Two-Unit Medical Office
For Sale
$2,140,000
7 Mcdowell Street #100/300, Asheville, NC 28801
Labcorp occupies both suites, with a renovated interior and recent improvements to the roof and parking surface.
Property Size6,410 SF
Lot Size1.12 Acres
Price / SF$333.85
Days on Market276
Property Features for 7 Mcdowell Street #100/300
General Information
Standard status
Active
Size
6,410 SF
Total Parking Spaces
47
Lot size
1.12 Acres
Property subtype
Commercial
Zoning
OB
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1979
Tenancy
Single
Listing Agency:
Whitney Commercial Real Estate
(828) 665-9085
Listed By:
Richard Whitney
(828) 712-8888
Source:
Dylerealestate
Added: Jan 21
Changed: Oct 23
Last Checked: Oct 23 at 4:03PM
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
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Investment Insights
Based on property information with market context.
This medical office condominium comprises units 100 and 300, totaling 6,410 square feet. Built in 1979 and zoned OB, the property has a new roof and a resurfaced asphalt parking lot. Labcorp occupies the space and has renovated the interior.
The property is in downtown Asheville, within view of Mission Hospital. Nearby destinations include Pack Square Park, the Thomas Wolfe Memorial and the Asheville Art Museum, along with dining, shops, breweries, pharmacies and healthcare services.
The property is in downtown Asheville, within view of Mission Hospital. Nearby destinations include Pack Square Park, the Thomas Wolfe Memorial and the Asheville Art Museum, along with dining, shops, breweries, pharmacies and healthcare services.
Key Highlights
- Two medical office units combine for 6,410 square feet
- Labcorp occupies the space and renovated the interior
- Built in 1979
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,926
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,378,520
$2.4M
Cap Rate 7%
$1,698,943
$1.7M
Cap Rate 9%
$1,321,400
$1.3M
Market Conditions
NOI Build-Up for 6,410 SF
Gross rent
$162.3K $25.32/SF
− Vacancy
−$3.7K −$0.58/SF
EGI
$158.6K $24.74/SF
− OpEx
−$39.6K −$6.18/SF
NOI
$118.9K $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 Rate 5%
$2,378,520
Cap Rate 7%
$1,698,943
Cap Rate 9%
$1,321,400
Alternative Uses
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 authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,158
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
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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 - Labcorp occupies both suites, with a renovated interior and recent improvements to the roof and parking surface.
Where is this medical office space located?
The property is located at 7 Mcdowell Street #100/300 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: Two medical office units combine for 6,410 square feet; Labcorp occupies the space and renovated the interior; Built in 1979
