First-Floor Medical Office
For Sale
$1,690,000
600 Julian Lane #620, Arden, NC 28704
Condominium suite currently configured for medical-office use within a 2006 commercial building.
Property Size3,450 SF
Price / SF$489.86
Days on Market73
Property Features for 600 Julian Lane #620
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Commercial
Additional Details
Floor
1st floor
Building Details
Year Built
2006
Listing Agency:
Pulliam Properties, Inc
(828) 684-4344
Listed By:
Paul Ellis · License #246015
Source:
Techrealtyllc
Added: May 27
Changed: Aug 3
Last Checked: Aug 6 at 12:22PM
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 Pulliam Properties, Inc
Investment Insights
Based on property information with market context.
This 3,450-square-foot condominium suite occupies the first floor of a commercial property built in 2006. The space is presently arranged for medical-office use, providing an existing professional setting for an owner-user or incoming occupant.
The property is located at 600 Julian Lane, Suite 620, in Arden, North Carolina. Current occupants are relocating, creating an opportunity to acquire the suite with its existing medical-office configuration.
The property is located at 600 Julian Lane, Suite 620, in Arden, North Carolina. Current occupants are relocating, creating an opportunity to acquire the suite with its existing medical-office configuration.
Key Highlights
- 3,450‑square‑foot medical office condominium suite
- First‑floor location at 600 Julian Lane #620, Arden, NC 28704
- Commercial building constructed in 2006
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
$64,009
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
3.79%
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%
$1,280,180
$1.3M
Cap Rate 7%
$914,414
$914.4K
Cap Rate 9%
$711,211
$711.2K
Market Conditions
NOI Build-Up for 3,450 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
$87.4K $25.32/SF
− Vacancy
−$2.0K −$0.58/SF
EGI
$85.3K $24.74/SF
− OpEx
−$21.3K −$6.18/SF
NOI
$64.0K $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%
$1,280,180
Cap Rate 7%
$914,414
Cap Rate 9%
$711,211
Alternative Uses
Best Use
Office B
$914.4K
$800.1K – $1.07M
NOI $64,009 @ 7.0% cap · market cap 3.79%
Second Best
Healthcare Medical
$818.2K
$715.9K – $954.6K
NOI $57,274 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$1.09M
$954.6K – $1.27M
NOI $76,365 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28704, NC
23,734
Population
11,514
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
30.1 sq mi
ZIP Area
789
Density / Sq Mi
$79,088
Median Household Income
$39,072
Median Earnings
$1,369
Median Rent
$343,600
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.
Similar Off Market Nearby
- WNC Veterinary Hospital — 2 Pond St, Arden, NC 28704
- Dr. Brett Young — 2 Pond St, Arden, NC 28704
- Pinnacle Animal Hospital — 200 Julian Ln Ste 240, Arden, NC 28704
- Western Carolina Veterinary Surgery — 1 Atkins St, Arden, NC 28704
- Dr. Tim McMullan — 200 Julian Ln, Arden, NC 28704
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium suite currently configured for medical-office use within a 2006 commercial building.
Where is this medical office space located?
The property is located at 600 Julian Lane #620 Arden, NC.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 3,450‑square‑foot medical office condominium suite; First‑floor location at 600 Julian Lane #620, Arden, NC 28704; Commercial building constructed in 2006
