Medical Office Space with
For Sale
$255,000
609 Jefferson Street, Whiteville, NC 28472
Commercial Sale, Whiteville, NC
Property Size1,932 SF
Lot Size0.43 Acres
Price / SF$131.99
Days on Market155
Property Features for 609 Jefferson Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O and I
Parking features
Parking Lot
Subdivision
Not In Subdivision
Directions
From Jefferson Street turn on to Spivey Rd. Property will be on your right. White Brick Building.
Standard status
Active
APN
0291.03-34-3763.000
Size
1,932 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot #2
Tax Annual Amount
2556
Legal Description
Lot #2
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1963
Roof type
Shingle
Listing Agency:
Hilton Auction & Realty Inc-Whiteville
(910) 207-6053
Listed By:
Mary G Wheatley · License #325043
(910) 770-5103
Added: Mar 30
Changed: Aug 19
Last Checked: Aug 31 at 4:06PM
MLS# 100563684
Copyright © 2026 Hive 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.
This 1,932-square-foot medical office property occupies 0.43 acres and offers a layout centered on a lobby with multiple separate rooms. The interior can accommodate exam rooms, private offices, or other professional workspace, as supported by the existing configuration. A parking lot provides on-site parking for staff and visitors. The property was built in 1963 and includes electric heating, a shingle roof, and public water service. Located at 609 Jefferson Street in Whiteville, North Carolina, the property is zoned O and I and is positioned for medical, office, or service-based business use.
Key Highlights
- 1,932‑square‑foot medical office property on 0.43 acres
- Lobby plus multiple rooms for exam rooms, offices, or flexible workspace
- On‑site parking lot for staff and visitors
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
$22,783
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
8.93%
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%
$455,660
$455.7K
Cap Rate 7%
$325,471
$325.5K
Cap Rate 9%
$253,144
$253.1K
Market Conditions
NOI Build-Up for 1,932 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
$42.4K $21.96/SF
− Vacancy
−$4.5K −$2.31/SF
EGI
$38.0K $19.65/SF
− OpEx
−$15.2K −$7.86/SF
NOI
$22.8K $11.79/SF
Area
Columbus County, NC
Vacancy
10.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$455,660
Cap Rate 7%
$325,471
Cap Rate 9%
$253,144
Alternative Uses
Best Use
Office B
$346.1K
$302.8K – $403.8K
NOI $24,225 @ 7.0% cap · market cap 9.50%
Second Best
Healthcare Medical
$325.5K
$284.8K – $379.7K
NOI $22,783 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$468.7K
$410.1K – $546.8K
NOI $32,806 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
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?
Medical Office Space - Lobby, multiple rooms, on-site parking, public water, and O and I zoning support a practical professional-service layout.
Where is this medical office space located?
The property is located at 609 Jefferson Street Whiteville, NC.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,932‑square‑foot medical office property on 0.43 acres; Lobby plus multiple rooms for exam rooms, offices, or flexible workspace; On‑site parking lot for staff and visitors
