Class A Medical Office
For Sale
$1,875,000
Pending
4 Vanderbilt Park Drive, Asheville, NC 28803
Medical and dental office suite with reception area, five exam/treatment rooms, imaging, lab and recovery space.
Property Size2,013 SF
Days on Market57
Property Features for 4 Vanderbilt Park Drive
General Information
Standard status
Pending
Size
2,013 SF
Class
A
Property subtype
Medical
Additional Details
Highway Access
Yes
Amenities
Size: 0, Size Units: Acres
Days on Market: 54, Listing Price: 1875000, Status: Under Contract-Show
Year Built: 2013, Construction Type: Site Built
City: Asheville, State: NC, Zip: 28803, County: Buncombe
Auction Y/N: 0
Building Details
Building Size
2,013 SF
Year Built
2013
Listing Agency:
Whitney Commercial Real Estate
(828) 665-9085
Listed By:
Austin Walker
(828) 713-0777
Source:
Blackstreaminternational
Added: Jul 23
Changed: Sep 17
Last Checked: Sep 16 at 6:46PM
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.
This Class A medical/dental office suite includes a reception and waiting area with natural lighting throughout. The interior configuration features five exam/treatment rooms, two private offices, two bathrooms, and a breakroom, along with an imaging room and other functional areas including lab and recovery. The space is described as immaculately constructed and thoughtfully designed.
The suite is located at 4 Vanderbilt Park Drive in Asheville, convenient to US 25 and I-40. The property provides abundant shared parking for patient and staff access.
The offering is presented as a modern medical office environment within the original Biltmore School Building and is available for sale and/or lease.
The suite is located at 4 Vanderbilt Park Drive in Asheville, convenient to US 25 and I-40. The property provides abundant shared parking for patient and staff access.
The offering is presented as a modern medical office environment within the original Biltmore School Building and is available for sale and/or lease.
Key Highlights
- 3,610 SF Class A medical/dental office suite at 4 Vanderbilt Dr., Ste. 210 (Asheville, NC)
- Reception/waiting area plus 5 exam/treatment rooms
- Includes imaging room, lab and recovery space
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
$66,977
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
3.57%
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%
$1,339,540
$1.3M
Cap Rate 7%
$956,814
$956.8K
Cap Rate 9%
$744,189
$744.2K
Market Conditions
NOI Build-Up for 3,610 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
$91.4K $25.32/SF
− Vacancy
−$2.1K −$0.58/SF
EGI
$89.3K $24.74/SF
− OpEx
−$22.3K −$6.18/SF
NOI
$67.0K $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%
$1,339,540
Cap Rate 7%
$956,814
Cap Rate 9%
$744,189
Alternative Uses
Best Use
Office B
$956.8K
$837.2K – $1.12M
NOI $66,977 @ 7.0% cap · market cap 3.57%
Second Best
Healthcare Medical
$856.1K
$749.1K – $998.8K
NOI $59,930 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.14M
$998.8K – $1.33M
NOI $79,907 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Under-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
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and dental office suite with reception area, five exam/treatment rooms, imaging, lab and recovery space.
Where is this medical office space located?
The property is located at 4 Vanderbilt Park Drive Asheville, NC.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 3,610 SF Class A medical/dental office suite at 4 Vanderbilt Dr., Ste. 210 (Asheville, NC); Reception/waiting area plus 5 exam/treatment rooms; Includes imaging room, lab and recovery space
