Flex Space with Two-Bay
For Sale
$379,000
3840 Legion Road, Hope Mills, NC 28348
CommercialSale, Hope Mills, NC
Property Size1,700 SF
Lot Size3.00 Acres
Price / SF$222.94
Days on Market319
Property Features for 3840 Legion Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C2P - Central Business
Lot features
Three To Five Acres, Cleared
Directions
From Cross Creek Mall-Turn right onto Skibo Rd/US-401 Byp N. Turn right onto Skibo Rd/US-401 Byp N. Turn right onto All American Fwy S toward Coliseum Complex. Keep left at All American Fwy S. Follow All American Fwy S. Turn sharp right onto Cumberland Rd. Turn left onto Natal St. Turn right onto Legion Rd. Turn right. Turn left. You have arrived. Your destination is on the right
Standard status
Active
APN
0425-21-1045
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
3 ACRES FAULKNER LD
Legal Description
3 ACRES FAULKNER LD
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Amenities
conference space
Building Details
Building materials
Brick
Listing Agency:
GRANT-MURRAY HOMES
(910) 758-8322
Listed By:
RAYMOND SHARP · License #258881
(910) 987-7511
Added: Oct 22, 2025
Changed: Aug 19
Last Checked: Sep 5 at 7:06PM
MLS# 752256
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 includes 1,700 square feet of office and showroom area alongside a 1,000-square-foot workshop configured with two bays and roll-up doors. The office component contains six offices, three bathrooms, and additional areas for conferences and small-group meetings. Brick construction, electric cooling, public water, and public sewer serve the existing improvements.
The 3-acre parcel fronts approximately 200 feet along four-lane Legion Road at 3840 Legion Road in Hope Mills, North Carolina. Its substantial land area accommodates the existing commercial improvements while providing space for parking, outdoor storage, expansion, or redevelopment, subject to local planning requirements.
The 3-acre parcel fronts approximately 200 feet along four-lane Legion Road at 3840 Legion Road in Hope Mills, North Carolina. Its substantial land area accommodates the existing commercial improvements while providing space for parking, outdoor storage, expansion, or redevelopment, subject to local planning requirements.
Key Highlights
- 3‑acre parcel with approximately 200 feet of frontage on Legion Road
- 1,700 SF office and showroom area with six offices and three bathrooms
- 1,000‑square‑foot workshop configured with two bays and roll‑up doors
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
$22,216
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
5.86%
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%
$444,320
$444.3K
Cap Rate 7%
$317,371
$317.4K
Cap Rate 9%
$246,844
$246.8K
Market Conditions
NOI Build-Up for 1,700 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
$30.6K $18.00/SF
− Vacancy
−$979 −$0.58/SF
EGI
$29.6K $17.42/SF
− OpEx
−$7.4K −$4.36/SF
NOI
$22.2K $13.07/SF
Area
Cumberland County, NC
Vacancy
3.20%
Lease Rate
$18.00 /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%
$444,320
Cap Rate 7%
$317,371
Cap Rate 9%
$246,844
Alternative Uses
Best Use
Office B
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 5.86%
Second Best
Industrial
$247.2K
$216.3K – $288.4K
NOI $17,302 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$406.2K
$355.5K – $473.9K
NOI $28,436 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28348, NC
37,476
Population
14,413
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
93%
High-School Grad
42.2 sq mi
ZIP Area
888
Density / Sq Mi
$65,213
Median Household Income
$39,270
Median Earnings
$1,111
Median Rent
$203,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Friends Upscale Catering — 3739 Legion Rd, Hope Mills, NC 28348
Frequently Asked Questions
What type of property is this?
Flex space - Brick improvements combine office, showroom, and roll-up-door workshop space.
Where is this flex space located?
The property is located at 3840 Legion Road Hope Mills, NC.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 3‑acre parcel with approximately 200 feet of frontage on Legion Road; 1,700 SF office and showroom area with six offices and three bathrooms; 1,000‑square‑foot workshop configured with two bays and roll‑up doors
