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    Professional Office Building in Forest City Title is generated by Realmo AI

    492 W Main Street, Forest City, NC 28043

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    Claim this Listing
    For Sale
    $505,000

    Single-story brick building ideal for medical or dental use.

    Type:Commercial
    Property size:
    2,119 SF
    Price / SF:
    $238/SF
    Added:
    Sep 5, 2025
    Days on Market:
    277
    Last Refresh:
    May 10 at 10:11 pm

    Property Features for 492 W Main Street

    General Information

    Standard status
    Active
    Size
    2,119 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    BARBARA DENNES

    Listing agent BARBARA DENNES

    Listing office MILEMMA REALTY

    Listing date Sep 5, 2025

    Source Corcoran

    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 MILEMMA REALTY

    HighLights

    • Turn‑key professional office building, formerly an orthodontic practice, ideal for dental, orthodontic, or healthcare use.
    • Prime location on W. Main St. in the West Main Historic District, offering high visibility and accessibility.
    • Functional layout with multiple exam/treatment rooms with dental chairs, reception, waiting area, private offices, and support space.
    • Ample parking with 15 spaces.
    • Two floors: first floor (2,119 sq. ft) for patients and treatment; basement (1,894 sq. ft) for staff and lab.
    • Single‑story brick building built in 1950.

    Overview

    This single-story brick building, formerly an orthodontic practice, is located in the heart of Forest City. The property offers a layout suitable for medical or dental use, featuring multiple exam/treatment rooms with dental chairs, a reception and waiting area, private offices, and support space. The first floor, comprising 2,119 square feet, was previously used for patient care and treatment rooms. The 1,894-square-foot basement was utilized for staff and laboratory purposes. Situated on W. Main St. within the West Main Historic District, the property offers visibility and accessibility. It includes 15 parking spaces. This building is designed for a turn-key dental, orthodontic, or healthcare practice.

    Local Financial Insights For Healthcare Medical

    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 $47.0k $22.20
    − Vacancy −$4.9k −$2.33
    EGI $42.1k $19.87
    − OpEx −$16.8k −$7.95
    NOI $25.3k $11.92
    2,119 SF · lease $22.20/SF/yr · vacancy 10.50% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $360.9K
    $315.8K – $421.0K (±1% cap)
    NOI $25,261 @ 7.0% cap · market cap 5.00%
    Second Best
    Office B
    $316.3K
    $276.8K – $369.0K (±1% cap)
    NOI $22,141 @ 7.0% cap · market cap 4.38%
    Theoretical Best
    Office A
    $467.3K
    $408.9K – $545.2K (±1% cap)
    NOI $32,711 @ 7.0% cap · market cap 6.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Similar Places Nearby

    • Tri-City Animal Clinic — 475 Withrow Rd, Forest City, NC 28043
    • Tri-City Animal Care — 475 Withrow Rd, Forest City, NC 28043
    • Bradshaw Glenn C DVM — 475 Withrow Rd, Forest City, NC 28043

    Location Insight

    • Map
    • Local Demand
    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8758817
    Latitude
    35.3398562

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    FAQs

    What type of property is this?
    Medical Office Space - Single-story brick building ideal for medical or dental use.
    Where is this medical office space located?
    The property is located at 492 W Main Street Forest City, NC.
    What is the asking price?
    The asking price for this property is $505,000.
    What are key features of this property?
    This property features: Turn‑key professional office building, formerly an orthodontic practice, ideal for dental, orthodontic, or healthcare use.; Prime location on W. Main St. in the West Main Historic District, offering high visibility and accessibility.; Functional layout with multiple exam/treatment rooms with dental chairs, reception, waiting area, private offices, and support space.
    (704) 800-0008
    We can help!
    Listing Contact
    BARBARA DENNES
    Request Owner's contact information
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    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.

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