Renovated Office Space For
5 Doctors Park, Asheville, NC 28801
For Sale
Contact for pricing
Renovated office with private offices, conference room, and kitchenette.
Property Size1,482 SF
Price / SF$249.66
Days on Market916
Property Features for 5 Doctors Park
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Year Built
Listing Agency:
Ellington Realty Group
Listed By:
A. Ryan Israel, CCIM · License NC #268452
(828) 606-5674
Source:
Crexi
Added: May 9, 2024
Changed: Nov 1
Last Checked: Nov 10 at 5:58AM
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 Ellington Realty Group
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Investment Insights
Based on property information with market context.
This renovated office space is located in Doctors Park and features nicely appointed finishes. The 1482 square-foot office includes three private offices, a conference room, and a kitchenette. The floor plan is available for review. This property is suitable for commercial real estate purposes.
Key Highlights
- Renovated office space ready for immediate occupancy.
- Located in Doctors Park, offering a professional and convenient setting.
- 3 Private Offices provide dedicated workspace.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,496
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,920
$549.9K
Cap Rate 7%
$392,800
$392.8K
Cap Rate 9%
$305,511
$305.5K
Market Conditions
NOI Build-Up for 1,482 SF
Gross rent
$37.5K $25.32/SF
− Vacancy
−$863 −$0.58/SF
EGI
$36.7K $24.74/SF
− OpEx
−$9.2K −$6.18/SF
NOI
$27.5K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,920
Cap Rate 7%
$392,800
Cap Rate 9%
$305,511
Alternative Uses
Best Use
Office B
$392.8K
$343.7K – $458.3K
NOI $27,496 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,188
Businesses Nearby
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Business Placement
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Asheville, NC
Properties on Market for Office Units in Asheville
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Renovated office with private offices, conference room, and kitchenette.
Where is this office unit located?
The property is located at 5 Doctors Park Asheville, NC.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Renovated office space ready for immediate occupancy.; Located in Doctors Park, offering a professional and convenient setting.; 3 Private Offices provide dedicated workspace.
