Renovated Office Space For
For Sale
Contact for pricing
5 Doctors Park, Asheville, NC 28801
Renovated office with private offices, conference room, and kitchenette.
Property Size1,482 SF
Price / SF$249.66
Days on Market890
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Property Features for 5 Doctors Park
General Information
Standard status
Active
Size
1,482 SF
Property subtype
Office
Zoning
INST
Building Details
Year Built
1966
Listing Agency:
Ellington Realty Group
Listed By:
A. Ryan Israel, CCIM · License #NC 268452
(828) 575-1500
Source:
Crexi
Added: May 9, 2024
Changed: Sep 14
Last Checked: Oct 14 at 9:59PM
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 Ellington Realty Group
Investment Insights
Based on property information with market context.
This renovated office space is located in Doctors Park and features nicely appointed finishes. The 1482 square-foot office includes three private offices, a conference room, and a kitchenette. The floor plan is available for review. This property is suitable for commercial real estate purposes.
Key Highlights
- Renovated office space ready for immediate occupancy.
- Located in Doctors Park, offering a professional and convenient setting.
- 3 Private Offices provide dedicated workspace.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,496
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,920
$549.9K
Cap Rate 7%
$392,800
$392.8K
Cap Rate 9%
$305,511
$305.5K
Market Conditions
NOI Build-Up for 1,482 SF
Gross rent
$37.5K $25.32/SF
− Vacancy
−$863 −$0.58/SF
EGI
$36.7K $24.74/SF
− OpEx
−$9.2K −$6.18/SF
NOI
$27.5K $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%
$549,920
Cap Rate 7%
$392,800
Cap Rate 9%
$305,511
Alternative Uses
Best Use
Office B
$392.8K
$343.7K – $458.3K
NOI $27,496 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,188
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Renovated office with private offices, conference room, and kitchenette.
Where is this office units located?
The property is located at 5 Doctors Park Asheville, NC.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Renovated office space ready for immediate occupancy.; Located in Doctors Park, offering a professional and convenient setting.; 3 Private Offices provide dedicated workspace.
