Free-Standing Two-Story Office
421 South Church Street Hendersonville, NC 28792
421 South Church Street, Hendersonville, NC, 28792
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For Sale
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Free-standing, two-story office building with passenger elevator and ADA-compliant access, 100% occupied by long-term tenants.
Property Size8,350 SF
Price / SF$262.87
Days on Market17
Property Features for 421 South Church Street
General Information
- Standard status
- Active
- Size
- 8,350 SF
- Property subtype
- Office
Building Details
- Year Built
- 2005
Listing agency
Jones Commercial Properties
(828) 697-7733
Listed by
Gary Jones · License #NC, SC, GA, TX, TN, HI
Source
Crexi
Added: Jul 6 Updated: Jul 22 at 7:25AM Checked: Jul 22 at 7:25AM
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 Jones Commercial Properties
Investment Insights
Based on property information with market context.
This free-standing, two-story office building totals 7,788 SF and is fully occupied. The property is anchored by Wells Fargo Advisors and PragerMetis CPAs, both long-term tenants with histories of multiple lease renewals. The building includes a dramatic two-story entrance foyer and a passenger elevator, along with ADA-compliant access and ample front and rear parking.
The current leases are structured as full-service gross arrangements with contractual 3% annual rent escalations through 2029.
Jones Commercial Properties is offering the asset for $2,195,000. The offering reflects a 6.21% cap rate on $136,367 of 2025 NOI, and the lease structure provides built-in income growth through the escalation schedule.
The current leases are structured as full-service gross arrangements with contractual 3% annual rent escalations through 2029.
Jones Commercial Properties is offering the asset for $2,195,000. The offering reflects a 6.21% cap rate on $136,367 of 2025 NOI, and the lease structure provides built-in income growth through the escalation schedule.
Key Highlights
- 100% occupied Class A, free‑standing two‑story office building (7,788 SF) in downtown Hendersonville, NC
- Long‑term tenants Wells Fargo Advisors and PragerMetis CPAs with multiple lease renewals
- Full‑service gross leases with contractual 3% annual rent escalations through 2029
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.4k | $24.00 |
| − Vacancy | −$5.6k | −$0.67 |
| EGI | $194.8k | $23.33 |
| − OpEx | −$48.7k | −$5.83 |
| NOI | $146.1k | $17.50 |
8,350 SF · lease $24.00/SF/yr · vacancy 2.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.43M
NOI $146,092 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,789 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Edward Jones - Financial ...
Financial Advisor
Wells Fargo Advisors
Financial Advisor
Goldsmith Molis & Gray, ...
Accounting Firm
Gablermous & Co Pa
Tax Preparation
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FAQs
What type of property is this?
Office building - Free-standing, two-story office building with passenger elevator and ADA-compliant access, 100% occupied by long-term tenants.
Where is this office building located?
The property is located at 421 South Church Street Hendersonville, NC.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 100% occupied Class A, free‑standing two‑story office building (7,788 SF) in downtown Hendersonville, NC; Long‑term tenants Wells Fargo Advisors and PragerMetis CPAs with multiple lease renewals; Full‑service gross leases with contractual 3% annual rent escalations through 2029
