Building Details

Year Built 1980

Buildings 1

Stories 1

Tenancy Single

Owner Occupied No

Listing Agency: Linville Team Partners

Listed By: Ben Bloodworth · License #NC 263200

Source: Crexi

Added: Apr 14 Changed: Aug 30 Last Checked: Aug 30 at 10:48AM

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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 Linville Team Partners

Investment Insights

Based on property information with market context.

The property is a 5,684-square-foot medical office facility built in 1980 and configured as fully built-out clinical space for Atrium Health Family Medicine. The existing improvements are suited to continued medical office use without the need for a basic shell buildout.

Located at 4000 Swaim St in Jonesville, NC, the asset is subject to a new 5-year NNN lease with 3% annual increases. The lease structure assigns only minor landlord responsibilities, providing a defined operating framework for ownership.

Key Highlights

• 5,684‑square‑foot medical office property
• Fully built‑out clinical space for Atrium Health Family Medicine
• New 5‑year NNN lease in place

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

$61,224

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

6.80%

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%

$1,224,480 $1.2M

Cap Rate 7%

$874,629 $874.6K

Cap Rate 9%

$680,267 $680.3K

Market Conditions

NOI Build-Up for 5,684 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

$116.0K $20.40/SF

− Vacancy

−$13.9K −$2.45/SF

EGI

$102.0K $17.95/SF

− OpEx

−$40.8K −$7.18/SF

NOI

$61.2K $10.77/SF

Area

Yadkin County, NC

Vacancy

12.00%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

40.00%

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%

$1,224,480

Cap Rate 7%

$874,629

Cap Rate 9%

$680,267

Alternative Uses

Best Use

Healthcare Medical

$874.6K

$765.3K – $1.02M (±1% cap)

NOI $61,224 @ 7.0% cap · market cap 6.80%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$67.62M

$59.16M – $78.89M (±1% cap)

NOI $4,733,190 @ 7.0% cap · market cap 525.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Will Evan Ballard, ... Physician Thomas Shelburne, MD Physician Mary Louise Keller, ... Physician James Edward Hubbs, ... Physician Atrium Health Wake ... Medical Clinic

Suggested Use

Top Pick Building Supply Restaurant Dental Office Big Box & Wholesale Store Law Firm Auto Parts Store

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

Location Intelligence

Trade Area within ½ mile

77

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 28642, NC

5,336

Population

2,653

Households

2

Avg Household Size

44

Median Age

13%

College-Educated

85%

High-School Grad

32.3 sq mi

ZIP Area

165

Density / Sq Mi

$45,781

Median Household Income

$37,629

Median Earnings

$565

Median Rent

$131,600

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 medical office space 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?

Medical Office Space - Established clinical improvements support a new NNN lease with scheduled annual increases.

Where is this medical office space located?

The property is located at 4000 Swaim St Jonesville, NC.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: 5,684‑square‑foot medical office property; Fully built‑out clinical space for Atrium Health Family Medicine; New 5‑year NNN lease in place