Historic Downtown Medical Office
615 S Madison St, Whiteville, NC 28472
New
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Renovated historic building with dual entrances and stable government tenancy through remaining lease term.
Type:OFFICE
Property size:
3,460 SFPrice / SF:
$144/SF- Added:
- May 28, 2026
- Days on Market:
- 7
- Last Refresh:
- Jun 3 at 2:32 am
Property Features for 615 S Madison St
General Information
- Standard status
- Active
- Size
- 3,460 SF
- Property subtype
- OFFICE
Listing agent Mason Watkins (704) 661-4077
Listing office Sun Coast Partners Commercial (704) 661-4077
Listing date May 28, 2026
Source Moodyscre
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 Sun Coast Partners Commercial
HighLights
- 3,460± SF historic downtown building at 615 S. Madison St., Whiteville, NC
- Currently leased to North Carolina Department of Health and Human Services with ~2 years remaining on a 7‑year initial term
- Lease includes three (3) additional five‑year renewal options
- Extensive renovations completed in 2020–2021 to support tenant operations while preserving historic character
- Dual access: storefront entrance on S. Madison St. plus a secondary rear entrance with direct access to on‑site parking
Overview
615 S. Madison St. presents a historic downtown office building totaling 3,460± SF, currently leased to the North Carolina Department of Health and Human Services. The property has undergone extensive renovations in 2020–2021 to support the tenant’s operational needs while preserving the character of the historic structure.
The building offers dual access points, including a traditional storefront entrance along S. Madison Street and a secondary rear entrance with direct access to the on-site parking area. The asset is positioned in the heart of downtown Whiteville and benefits from continued occupancy under a long initial lease term with additional renewal options.
For investors, this is an opportunity to acquire a well-maintained, credit-supported income stream with approximately two years remaining on the current initial term, plus three additional five-year renewal options. The lease is structured as a full-service arrangement, with additional lease details available upon request. The property will be subject to subdivision from a parent parcel prior to closing, and tours are by appointment only with tenant operations respected.
The building offers dual access points, including a traditional storefront entrance along S. Madison Street and a secondary rear entrance with direct access to the on-site parking area. The asset is positioned in the heart of downtown Whiteville and benefits from continued occupancy under a long initial lease term with additional renewal options.
For investors, this is an opportunity to acquire a well-maintained, credit-supported income stream with approximately two years remaining on the current initial term, plus three additional five-year renewal options. The lease is structured as a full-service arrangement, with additional lease details available upon request. The property will be subject to subdivision from a parent parcel prior to closing, and tours are by appointment only with tenant operations respected.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.7k | $21.60 |
| − Vacancy | −$16.9k | −$4.88 |
| EGI | $57.8k | $16.72 |
| − OpEx | −$14.5k | −$4.18 |
| NOI | $43.4k | $12.54 |
3,460 SF · lease $21.60/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$619.8K
$542.3K – $723.1K
NOI $43,384 @ 7.0% cap · market cap 8.68%
Second Best
Healthcare Medical
$582.9K
$510.0K – $680.0K
NOI $40,802 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$839.3K
$734.4K – $979.2K
NOI $58,752 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Vocational Rehabilitation
Social Service Agency
Location Insight
- Map
- Local Demand
- City
- Whiteville
- County
- Columbus
- State
- North Carolina
- Longitude
- -78.7026588
- Latitude
- 34.3230862
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Renovated historic building with dual entrances and stable government tenancy through remaining lease term.
Where is this office building located?
The property is located at 615 S Madison St Whiteville, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,460± SF historic downtown building at 615 S. Madison St., Whiteville, NC; Currently leased to North Carolina Department of Health and Human Services with ~2 years remaining on a 7‑year initial term; Lease includes three (3) additional five‑year renewal options
