Medical Office
For Sale
$255,000
609 Jefferson St, Whiteville, NC 28472
Functional professional layout with reception space, multiple rooms, and on-site parking.
Property Size1,932 SF
Price / SF$131.99
Days on Market191
Property Features for 609 Jefferson St
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Commercial
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Hilton Auction & Realty Inc-Whiteville
Listed By:
Mary G Wheatley · License #325043
(910) 770-5103
Source:
Coastalrealtyassociates
Added: Mar 12
Changed: Sep 7
Last Checked: Sep 18 at 7:28AM
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 Hilton Auction & Realty Inc-Whiteville
Investment Insights
Based on property information with market context.
This medical office property includes a defined lobby for welcoming patients and visitors, along with multiple interior rooms that can support exam, office, or flexible workspace functions. The layout provides a practical framework for professional operations without relying on a single room configuration.
On-site parking serves staff and visitors. The property was built in 1963 and is located at 609 Jefferson St in Whiteville, North Carolina.
On-site parking serves staff and visitors. The property was built in 1963 and is located at 609 Jefferson St in Whiteville, North Carolina.
Key Highlights
- Medical office property with a functional lobby area
- Multiple rooms suitable for exam rooms, private offices, or flexible workspace
- On‑site parking 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Functional professional layout with reception space, multiple rooms, and on-site parking.
Where is this medical office space located?
The property is located at 609 Jefferson St 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: Medical office property with a functional lobby area; Multiple rooms suitable for exam rooms, private offices, or flexible workspace; On‑site parking for staff and visitors
