Operational Flex Space with Pull-Through
For Sale
$475,000
2140 Wade Stedman Road, Stedman, NC 28391
CommercialSale, Stedman, NC
Property Size5,428 SF
Lot Size1.62 Acres
Price / SF$87.51
Days on Market12
Property Features for 2140 Wade Stedman Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2P - Central Business
Lot features
One To Two Acres, Level
Standard status
Active
APN
0497-18-2055.000
Lot size
1.62 Acres
Taxes and HOA fees
Tax Description
BETHANY RURAL FIRE DEPT INC RECOMB SE:01 PL:0105-0170
Legal Description
BETHANY RURAL FIRE DEPT INC RECOMB SE:01 PL:0105-0170
Utilities
Water source
Well
Amenities
commercial kitchen
security cameras
fiber internet
backup generator
keyless entry
exterior lighting
marquee
flagpole
showers
washer/dryer hookups
ADA-accessible restrooms
Building Details
Year built
1960
Building materials
Brick, Concrete
Listing Agency:
GRANT-MURRAY REAL ESTATE LLC.
(910) 829-1617
Listed By:
KEVIN CARROLL · License #363322
(910) 990-3974
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 767457
Copyright © 2026 Longleaf Pine Realtors. 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 flex property occupies 1.62 acres and includes a conditioned masonry building constructed in 1960. The facility has three offices, a reception area, meeting room, lounge, 400 square feet of upstairs open space, two ADA-accessible restrooms, two showers, and a utility room with washer/dryer hookups. Heated apparatus bays include electronic overhead doors and a 90-foot pull-through bay for large service vehicles, trailers, and fleet equipment.
Three wired storage buildings are included, with one equipped with three-phase power. The property also has two water wells, upgraded septic, fiber internet, a 30 kW backup generator, commercial kitchen facilities, keyless entry, security cameras, exterior lighting, a marquee, and a flagpole. Approximately 300 feet of frontage along Wade Stedman Road provides direct access for employees, customers, and fleet vehicles. The property is in eastern Cumberland County with access to Fayetteville and Interstate 95, and rezoning to C2(P) is underway.
Three wired storage buildings are included, with one equipped with three-phase power. The property also has two water wells, upgraded septic, fiber internet, a 30 kW backup generator, commercial kitchen facilities, keyless entry, security cameras, exterior lighting, a marquee, and a flagpole. Approximately 300 feet of frontage along Wade Stedman Road provides direct access for employees, customers, and fleet vehicles. The property is in eastern Cumberland County with access to Fayetteville and Interstate 95, and rezoning to C2(P) is underway.
Key Highlights
- 1.62‑acre flex property with approximately 300 feet of frontage along Wade Stedman Road
- 90‑foot pull‑through bay with heated apparatus bays and electronic overhead doors
- Three wired storage buildings, including one with three‑phase power
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
$42,139
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
8.87%
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%
$842,780
$842.8K
Cap Rate 7%
$601,986
$602.0K
Cap Rate 9%
$468,211
$468.2K
Market Conditions
NOI Build-Up for 5,428 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
$54.1K $9.96/SF
− Vacancy
−$4.5K −$0.83/SF
EGI
$49.6K $9.13/SF
− OpEx
−$7.4K −$1.37/SF
NOI
$42.1K $7.76/SF
Area
Cumberland County, NC
Vacancy
8.30%
Lease Rate
$9.96 /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%
$842,780
Cap Rate 7%
$601,986
Cap Rate 9%
$468,211
Alternative Uses
Best Use
Industrial
$789.2K
$690.5K – $920.7K
NOI $55,243 @ 7.0% cap · market cap 11.63%
Second Best
Warehouse
$602.0K
$526.7K – $702.3K
NOI $42,139 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,794 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28391, NC
5,476
Population
2,414
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
39.3 sq mi
ZIP Area
139
Density / Sq Mi
$70,227
Median Household Income
$48,008
Median Earnings
$875
Median Rent
$184,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Conditioned masonry facility with offices, heated bays, storage buildings, and fleet-oriented access.
Where is this flex space located?
The property is located at 2140 Wade Stedman Road Stedman, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1.62‑acre flex property with approximately 300 feet of frontage along Wade Stedman Road; 90‑foot pull‑through bay with heated apparatus bays and electronic overhead doors; Three wired storage buildings, including one with three‑phase power
