Flex Space with Two Bay
For Sale
$1,100,000
2150 E Franklin Boulevard, Gastonia, NC 28054
Commercial Sale, Gastonia, NC
Property Size5,464 SF
Lot Size0.46 Acres
Price / SF$201.32
Days on Market16
Property Features for 2150 E Franklin Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
OFF10
Directions
From I-85, take exit 21 for Cox Rd. Make a right onto E Franklin Blvd. Property will be on the right hand side directly across from Hobby Lobby.
Standard status
Active
APN
117868
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
CLUB COLONY L 33-36 01 123 059 00 000
Legal Description
CLUB COLONY L 33-36 01 123 059 00 000
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Century 21 Town & Country Rlty · Century 21 Real Estate
(704) 735-1425
Listed By:
Jennifer Coleman · License #322722
(980) 241-5084
Added: Aug 19
Last Checked: Sep 3 at 12:06PM
MLS# 4412175
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 5,464-square-foot flex property occupies a 0.46-acre site and includes a concrete floor, two bay doors, and a wash pit. The building has three bathrooms, with one currently in working order. Central heating and central air conditioning serve the property, and public sewer is available.
Built in 1945, the building is positioned on E Franklin Boulevard in Gastonia, near I-85, shopping, dining, services, and established businesses. Its existing bay access and wash-pit infrastructure support consideration for automotive, equipment, service, warehouse, or other commercial applications, subject to zoning and required approvals.
Built in 1945, the building is positioned on E Franklin Boulevard in Gastonia, near I-85, shopping, dining, services, and established businesses. Its existing bay access and wash-pit infrastructure support consideration for automotive, equipment, service, warehouse, or other commercial applications, subject to zoning and required approvals.
Key Highlights
- 5,464 SF flex property on a 0.46‑acre site
- Two bay doors and an existing wash pit
- Three bathrooms; one currently in working order
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
$36,000
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
3.27%
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%
$720,000
$720.0K
Cap Rate 7%
$514,286
$514.3K
Cap Rate 9%
$400,000
$400.0K
Market Conditions
NOI Build-Up for 5,464 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
$54.4K $9.96/SF
− Vacancy
−$3.0K −$0.55/SF
EGI
$51.4K $9.41/SF
− OpEx
−$15.4K −$2.82/SF
NOI
$36.0K $6.59/SF
Area
Gaston County, NC
Vacancy
5.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$720,000
Cap Rate 7%
$514,286
Cap Rate 9%
$400,000
Alternative Uses
Best Use
Industrial
$514.3K
$450.0K – $600.0K
NOI $36,000 @ 7.0% cap · market cap 3.27%
Second Best
Flex RnD
$391.2K
$342.3K – $456.5K
NOI $27,387 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,383 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Concrete-floored commercial building with service-oriented features and central heating and cooling.
Where is this flex space located?
The property is located at 2150 E Franklin Boulevard Gastonia, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,464 SF flex property on a 0.46‑acre site; Two bay doors and an existing wash pit; Three bathrooms; one currently in working order
