Medical Office Space with NNN
For Sale
$900,000
4000 Swaim Street, Jonesville, NC 28642
Clinical improvements are in place under a five-year NNN lease with annual increases.
Property Size5,684 SF
Days on Market138
Property Features for 4000 Swaim Street
General Information
Standard status
Active
Size
5,684 SF
Property subtype
Office - Medical Office
Building Details
Building Size
5,684 SF
Year Built
1980
Year Renovated
1980
Tenancy
Single
Listing Agency:
Linville Team Partners
Listed By:
Ben Bloodworth · License #263200
Source:
Commercialcafe
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 3:46PM
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 Linville Team Partners
Investment Insights
Based on property information with market context.
This medical office property in Jonesville, North Carolina, is occupied by Atrium Health Family Medicine. The facility contains an established clinical build-out suited to its current medical office use and was constructed in 1980.
A five-year NNN lease is in place, with 3% annual increases. The lease structure also includes limited landlord responsibilities, providing a defined framework for ongoing ownership obligations.
A five-year NNN lease is in place, with 3% annual increases. The lease structure also includes limited landlord responsibilities, providing a defined framework for ongoing ownership obligations.
Key Highlights
- Atrium Health Family Medicine occupies the property
- Five‑year NNN lease in place
- 3% annual lease increases
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
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
NOI $4,733,190 @ 7.0% cap · market cap 525.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical improvements are in place under a five-year NNN lease with annual increases.
Where is this medical office space located?
The property is located at 4000 Swaim Street 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: Atrium Health Family Medicine occupies the property; Five‑year NNN lease in place; 3% annual lease increases
