Building Details

Year built 1888

Floors in Building 2

Flooring type Tile, Wood

Roof type Metal

Listing Agency: Keller Williams Professionals · Keller Williams Realty e***@kw.com Show Phone

Listed By: Jake Mossman · License #325658 Show Phone

Added: Mar 31 Changed: Sep 14 Last Checked: Oct 3 at 11:06AM

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MLS# 4360266

Copyright © 2026 Canopy 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 building contains 2,700 rentable square feet arranged with 8 offices and 2 bathrooms. The property includes wood and tile flooring, a porch, an accessible approach with ramp, a metal roof, and HVAC systems replaced within the last few years. A 13-car parking lot serves the building, while maintained landscaping and a well-kept exterior support its presentation. The property is subject to an NNN lease structure.

Located at the corner of Northcrest Road and Monticello Road, the site has exposure to a reported 8,000 cpd traffic flow. Walmart and Lowe’s are nearby, and AdventHealth’s planned 67-bed hospital has been cleared for construction within minutes of the property. The 0.42-acre parcel is zoned I-1 and connected to public sewer.

Key Highlights

• 2,700 rentable square feet with 8 offices and 2 bathrooms
• NNN lease structure with built‑in rental escalations
• Corner position at Northcrest Road and Monticello Road

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

$50,094

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

5.57%

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%

$1,001,880 $1.0M

Cap Rate 7%

$715,629 $715.6K

Cap Rate 9%

$556,600 $556.6K

Market Conditions

NOI Build-Up for 2,700 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

$68.4K $25.32/SF

− Vacancy

−$1.6K −$0.58/SF

EGI

$66.8K $24.74/SF

− OpEx

−$16.7K −$6.18/SF

NOI

$50.1K $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%

$1,001,880

Cap Rate 7%

$715,629

Cap Rate 9%

$556,600

Alternative Uses

Best Use

Office B

$715.6K

$626.2K – $834.9K (±1% cap)

NOI $50,094 @ 7.0% cap · market cap 5.57%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$853.8K

$747.1K – $996.1K (±1% cap)

NOI $59,764 @ 7.0% cap · market cap 6.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Building Supply Law Firm HVAC Service Auto Parts Store Storage Facility Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

203

Businesses Nearby

Explore this area Business Placement

Demographics for 28787, NC

21,948

Population

10,863

Households

2

Avg Household Size

47

Median Age

44%

College-Educated

93%

High-School Grad

79.5 sq mi

ZIP Area

276

Density / Sq Mi

$75,051

Median Household Income

$39,724

Median Earnings

$1,198

Median Rent

$379,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - I-1-zoned office property with multiple private offices, updated building systems, and convenient paved parking.

Where is this office building located?

The property is located at 4 Northcrest Drive Weaverville, NC.

What is the asking price?

The asking price for this property is $899,900.

What are key features of this property?

This property features: 2,700 rentable square feet with 8 offices and 2 bathrooms; NNN lease structure with built‑in rental escalations; Corner position at Northcrest Road and Monticello Road