Medical Office and Office
For Sale
$285,000
517 N 2nd Avenue, Siler City, NC 27344
Modular medical office plus a separate mobile home office on a corner lot with strong road frontage and parking.
Property Size1,775 SF
Price / SF$160.56
Days on Market199
Property Features for 517 N 2nd Avenue
General Information
Standard status
Active
Size
1,775 SF
Total Parking Spaces
15
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,294
Building Details
Building Size
1,775 SF
Year Built
1998
Stories
2
Listing Agency:
Harris Realty & Auction
Listed By:
Scott Harris · License #159569
(919) 498-4077
Source:
Dustinbennett
Added: Mar 23
Changed: Oct 2
Last Checked: Oct 5 at 11:01PM
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 Harris Realty & Auction
Investment Insights
Based on property information with market context.
The property includes a primary 1,775 sq ft modular office building configured for professional and medical use. The main level features a reception area, multiple office spaces, and a half bath. The upper level provides an additional office, a full bathroom with shower, and a large bonus area that can support office, meeting, or storage needs. A secondary 1,456 sq ft mobile home on the site has been converted into office space and is currently producing rental income.
Located at 517 N 2nd Ave in Siler City, this corner-lot site offers strong road frontage and convenient access for visitors and clients. The property includes approximately 15 parking spaces, supporting day-to-day operations and customer parking.
For a tenant, buyer, or owner-operator, the layout supports a variety of professional uses, including medical, office, and service-oriented operations, with the bonus area offering flexibility for additional workspace or storage. The presence of two separate office-configured structures creates options for combining operations, maintaining space for multiple functions, or pursuing an owner-user arrangement alongside rental income from the secondary unit.
Located at 517 N 2nd Ave in Siler City, this corner-lot site offers strong road frontage and convenient access for visitors and clients. The property includes approximately 15 parking spaces, supporting day-to-day operations and customer parking.
For a tenant, buyer, or owner-operator, the layout supports a variety of professional uses, including medical, office, and service-oriented operations, with the bonus area offering flexibility for additional workspace or storage. The presence of two separate office-configured structures creates options for combining operations, maintaining space for multiple functions, or pursuing an owner-user arrangement alongside rental income from the secondary unit.
Key Highlights
- Main building: 1,775 sq ft modular structure designed for a chiropractic office
- Main level includes reception, multiple office spaces, and a half bath
- Upper level features an additional office, full bath with shower, and a large bonus area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,423
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,460
$488.5K
Cap Rate 7%
$348,900
$348.9K
Cap Rate 9%
$271,367
$271.4K
Market Conditions
NOI Build-Up for 1,775 SF
Gross rent
$44.7K $25.20/SF
− Vacancy
−$4.0K −$2.27/SF
EGI
$40.7K $22.93/SF
− OpEx
−$16.3K −$9.17/SF
NOI
$24.4K $13.76/SF
Area
Chatham County, NC
Vacancy
9.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,460
Cap Rate 7%
$348,900
Cap Rate 9%
$271,367
Alternative Uses
Best Use
Office B
$391.6K
$342.7K – $456.9K
NOI $27,413 @ 7.0% cap · market cap 9.62%
Second Best
Healthcare Medical
$348.9K
$305.3K – $407.1K
NOI $24,423 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$573.2K
$501.5K – $668.7K
NOI $40,122 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27344, NC
17,834
Population
8,086
Households
2.2
Avg Household Size
40
Median Age
22%
College-Educated
76%
High-School Grad
166.3 sq mi
ZIP Area
107
Density / Sq Mi
$62,493
Median Household Income
$32,823
Median Earnings
$1,072
Median Rent
$176,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
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- Tysor Veterinary Clinic — 1401 N 2nd Ave, Siler City, NC 27344
Frequently Asked Questions
What type of property is this?
Medical Office Space - Modular medical office plus a separate mobile home office on a corner lot with strong road frontage and parking.
Where is this medical office space located?
The property is located at 517 N 2nd Avenue Siler City, NC.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Main building: 1,775 sq ft modular structure designed for a chiropractic office; Main level includes reception, multiple office spaces, and a half bath; Upper level features an additional office, full bath with shower, and a large bonus area
