Asheville Medical Office For
For Sale
Contact for pricing
6 Brooklet St, Asheville, NC 28801
Turnkey medical office space near major healthcare facilities.
Property Size4,928 SF
Price / SF$446.43
Days on Market186
Property Features for 6 Brooklet St
General Information
Standard status
Active
Size
4,928 SF
Property subtype
Office
Zoning
INST
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1989
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Likewise Commercial Real Estate
(828) 575-0272
Listed By:
Abigail Farrow · License #NC 302812
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 22 at 6:09AM
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 Likewise Commercial Real Estate
Investment Insights
Based on property information with market context.
This approximately 4,928 square foot medical office building presents an investment or owner-user opportunity. The property features ample on-site parking and a functional, well-appointed layout. Zoned INST (Institutional), the property is suitable for a variety of medical and related institutional uses. The location provides convenient access to Mission Hospital, AdventHealth Asheville, and other major healthcare facilities via I-40 and I-26. Square footage is taken from property card records. Interior images for the upper-level unit are upcoming.
Key Highlights
- ±4,928 SF medical office space ideal for investment or owner‑user.
- Highly accessible location just off Biltmore Ave, near I‑40 and I‑26.
- Zoned INST (Institutional), suitable for a variety of medical and related uses.
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
$91,430
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
4.16%
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%
$1,828,600
$1.8M
Cap Rate 7%
$1,306,143
$1.3M
Cap Rate 9%
$1,015,889
$1.0M
Market Conditions
NOI Build-Up for 4,928 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
$124.8K $25.32/SF
− Vacancy
−$2.9K −$0.58/SF
EGI
$121.9K $24.74/SF
− OpEx
−$30.5K −$6.18/SF
NOI
$91.4K $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 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%
$1,828,600
Cap Rate 7%
$1,306,143
Cap Rate 9%
$1,015,889
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,430 @ 7.0% cap · market cap 4.16%
Second Best
Healthcare Medical
$1.17M
$1.02M – $1.36M
NOI $81,811 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,081 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,333
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office space near major healthcare facilities.
Where is this medical office space located?
The property is located at 6 Brooklet St Asheville, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ±4,928 SF medical office space ideal for investment or owner‑user.; Highly accessible location just off Biltmore Ave, near I‑40 and I‑26.; Zoned INST (Institutional), suitable for a variety of medical and related uses.
