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    377 Gallimore Rd Brevard, NC 28712

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    For Lease
    Contact for pricing

    15,333 SF Medical Office - Fully Vacant

    Lot size:
    15,333 SF

    Property Features for 377 Gallimore Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,333 SF
    Class
    B
    Total Rate
    19166.25

    Spaces For Lease

    at 377 Gallimore Rd, Brevard, NC 28712 Contact us
    Unit Available Space

    $15 /Mo

    Size
    15,333 SF
    Contact us

    We can help!

    Listing Contact
    Austin Tyler
    Austin Tyler

    Listing Agent: Austin Tyler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 15,333-square-foot Class B medical office building is available for lease in Brevard, North Carolina. Located at 377 Gallimore Road, zip code 28712, this single-tenant property offers a turnkey opportunity for a medical practice seeking ample space and convenient amenities. The building boasts a spacious waiting area, 24 exam rooms, a fully equipped laboratory, a nurses' station, multiple private offices, ample storage, restrooms, and a comfortable break room. The property is well-maintained and situated in a desirable location surrounded by residential areas, ensuring high visibility and convenient access for patients. The building features abundant handicap-accessible parking at the front, conveniently covered by a portico, and additional staff parking is located at the rear. This property is ideally suited for a medical practice requiring significant space to accommodate a large patient volume and diverse staff needs. The entire building is currently vacant, presenting a unique opportunity for a single tenant to customize the space to their exact specifications. The property is situated in Transylvania County, North Carolina. This is a rare opportunity to secure a substantial, well-appointed medical office building in a thriving community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Associates: La ... Physician Dr. Marshall S. ... Pediatrician Alexandra Chatterton Physician Benton III George ... Physician Dr. Morris L. ... Pediatrician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brevard
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.7290242
    Latitude
    35.2218925

    Nearby Similar for Lease

    • $12 SF/Yr
      9,600 SF

      Retail/Office Space in Brevard

      Two spaces available near downtown Brevard with high traffic.
      165 Rosman Hwy, Brevard, NC 28712
      View Details
    • $14 SF/Yr
      17,699 SF

      Class A Medical Office Space

      Transylvania County, 3,129 SF Available
      89 Hospital Dr, Brevard, NC 28712
      View Details
    • Contact for pricing
      1,450 SF

      Downtown Brevard Retail Space

      Prime Brevard location, 1450 sq ft, multiple uses.
      52 Main St, Brevard, NC 28712
      View Details

    FAQs

    What type of property is this?
    Medical office - 15,333 SF Medical Office - Fully Vacant
    Where is this medical office located?
    The property is located at 377 Gallimore Rd Brevard, NC.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 15,333 SF Class B medical office building available for lease in Brevard, NC (28712).; Single-tenant, turnkey opportunity with 24 exam rooms, private offices, nurses' station, and lab.; Spacious waiting area with portico entrance and ample parking.
    (828) 548-0090 Call to check price and availability
    Request Owner's contact information
    377 Gallimore Rd Brevard, NC 28712
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    Brevard, NC 28712
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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.

    More about this property
    377 Gallimore Rd Brevard, NC 28712
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Austin Tyler
    Austin Tyler
    Real Estate License ID: NC257685
    (828) 548-0090 (828) 257-7034
    Learn more
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