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    Medical Office Space Available Title is generated by Realmo AI

    89 Hospital Dr, Brevard, NC 28712

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    Class A medical office buildings for lease on hospital campus.

    Type:Office
    Added:
    Oct 12, 2022
    Days on Market:
    1333
    Last Refresh:
    May 12 at 8:04 pm

    Property Features for 89 Hospital Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2009

    Spaces For Lease

    at 89 Hospital Dr Contact us

    Building C $14/Mo

    Size
    3,129 SF
    Type
    Office
    Building C consists of a Lobby/Waiting Room area, 4 Exam Rooms, 4 Private Offices,...
    show more
    Contact us

    We can help!

    Listing Contact
    Austin Tyler

    Listing agent Austin Tyler License #NC257685

    Listing office Dewey Property Advisors

    Listing date Oct 12, 2022

    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 Dewey Property Advisors

    HighLights

    • Located on the campus of MH Transylvania Regional Hospital.
    • Class A medical office building in very good condition, built in 2009.
    • Suited for medical or office tenants.
    • Building C includes multiple exam rooms, private offices, and storage rooms.
    • Transylvania Regional Hospital is a Top 20 Critical Access Hospital.
    • Transylvania Regional Hospital is fully accredited by The Joint Commission.

    Overview

    Located on the campus of MH Transylvania Regional Hospital, 89 Hospital Drive features Class A, multi-tenant medical office buildings available for lease. Constructed in 2009, the property is in very good condition and suitable for medical or office tenants. Building C includes a Lobby/Waiting Room area, 4 Exam Rooms, 4 Private Offices, 3 Storage Rooms, and 2 Restrooms, with stairs leading to a second floor containing 2 additional Offices and a Restroom. The office complex benefits from its location on the campus of MH Transylvania Regional Hospital, which serves the residents of Transylvania and surrounding counties. The 92-bed hospital employs more than 600 people and has 150 volunteers. Transylvania Regional Hospital is accredited by The Joint Commission on Accreditation of Healthcare Organizations and was recently named one of the Top 20 Critical Access Hospitals in the United States. The property is located immediately to the left of Hospital Drive, the road connecting Hwy 276 to Transylvania Regional Hospital.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kristi Leigh Pratt Dental Office Dr. Alena Karol Dental Office Shantae Ladon Lucas Physician Dr. Parke Ladd Dental Office Parke Joseph Ladd Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brevard
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.713903
    Latitude
    35.256255

    Nearby Similar for Lease

    • $7,848/Mo
      5,625 SF

      Medical Office Building in Brevard

      5,625 SF medical office building near Transylvania Regional Hospital.
      157 Medical Park Drive, Brevard, NC 28712
      View Details
    • $15 SF/Yr
      15,333 SF

      Medical Office Space in Brevard

      15,333 SF medical office space for lease.
      377 Gallimore Road, Brevard, NC 28712
      View Details
    • $14 SF/Yr

      Medical Office Space For Lease

      Class A medical office space on hospital campus for lease.
      89 Hospital Drive, Brevard, NC 28712
      View Details
    • $15 SF/Yr
      15,333 SF

      Medical Office Space For Lease

      15,333 SF medical office space available for lease.
      377 Gallimore Rd, Brevard, NC 28712
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Class A medical office buildings for lease on hospital campus.
    Where is this medical office space located?
    The property is located at 89 Hospital Dr Brevard, NC.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Located on the campus of MH Transylvania Regional Hospital.; Class A medical office building in very good condition, built in 2009.; Suited for medical or office tenants.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Austin Tyler
    Real Estate License ID: NC257685
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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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