Leased Two-Suite Medical
For Sale
Contact for pricing
9615 Kincey Avenue, Huntersville, NC 28078
Second-floor condominium with two occupied medical suites and HC (CD) zoning.
Property Size12,682 SF
Price / SF$356.46
Days on Market10
Property Features for 9615 Kincey Avenue
General Information
Standard status
Active
Size
12,682 SF
Class
A
Property subtype
Office
Zoning
HC (CD)
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$327,742
Additional Details
Floor
2
Cap Rate
7.25%
Office Units
2
Building Details
Year Built
2016
Buildings
1
Units
2
Tenancy
Multi
Listed By:
Chris Bunko · License #449106
Source:
Crexi
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 8:51PM
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 Chris Bunko
Investment Insights
Based on property information with market context.
This second-floor medical office condominium at Gilead Medical Center II contains 12,682 SF within a single tax parcel configured as two suites. Constructed in 2016, the property is currently leased in both suites, providing an established occupancy profile for a medical office acquisition.
The existing lease terms conclude within the early years of ownership, giving the next owner a defined point for future occupancy or re-tenanting decisions. The property is located at 9615 Kincey Avenue in Huntersville, North Carolina, and carries HC (CD) zoning. The offering reflects a 7.25% cap rate.
The existing lease terms conclude within the early years of ownership, giving the next owner a defined point for future occupancy or re-tenanting decisions. The property is located at 9615 Kincey Avenue in Huntersville, North Carolina, and carries HC (CD) zoning. The offering reflects a 7.25% cap rate.
Key Highlights
- 12,682 SF second‑floor medical office condominium
- Two suites within a single tax parcel
- Both suites are currently leased
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
$222,416
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
4.92%
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%
$4,448,320
$4.4M
Cap Rate 7%
$3,177,371
$3.2M
Cap Rate 9%
$2,471,289
$2.5M
Market Conditions
NOI Build-Up for 12,682 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
$330.2K $26.04/SF
− Vacancy
−$33.7K −$2.66/SF
EGI
$296.6K $23.38/SF
− OpEx
−$74.1K −$5.85/SF
NOI
$222.4K $17.54/SF
Area
Mecklenburg 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%
$4,448,320
Cap Rate 7%
$3,177,371
Cap Rate 9%
$2,471,289
Alternative Uses
Best Use
Office B
$3.18M
$2.78M – $3.71M
NOI $222,416 @ 7.0% cap · market cap 4.92%
Second Best
Healthcare Medical
$2.52M
$2.21M – $2.94M
NOI $176,631 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$4.10M
$3.59M – $4.78M
NOI $286,853 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,412
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28078, NC
67,863
Population
27,659
Households
2.5
Avg Household Size
37
Median Age
56%
College-Educated
97%
High-School Grad
63.7 sq mi
ZIP Area
1,065
Density / Sq Mi
$120,503
Median Household Income
$67,055
Median Earnings
$1,722
Median Rent
$441,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor condominium with two occupied medical suites and HC (CD) zoning.
Where is this medical office space located?
The property is located at 9615 Kincey Avenue Huntersville, NC.
What is the asking price?
The asking price for this property is $4,520,579.
What are key features of this property?
This property features: 12,682 SF second‑floor medical office condominium; Two suites within a single tax parcel; Both suites are currently leased
