Multi-Tenant Warehouse
For Sale
$2,600,000
1032 Central Drive NW, Concord, NC 28027
Commercial Sale, Concord, NC
Property Size15,980 SF
Lot Size1.16 Acres
Price / SF$162.70
Days on Market88
Property Features for 1032 Central Drive NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Fencing
Fenced, Chain Link
Standard status
Active
APN
56119722140000
Lot size
1.16 Acres
Taxes and HOA fees
Tax Description
P/O LTS 1-2 CENTRAL DR INDUSTRIAL PARK
Legal Description
P/O LTS 1-2 CENTRAL DR INDUSTRIAL PARK
Building Details
Year built
1998
Floors in Building
1
Listing Agency:
Century 21 Providence Realty · Century 21 Real Estate
(704) 847-2144
Listed By:
Pat Flanagan
(704) 916-9552
Added: Jul 10
Changed: Oct 2
Last Checked: Oct 5 at 2:06AM
MLS# 4402934
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property contains a multi-tenant industrial arrangement with three established occupants and 100% occupancy. The improvements were built in 1998 and the site is secured with chain-link fencing.
Located in Concord within Cabarrus County, the property sits near Interstate 85, offering access to Charlotte, Kannapolis, Concord, regional transportation routes, and surrounding industrial markets. Its position also connects to area labor pools and distribution networks.
Located in Concord within Cabarrus County, the property sits near Interstate 85, offering access to Charlotte, Kannapolis, Concord, regional transportation routes, and surrounding industrial markets. Its position also connects to area labor pools and distribution networks.
Key Highlights
- 100% occupied by three established tenants
- Warehouse property in an established Cabarrus County industrial corridor
- Built in 1998
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
$190,901
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
7.34%
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%
$3,818,020
$3.8M
Cap Rate 7%
$2,727,157
$2.7M
Cap Rate 9%
$2,121,122
$2.1M
Market Conditions
NOI Build-Up for 15,980 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
$233.9K $14.64/SF
− Vacancy
−$9.4K −$0.59/SF
EGI
$224.6K $14.05/SF
− OpEx
−$33.7K −$2.11/SF
NOI
$190.9K $11.95/SF
Area
Concord, NC
Vacancy
4.00%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
15.00%
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%
$3,818,020
Cap Rate 7%
$2,727,157
Cap Rate 9%
$2,121,122
Alternative Uses
Best Use
Warehouse
$2.73M
$2.39M – $3.18M
NOI $190,901 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.35M
$3.81M – $5.08M
NOI $304,826 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28027, NC
76,478
Population
31,450
Households
2.4
Avg Household Size
36
Median Age
43%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
1,108
Density / Sq Mi
$89,101
Median Household Income
$48,976
Median Earnings
$1,433
Median Rent
$341,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced industrial property is fully occupied by three established tenants.
Where is this warehouse located?
The property is located at 1032 Central Drive NW Concord, NC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 100% occupied by three established tenants; Warehouse property in an established Cabarrus County industrial corridor; Built in 1998
