Medical Office Condo with Procedure
For Sale
$950,000
403 Gilead Road, Huntersville, NC 28078
Medical office condominium with reception, exam rooms, private offices, and a dedicated surgical procedure suite.
Property Size3,000 SF
Price / SF$316.67
Days on Market444
Property Features for 403 Gilead Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
RE/MAX Executive
(704) 815-3200
Listed By:
Michael Morgan · License #219912
Source:
Techrealtyllc
Added: Jun 1, 2025
Changed: Aug 16
Last Checked: Aug 17 at 10:28PM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
This medical office condominium combines two adjoining suites with a practical clinical layout. Suite B includes a reception lobby, multiple private offices, exam rooms with sinks and supply cabinetry, two restrooms, a laundry room, storage, and a kitchen with staff break area. Suite C is configured as a surgical and procedure room, providing an additional specialized component within the offering.
The property contains approximately 3,000 square feet and was built in 2005. Located at 403 Gilead Road in Huntersville, the office is minutes from Novant Health Huntersville Medical Center. The adjoining-suite configuration supports healthcare operations requiring patient-facing space, treatment rooms, administrative offices, and procedure capabilities in one location.
The property contains approximately 3,000 square feet and was built in 2005. Located at 403 Gilead Road in Huntersville, the office is minutes from Novant Health Huntersville Medical Center. The adjoining-suite configuration supports healthcare operations requiring patient-facing space, treatment rooms, administrative offices, and procedure capabilities in one location.
Key Highlights
- Approximately 3,000 SF medical office condominium comprising Suites B and C
- Suite B includes reception lobby, private offices, exam rooms, two restrooms, laundry, storage, and staff break area
- Exam rooms feature supply cabinets and sinks
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
$52,614
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
5.54%
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%
$1,052,280
$1.1M
Cap Rate 7%
$751,629
$751.6K
Cap Rate 9%
$584,600
$584.6K
Market Conditions
NOI Build-Up for 3,000 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
$78.1K $26.04/SF
− Vacancy
−$8.0K −$2.66/SF
EGI
$70.2K $23.38/SF
− OpEx
−$17.5K −$5.85/SF
NOI
$52.6K $17.54/SF
Area
Mecklenburg County, NC
Vacancy
10.20%
Lease Rate
$26.04 /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%
$1,052,280
Cap Rate 7%
$751,629
Cap Rate 9%
$584,600
Alternative Uses
Best Use
Office B
$751.6K
$657.7K – $876.9K
NOI $52,614 @ 7.0% cap · market cap 5.54%
Second Best
Healthcare Medical
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$969.4K
$848.2K – $1.13M
NOI $67,857 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28078, NC
67,863
Population
27,659
Households
2.5
Avg Household Size
37
Median Age
56%
College-Educated
97%
High-School Grad
63.7 sq mi
ZIP Area
1,065
Density / Sq Mi
$120,503
Median Household Income
$67,055
Median Earnings
$1,722
Median Rent
$441,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condominium with reception, exam rooms, private offices, and a dedicated surgical procedure suite.
Where is this medical office space located?
The property is located at 403 Gilead Road Huntersville, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 3,000 SF medical office condominium comprising Suites B and C; Suite B includes reception lobby, private offices, exam rooms, two restrooms, laundry, storage, and staff break area; Exam rooms feature supply cabinets and sinks
