Medical/Dental Office on Sweeten
For Sale
Contact for pricing
Pending
3179 Sweeten Creek Rd, Asheville, NC 28803
7,000 SF medical/dental office in South Asheville.
Property Size7,000 SF
Lot Size0.96 Acres
Days on Market189
Property Features for 3179 Sweeten Creek Rd
General Information
Standard status
Pending
Size
7,000 SF
Class
B
Lot size
0.96 Acres
Property subtype
Office, Retail
Zoning
CI
Lease Type
NNN
Building Details
Year Built
1983
Year Renovated
2011
Buildings
1
Stories
1
Listing Agency:
G/M PROPERTY GROUP LLC
(828) 281-4024
Listed By:
John Menkes · License #NC 194446
Source:
Crexi
Added: Feb 14
Changed: Aug 8
Last Checked: Jul 24 at 6:05PM
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 G/M PROPERTY GROUP LLC
Investment Insights
Based on property information with market context.
The property at 3179 Sweeten Creek Road is a medical/dental office property featuring approximately 7,000 square feet of space. It is situated on approximately 0.96 acres along a primary commercial corridor in South Asheville. The property has 29 paved parking spaces and approximately 216 feet of frontage on Sweeten Creek Road, which sees approximately 17,000 vehicles per day. The building has a functional medical layout that includes approximately 14 exam rooms with sinks, 4 restrooms, sterilization and lab areas, private offices, and a sizable waiting room. Five existing entrances allow for potential subdivision into 2–5 units. The property offers flexible zoning, strong parking, multiple entrances, and proximity to regional healthcare infrastructure. It is suitable for a single-user practice or multi-tenant configuration and offers both immediate usability and long-term repositioning potential for a multitude of commercial uses.
Key Highlights
- ±7,000 SF medical/dental office property in South Asheville.
- Located on ±0.96 acres with 29 parking spaces and high visibility (±17,000 VPD).
- Functional medical layout with 14 exam rooms (with sinks), sterilization and lab areas.
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
$129,873
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
5.90%
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%
$2,597,460
$2.6M
Cap Rate 7%
$1,855,329
$1.9M
Cap Rate 9%
$1,443,033
$1.4M
Market Conditions
NOI Build-Up for 7,000 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
$177.2K $25.32/SF
− Vacancy
−$4.1K −$0.58/SF
EGI
$173.2K $24.74/SF
− OpEx
−$43.3K −$6.18/SF
NOI
$129.9K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /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%
$2,597,460
Cap Rate 7%
$1,855,329
Cap Rate 9%
$1,443,033
Alternative Uses
Best Use
Office B
$1.86M
$1.62M – $2.16M
NOI $129,873 @ 7.0% cap · market cap 5.90%
Second Best
Healthcare Medical
$1.66M
$1.45M – $1.94M
NOI $116,208 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,944 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28803, NC
34,108
Population
18,322
Households
1.9
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
38.4 sq mi
ZIP Area
888
Density / Sq Mi
$70,638
Median Household Income
$41,057
Median Earnings
$1,455
Median Rent
$408,600
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
- WNC Veterinary Hospital — 2 Pond St, Arden, NC 28704
- Dr. Brett Young — 2 Pond St, Arden, NC 28704
- Western Carolina Veterinary Surgery — 1 Atkins St, Arden, NC 28704
- Partners Animal Hospital Asheville — 1990 Hendersonville Rd, Asheville, NC 28803
- Sweeten Creek Animal and Bird Hospital — 3131 Sweeten Creek Rd, Asheville, NC 28803
Frequently Asked Questions
What type of property is this?
Medical Office Space - 7,000 SF medical/dental office in South Asheville.
Where is this medical office space located?
The property is located at 3179 Sweeten Creek Rd Asheville, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ±7,000 SF medical/dental office property in South Asheville.; Located on ±0.96 acres with **29 parking spaces and high visibility** (±17,000 VPD).; Functional medical layout with **14 exam rooms (with sinks), sterilization and lab areas.**
