Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    400 Spring Forest Rd Greenville, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Medical office space in a major medical district.

    Type:OFFICE
    Property size:
    10,146 SF
    Lot size:
    2.25 Acres
    Added:
    Aug 17, 2024
    Days on Market:
    617
    Last Refresh:
    Apr 5 at 8:11 pm

    Property Features for 400 Spring Forest Rd

    General Information

    Standard status
    Active
    Size
    10,146 SF
    Lot size
    2.25 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 400 Spring Forest Rd Contact us

    We can help!

    Listing Contact
    John VanCoutren

    Listing agent John VanCoutren

    Listing office The Overton Group

    Listing date Aug 17, 2024

    Source Moodyscre

    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 The Overton Group

    Overview

    Medical Office Space For Rent

    Located at 400 Spring Forest Rd, this property is strategically positioned within a major medical district, benefiting from a strong medical office synergy. The location is situated between ECU Health Medical Center and Physicians East, offering high visibility and easy accessibility. The facility includes an AAAASF-accredited operating room suite. The property has a size of 10146 square feet. Landlord capital improvements are planned, including converting all light fixtures to LED, sealing and restriping the parking lot, and fresh landscape work. The owner is willing to provide a tenant improvement allowance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Richard P. ... Physician J. Lynne Garrison, ... Physician Greenville Plastic Surgery Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Vet Center — Greenville, NC 27834

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.418
    Latitude
    35.6003

    Nearby Similar for Lease

    • $1,500/Mo

      Office Space in Medical District

      Office space for lease in Greenville's Medical District.
      835 Johns Hopkins Drive, Greenville, NC 27834
      View Details
    • $500/Mo

      Move-in Ready Greenville Office Spaces

      Individual office spaces available for lease with all-inclusive amenities.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $2,800/Mo

      Move-in Ready Office Space Available

      Office space for lease with all-inclusive amenities in Greenville.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $2,850/Mo

      Move-in Ready Office Space Available

      Well-maintained commercial property with flexible office options in Greenville, NC.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $2,850/Mo

      Move-in Ready Office Space Available

      Office space for lease in Greenville, NC with all-inclusive amenities.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $2,900/Mo

      Move-in Ready Office Space Available

      Well-maintained office complex with flexible options and all-inclusive amenities.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $2,900/Mo

      Move-in Ready Office Space Available

      Well-maintained office complex with flexible leasing options and all-inclusive amenities.
      404 St Andrews Drive, Greenville, NC 27834
      View Details
    • $1,875/Mo

      Commercial Space For Rent

      Commercial space available for rent in Greenville, North Carolina.
      1909 E Fire Tower Road, Greenville, NC 27858
      View Details
    • $1,500/Mo

      Functional Office Space in Greenville

      900 SF office suite with reception and private offices.
      3105 S Evans St, Greenville, NC
      View Details
    • $1,200/Mo

      Retail Space in Established Area

      Retail space available in established Greenville neighborhood.
      100 E Victoria Ct, Greenville, NC
      View Details
    • $8 SF/Yr

      Functional Warehouse Near Downtown Greenville

      5,600 SF warehouse near downtown, ECU, and ECU Health.
      204 W 10th St, Greenville, NC
      View Details
    • $17 SF/Yr

      Retail Space Near East Carolina

      Commercial space near East Carolina University and downtown Greenville.
      211 S Jarvis St, Greenville, NC
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office space in a major medical district.
    Where is this medical office space located?
    The property is located at 400 Spring Forest Rd Greenville, NC.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Strategically located in a major medical district between ECU Health Medical Center and Physicians East.; Includes an AAAASF‑accredited operating room suite.; High visibility and easy accessibility for patients and staff.
    (252) 702-0680 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John VanCoutren
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!