Renovated Office
For Sale
$1,371,000
337 N Main Street, Hendersonville, NC 28792
Central Business District zoning, frontage along N Main St, and on-site parking distinguish this commercial property.
Property Size1,900 SF
Price / SF$242.40
Days on Market46
Property Features for 337 N Main Street
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
7
Property subtype
Office
Zoning
Central Business District
Additional Details
Road Access
Yes
Amenities
Size: 0.07, Size Units: Acres
Days on Market: 0, Listing Price: 1371000, Status: Active
Year Built: 1900, Construction Type: Site Built
City: Hendersonville, State: NC, Zip: 28792, County: Henderson
Auction Y/N: 0
Building Details
Building Size
1,900 SF
Year Built
1900
Year Renovated
2008
Buildings
1
Listing Agency:
Whitney Commercial Real Estate
(828) 665-9085
Listed By:
Andrew Riddle · License #297804
(828) 243-3610
Source:
Blackstreaminternational
Added: Aug 21
Changed: Oct 4
Last Checked: Oct 4 at 6:45AM
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 Whitney Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 5,656-square-foot office building underwent renovation in 2008 and has a new roof. The property includes seven parking spaces and is zoned for the Central Business District.
The building fronts N Main St at 337 N Main St in Hendersonville, North Carolina.
The building fronts N Main St at 337 N Main St in Hendersonville, North Carolina.
Key Highlights
- 5,656‑square‑foot office building built in 1900
- Renovated in 2008; new roof
- Frontage along N Main St in Hendersonville
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
$98,957
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
7.22%
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%
$1,979,140
$2.0M
Cap Rate 7%
$1,413,671
$1.4M
Cap Rate 9%
$1,099,522
$1.1M
Market Conditions
NOI Build-Up for 5,656 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
$135.7K $24.00/SF
− Vacancy
−$3.8K −$0.67/SF
EGI
$131.9K $23.33/SF
− OpEx
−$33.0K −$5.83/SF
NOI
$99.0K $17.50/SF
Area
Henderson County, NC
Vacancy
2.80%
Lease Rate
$24.00 /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%
$1,979,140
Cap Rate 7%
$1,413,671
Cap Rate 9%
$1,099,522
Alternative Uses
Best Use
Office B
$1.41M
$1.24M – $1.65M
NOI $98,957 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,943 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Central Business District zoning, frontage along N Main St, and on-site parking distinguish this commercial property.
Where is this office building located?
The property is located at 337 N Main Street Hendersonville, NC.
What is the asking price?
The asking price for this property is $1,371,000.
What are key features of this property?
This property features: 5,656‑square‑foot office building built in 1900; Renovated in 2008; new roof; Frontage along N Main St in Hendersonville
