theoretical Best
Specialty Retail
$821.6K
$718.9K – $958.6K
NOI $57,515 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 28374, NC
18,818
Population
10,532
Households
1.8
Avg Household Size
57
Median Age
63%
College-Educated
98%
High-School Grad
21.0 sq mi
ZIP Area
896
Density / Sq Mi
$106,746
Median Household Income
$56,435
Median Earnings
$1,691
Median Rent
$440,400
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.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor professional office suite with private rooms, collaborative areas, and kitchenette in an established condominium complex.
Where is this office units located?
The property is located at 315 Page Road N Pinehurst, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Approximately 4,312 square feet across four combined second‑floor units; OP (Office & Professional) zoning; Approximately 0.3 miles from FirstHealth Moore Regional Hospital and Reid Heart Center
