Medical Office Condo For
7 McDowell St, Asheville, NC 28801
Medical office condo near Mission Hospital, Asheville, NC.
Type:Office
Property size:
6,410 SFLot size:
1.12 AcresPrice / SF:
$333/SF- Added:
- Feb 23, 2026
- Days on Market:
- 88
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 7 McDowell St
General Information
- Standard status
- Active
- Size
- 6,410 SF
- Lot size
- 1.12 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1979
Listing agent Richard D. Whitney License #NC 145226
Listing office Whitney Commercial Real Estate
Listing date Feb 23, 2026
Source Crexi
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 Whitney Commercial Real Estate
HighLights
- Long‑term national tenant (Labcorp) provides stable income.
- Prime centralized location within view of Mission Hospital.
- Combined square footage of 6,410 across two units.
- Recent interior renovation by Labcorp.
- Recent building upgrades including a new roof and resurfaced parking lot.
- Compelling investment opportunity.
Overview
This offering features a medical office condo for sale, comprising two units (100 & 300) with a combined area of 6,410 square feet. The property is part of the 7 McDowell Street Condominiums, constructed in 1979 on a 1.117-acre lot. Recent upgrades to the building include a new roof and a resurfaced asphalt parking lot. The interior has been recently renovated by the tenant, Labcorp, a national tenant with a long-term presence. The property is centrally located and offers visibility to Mission Hospital, presenting an investment opportunity.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.32M
NOI $118,926 @ 9.00% cap · cautious / downside scenario
Moderate
$1.70M
NOI $118,926 @ 7.00% cap · market / base-case scenario
Aggressive
$2.38M
NOI $118,926 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $162.3k | $25.32 |
| − Vacancy | −$3.7k | −$0.58 |
| EGI | $158.6k | $24.74 |
| − OpEx | −$39.6k | −$6.18 |
| NOI | $118.9k | $18.55 |
6,410 SF · lease $25.32/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,926 @ 7.0% cap · market cap 5.56%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,414 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,885 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Dr. Gene Withrow, ...
Dental Office
Dale Fell Health ...
Health
LabCorp
Blood Testing Service
Anjuli Munjal
Physician
Mr. Casey Ward
Physician
Similar Places Nearby
- Animal Rehab Center of Asheville — 178 s charlotte st, asheville, nc 28801
- Sunvet Animal Wellness Clinic — 251 Haywood St A, Asheville, NC 28801
- Pickett Scott E DVM — Asheville, NC 28801, United States
- Cat Clinic of Asheville — 49 Haywood Rd, Asheville, NC 28806
- Animal Movement — 251 Haywood St, Asheville, NC 28801
Location Insight
- Map
- Local Demand
- City
- Asheville
- County
- Buncombe
- State
- North Carolina
- Longitude
- -82.555622
- Latitude
- 35.58331
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Medical office condo near Mission Hospital, Asheville, NC.
Where is this medical office space located?
The property is located at 7 McDowell St Asheville, NC.
What is the asking price?
The asking price for this property is $2,140,000.
What are key features of this property?
This property features: Long‑term national tenant (Labcorp) provides stable income.; Prime centralized location within view of Mission Hospital.; Combined square footage of 6,410 across two units.
