Leased Storefront
New
For Sale
$325,000
5858 Old Hendersonville Hwy, Pisgah Forest, NC 28768
An operating post office occupies the property under a lease extending through May 21, 2030.
Property Size840 SF
Price / SF$386.90
Days on Market2
Property Features for 5858 Old Hendersonville Hwy
General Information
Standard status
Active
Size
840 SF
Building Details
Year Built
1975
Listing Agency:
Looking Glass Realty
Listed By:
Jeff Baucom
(828) 883-4663
Source:
Lewisandkirk
Added: Sep 14
Last Checked: Sep 14 at 2:20PM
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 Looking Glass Realty
Investment Insights
Based on property information with market context.
This storefront property is currently occupied by the Penrose Post Office under a lease running through May 21, 2030. The building was constructed in 1975 and includes several recent capital improvements: the HVAC system was replaced 2 months ago, a metal roof was installed 18 months ago, and commercial-grade vinyl plank flooring was added 3 years ago.
The property is located at 5858 Old Hendersonville Hwy in Pisgah Forest, North Carolina, approximately 0.15 miles from the Ecusta Trail. Its existing post office use and nearby trail access provide clear context for evaluating the property’s current occupancy and future commercial utility.
The property is located at 5858 Old Hendersonville Hwy in Pisgah Forest, North Carolina, approximately 0.15 miles from the Ecusta Trail. Its existing post office use and nearby trail access provide clear context for evaluating the property’s current occupancy and future commercial utility.
Key Highlights
- Lease in place through May 21, 2030
- Current Penrose Post Office operation
- Approximately 0.15 miles from the Ecusta Trail
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
$10,309
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
3.17%
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%
$206,180
$206.2K
Cap Rate 7%
$147,271
$147.3K
Cap Rate 9%
$114,544
$114.5K
Market Conditions
NOI Build-Up for 840 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
$15.1K $18.00/SF
− Vacancy
−$393 −$0.47/SF
EGI
$14.7K $17.53/SF
− OpEx
−$4.4K −$5.26/SF
NOI
$10.3K $12.27/SF
Area
Transylvania County, NC
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$206,180
Cap Rate 7%
$147,271
Cap Rate 9%
$114,544
Alternative Uses
Best Use
Retail
$147.3K
$128.9K – $171.8K
NOI $10,309 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.4K
$216.5K – $288.6K
NOI $17,317 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
10,732 visits/mo
0.4 miles
Dollar General
Shops & Services
5,977 visits/mo
0.2 miles
Demographics for 28768, NC
6,820
Population
3,542
Households
1.9
Avg Household Size
50
Median Age
40%
College-Educated
96%
High-School Grad
83.1 sq mi
ZIP Area
82
Density / Sq Mi
$72,567
Median Household Income
$35,442
Median Earnings
$819
Median Rent
$299,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail 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?
Storefront property - An operating post office occupies the property under a lease extending through May 21, 2030.
Where is this storefront property located?
The property is located at 5858 Old Hendersonville Hwy Pisgah Forest, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Lease in place through May 21, 2030; Current Penrose Post Office operation; Approximately 0.15 miles from the Ecusta Trail
