Office Unit with Adaptive Reuse
New
For Sale
$399,500
74 Long Shoals Road, Arden, NC 28704
Institutional zoning supports consideration of professional office conversion, subject to approvals.
Property Size1,437 SF
Days on Market2
Property Features for 74 Long Shoals Road
General Information
Standard status
Active
Size
1,437 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,437 SF
Year Built
1955
Listing Agency:
(828) 551-5388
Listed By:
Michael Shomper
(828) 551-5388
Source:
Naiglobal
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 2:51AM
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 Michael Shomper
Investment Insights
Based on property information with market context.
This 1,437-square-foot property dates to 1955 and is positioned for consideration as a professional office conversion. Its compact scale may suit a small office user seeking an alternative to a conventional office park, subject to required approvals.
Located along Long Shoals Road in Arden, the property is surrounded by commercial uses and offers access to major thoroughfares with nearby connectivity to the I-26 corridor. Institutional zoning provides the framework for evaluating professional office use, subject to applicable approvals.
Located along Long Shoals Road in Arden, the property is surrounded by commercial uses and offers access to major thoroughfares with nearby connectivity to the I-26 corridor. Institutional zoning provides the framework for evaluating professional office use, subject to applicable approvals.
Key Highlights
- ±1,437 SF of existing space
- Institutional zoning with professional office conversion subject to approvals
- Located at 74 Long Shoals Road in Arden, NC 28704
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
$26,661
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
6.67%
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%
$533,220
$533.2K
Cap Rate 7%
$380,871
$380.9K
Cap Rate 9%
$296,233
$296.2K
Market Conditions
NOI Build-Up for 1,437 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
$36.4K $25.32/SF
− Vacancy
−$837 −$0.58/SF
EGI
$35.5K $24.74/SF
− OpEx
−$8.9K −$6.18/SF
NOI
$26.7K $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 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%
$533,220
Cap Rate 7%
$380,871
Cap Rate 9%
$296,233
Alternative Uses
Best Use
Office B
$380.9K
$333.3K – $444.4K
NOI $26,661 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.4K
$397.6K – $530.1K
NOI $31,808 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 28704, NC
23,734
Population
11,514
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
30.1 sq mi
ZIP Area
789
Density / Sq Mi
$79,088
Median Household Income
$39,072
Median Earnings
$1,369
Median Rent
$343,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Institutional zoning supports consideration of professional office conversion, subject to approvals.
Where is this office units located?
The property is located at 74 Long Shoals Road Arden, NC.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: ±1,437 SF of existing space; Institutional zoning with professional office conversion subject to approvals; Located at 74 Long Shoals Road in Arden, NC 28704
