Weaverville Commercial Property For
For Sale
$899,900
Pending
4 Northcrest Drive, Weaverville, NC 28787
Commercial property in Weaverville's expanding commercial and medical corridor.
Property Size2,710 SF
Days on Market153
Property Features for 4 Northcrest Drive
General Information
Standard status
Pending
Size
2,710 SF
Property subtype
Commercial
Amenities
Corner Lot
Metal Roof
Level
Parking Lot
Ramp(s)-Main Level
Tile Flooring
Wood Flooring
Building Details
Year Built
1888
Listing Agency:
KELLER WILLIAMS PROFESSIONALS
(828) 658-1900
Listed By:
JAKE MOSSMAN · License #325658
Source:
Corcoran
Added: Mar 31
Changed: Aug 8
Last Checked: Jul 23 at 9:40AM
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 KELLER WILLIAMS PROFESSIONALS
Investment Insights
Based on property information with market context.
Located at the corner of Northcrest Road and Monticello Road on a lot with 8,000 cars per day, 4 Northcrest Drive is situated in Weaverville's rapidly expanding commercial and medical corridor. The property is near Walmart and Lowe's. A 67-bed AdventHealth hospital is under construction minutes away. The building offers 2700 rentable square feet, 8 offices, and 2 bathrooms. It also features a 13-car parking lot, a new metal roof, and HVAC systems replaced within the last few years. The exterior is well-maintained with landscaping. The property provides a stabilized, passive NNN income stream with rental escalations. The Net Operating Income (NOI) is currently $56,700 and will increase to $58,600 in November. The lease rate is currently $21 per square foot, and TICAMs are $3 per square foot.
Key Highlights
- Prime location in Weaverville's rapidly expanding commercial and medical corridor, near Walmart and Lowe's.
- Significant healthcare‑driven growth opportunity due to proximity to AdventHealth's new 67‑bed hospital.
- Stabilized, passive NNN income stream with a strong tenant.
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
$50,279
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
5.59%
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%
$1,005,580
$1.0M
Cap Rate 7%
$718,271
$718.3K
Cap Rate 9%
$558,656
$558.7K
Market Conditions
NOI Build-Up for 2,710 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
$68.6K $25.32/SF
− Vacancy
−$1.6K −$0.58/SF
EGI
$67.0K $24.74/SF
− OpEx
−$16.8K −$6.18/SF
NOI
$50.3K $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%
$1,005,580
Cap Rate 7%
$718,271
Cap Rate 9%
$558,656
Alternative Uses
Best Use
Office B
$718.3K
$628.5K – $838.0K
NOI $50,279 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$856.9K
$749.8K – $999.8K
NOI $59,986 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Commercial property in Weaverville's expanding commercial and medical corridor.
Where is this nnn property 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: Prime location in Weaverville's rapidly expanding commercial and medical corridor, near Walmart and Lowe's.; Significant healthcare‑driven growth opportunity due to proximity to AdventHealth's new 67‑bed hospital.; Stabilized, passive NNN income stream with a strong tenant.
