Flex Building with Shop
For Sale
Under Contract
$495,000
535 Old Rosman Highway, Brevard, NC 28712
SINGLE_FAMILY - Brevard, NC
Property Size2,800 SF
Lot Size1.44 Acres
Price / SF$176.79
Days on Market145
Property Features for 535 Old Rosman Highway
General Information
Property type
Residential
Property subtype
Office
Parking features
Driveway
Directions
From downtown Brevard, head onto US-64 W for about six miles. Turn left onto Old Rosman Hwy. 535 Old Rosman Hwy will be on the left in about half of a mile. See sign. Brevard, NC 28712
Standard status
Active Under Contract
APN
8563-16-8175-000
Lot size
1.44 Acres
Taxes and HOA fees
Tax Description
OFF HWY 64 .
Legal Description
OFF HWY 64 .
Amenities
shop area
bathroom with shower
gated back lot
reception area
kitchen
two bathrooms
loft storage
Building Details
Year built
2003
Listing Agency:
Tinsley's Land and Home Inc.
(828) 553-5146
Listed By:
John Tinsley · License #276290
(828) 553-5146
Added: Mar 29
Changed: Aug 15
Last Checked: Aug 20 at 5:06PM
MLS# 4362907
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2003, this 2,800 sq ft flex building occupies 1.44 acres and combines workspace with office functions. The shop area includes a bathroom and shower, while the office section provides a reception area, kitchen, two additional bathrooms, and loft storage. Driveway parking serves the property, and a gated rear lot accommodates equipment, vehicles, or storage needs.
The property is located at 535 Old Rosman Highway in Brevard, just off Highway 64 in Transylvania County. Its combination of shop, office, and outdoor storage areas creates a functional commercial layout for operations requiring both work space and administrative areas.
The property is located at 535 Old Rosman Highway in Brevard, just off Highway 64 in Transylvania County. Its combination of shop, office, and outdoor storage areas creates a functional commercial layout for operations requiring both work space and administrative areas.
Key Highlights
- 2,800 sq ft flex building on 1.44 acres
- Built in 2003
- Large shop area with bathroom and shower
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
$43,294
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
8.75%
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%
$865,880
$865.9K
Cap Rate 7%
$618,486
$618.5K
Cap Rate 9%
$481,044
$481.0K
Market Conditions
NOI Build-Up for 2,800 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
$67.2K $24.00/SF
− Vacancy
−$9.5K −$3.38/SF
EGI
$57.7K $20.62/SF
− OpEx
−$14.4K −$5.15/SF
NOI
$43.3K $15.46/SF
Area
Transylvania County, NC
Vacancy
14.10%
Lease Rate
$24.00 /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%
$865,880
Cap Rate 7%
$618,486
Cap Rate 9%
$481,044
Alternative Uses
Best Use
Office B
$618.5K
$541.2K – $721.6K
NOI $43,294 @ 7.0% cap · market cap 8.75%
Second Best
Flex RnD
$486.7K
$425.9K – $567.8K
NOI $34,070 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$824.6K
$721.6K – $962.1K
NOI $57,725 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
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.
Frequently Asked Questions
What type of property is this?
Flex space - The layout combines a shop area with reception, kitchen, bathrooms, and loft storage.
Where is this flex space located?
The property is located at 535 Old Rosman Highway Brevard, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,800 sq ft flex building on 1.44 acres; Built in 2003; Large shop area with bathroom and shower
