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    Sylva Commercial Office Space Title is generated by Realmo AI

    74 Eastgate Road, Sylva, NC 28779

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    COMMERCIAL - Sylva, NC

    Property size:
    1,890 SF
    Lot size:
    0.04 Acres
    Added:
    Aug 15, 2024
    Days on Market:
    638
    Last Refresh:
    May 14 at 10:06 pm

    Property Features for 74 Eastgate Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Parking Lot
    Standard status
    Pending
    APN
    7642820173
    Size
    1,890 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    800

    Utilities

    Utilities
    Water Available
    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Electric, Heat Pump, Central Air

    Building Details

    Year built
    1982
    Floors in Building
    1
    Flooring type
    Tile, Carpet
    Building materials
    Stucco, Stone
    Roof type
    Composition

    We can help!

    Listing Contact
    Florence Scarborough

    Listing agent Florence Scarborough License #263526

    Listing office Better Homes and Gardens Real Estate Heritage (MLS Only) 1986 Soco Road, Maggie Valley, NC

    Listing date Aug 15, 2024

    MLS# 26024875

    Copyright © 2026 Carolina Smokies Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Versatile commercial office space suitable for professional offices, medical practice, or other commercial uses.
    • Convenient location across from Eastgate Pharmacy and near hospital and Hwy. 23/74.
    • Includes 8 rooms, including a reception area.
    • Features front and back entrances.
    • Equipped with a hydrotherapy tub.
    • Constructed with durable stucco and stone exterior.

    Overview

    This end unit commercial office space, previously used as a physical therapy and doctor's office, is available. The 1890 square foot space contains a total of 8 rooms, including a reception area. The property features both front and back entrances, with carpet flooring in the majority of the space. Additional features include a hydrotherapy tub and built-in bookcases in the office area. It is suitable for professional offices, medical practices, or other commercial uses. The property is located across from Eastgate Pharmacy and is convenient to the hospital and Hwy 23/74. The square footage is approximate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • Cope Creek Animal Hospital — 8 Connor Rd, Sylva, NC 28779
    • Jackson County Veterinary — 1362 E Main St, Sylva, NC 28779

    Map

    City
    Sylva
    County
    Jackson
    State
    North Carolina
    Longitude
    -83.2012411
    Latitude
    35.3865101

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    FAQs

    What type of property is this?
    Medical Office Space - End unit office space suitable for medical or professional use.
    Where is this medical office space located?
    The property is located at 74 Eastgate Road Sylva, NC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Versatile commercial office space suitable for professional offices, medical practice, or other commercial uses.; Convenient location across from Eastgate Pharmacy and near hospital and Hwy. 23/74.; Includes **8 rooms, including a reception area.**
    (828) 777-0312
    We can help!
    Listing Contact
    Florence Scarborough
    Real Estate License ID: 263526
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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