Single-Tenant Medical Office
New
For Sale
Contact for pricing
959 Cox Road, Gastonia, NC 28054
A newly signed net lease provides annual rent increases and two renewal options.
Property Size13,886 SF
Price / SF$320
Days on Market5
Property Features for 959 Cox Road
General Information
Standard status
Active
Size
13,886 SF
Property subtype
Retail, Office
Additional Details
Office Units
1
Building Details
Buildings
1
Building Size
13,886 SF
Tenancy
Single
Listing Agency:
Northmarq - Chicago
Listed By:
Isaiah Harf · License #IL 471019332
(312) 777-2437
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 3:18PM
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 Northmarq - Chicago
Investment Insights
Based on property information with market context.
This 13,886-square-foot medical office building in Gastonia is occupied by Kintegra Health under a newly signed ten-year net lease. The agreement includes 2.5% annual rent increases and two five-year renewal options. The offering is for the fee simple interest in the property at 959 Cox Road.
Kintegra Health operates more than 40 practices across 20 counties and employs over 1,200 people. Gastonia is the organization’s founding market and home to its administrative headquarters.
Kintegra Health operates more than 40 practices across 20 counties and employs over 1,200 people. Gastonia is the organization’s founding market and home to its administrative headquarters.
Key Highlights
- 13,886‑square‑foot medical office building leased to Kintegra Health
- New ten‑year net lease with 2.5% annual rent increases
- Two five‑year renewal options
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
$243,532
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
5.48%
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%
$4,870,640
$4.9M
Cap Rate 7%
$3,479,029
$3.5M
Cap Rate 9%
$2,705,911
$2.7M
Market Conditions
NOI Build-Up for 13,886 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
$361.6K $26.04/SF
− Vacancy
−$36.9K −$2.66/SF
EGI
$324.7K $23.38/SF
− OpEx
−$81.2K −$5.85/SF
NOI
$243.5K $17.54/SF
Area
Gaston County, NC
Vacancy
10.20%
Lease Rate
$26.04 /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%
$4,870,640
Cap Rate 7%
$3,479,029
Cap Rate 9%
$2,705,911
Alternative Uses
Best Use
Office B
$3.48M
$3.04M – $4.06M
NOI $243,532 @ 7.0% cap · market cap 5.48%
Second Best
Healthcare Medical
$2.76M
$2.42M – $3.22M
NOI $193,400 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$4.37M
$3.82M – $5.10M
NOI $305,936 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,653
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28054, NC
40,548
Population
18,351
Households
2.2
Avg Household Size
40
Median Age
25%
College-Educated
90%
High-School Grad
19.3 sq mi
ZIP Area
2,101
Density / Sq Mi
$59,524
Median Household Income
$39,883
Median Earnings
$1,150
Median Rent
$220,200
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A newly signed net lease provides annual rent increases and two renewal options.
Where is this medical office space located?
The property is located at 959 Cox Road Gastonia, NC.
What is the asking price?
The asking price for this property is $4,443,520.
What are key features of this property?
This property features: 13,886‑square‑foot medical office building leased to Kintegra Health; New ten‑year net lease with 2.5% annual rent increases; Two five‑year renewal options
