Flex Space With Loading
New
For Sale
$599,000
509 E Main Avenue E, Gastonia, NC 28054
Commercial Sale, Gastonia, NC
Property Size10,108 SF
Lot Size0.64 Acres
Price / SF$59.26
Days on Market6
Property Features for 509 E Main Avenue E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
I-U
Zoning description
MANU1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Fencing
Chain Link
Basement
Walk-Out Access, Unfinished, Walk-Up Access
Appliances
Dishwasher
Lot features
Cleared, Level, Sloped
Standard status
Active
APN
105500 105499
Lot size
0.64 Acres
Taxes and HOA fees
Tax Description
AVON MILLS L 6 01 031 024 00 000
Legal Description
AVON MILLS L 6 01 031 024 00 000
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1954
Flooring type
Linoleum, Carpet, Concrete, Tile
Building materials
Block, Brick Full
Roof type
Rubber
Listing Agency:
Premier South
(704) 829-3518
Listed By:
Norris Lamb · License #286038
(704) 460-4211
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 2 at 4:06PM
MLS# 4418985
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 10,108-square-foot flex property combines office, meeting, and warehouse areas within a 1954-built commercial building. The layout includes 9-foot ceilings, two half bathrooms, a kitchen area, and a 10-foot loading dock with an 8-by-8-foot garage door. A newer rubber roof and prior interior improvements are in place, while block and full-brick construction provide the building shell. The property also includes a 0.64-acre side lot that may accommodate parking or future expansion, subject to applicable approvals.
The building is located in downtown Gastonia, one block from US 74 and within reach of I-85, Charlotte Douglas Airport, and the broader Charlotte area. Zoning is I-U. Additional property features include central heating and cooling, public sewer, chain-link fencing, and a mix of concrete, carpet, tile, and linoleum flooring.
The building is located in downtown Gastonia, one block from US 74 and within reach of I-85, Charlotte Douglas Airport, and the broader Charlotte area. Zoning is I-U. Additional property features include central heating and cooling, public sewer, chain-link fencing, and a mix of concrete, carpet, tile, and linoleum flooring.
Key Highlights
- 10,108 SF flex and warehouse building
- 10‑foot loading dock with 8‑by‑8‑foot garage door
- 0.64‑acre side lot included for parking or expansion
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
$50,664
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
8.46%
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%
$1,013,280
$1.0M
Cap Rate 7%
$723,771
$723.8K
Cap Rate 9%
$562,933
$562.9K
Market Conditions
NOI Build-Up for 10,108 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
$84.9K $8.40/SF
− Vacancy
−$7.0K −$0.69/SF
EGI
$77.9K $7.71/SF
− OpEx
−$27.3K −$2.70/SF
NOI
$50.7K $5.01/SF
Area
Gaston County, NC
Vacancy
8.20%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$1,013,280
Cap Rate 7%
$723,771
Cap Rate 9%
$562,933
Alternative Uses
Best Use
Office B
$2.53M
$2.22M – $2.95M
NOI $177,273 @ 7.0% cap · market cap 29.59%
Second Best
Warehouse
$1.05M
$918.3K – $1.22M
NOI $73,460 @ 7.0% cap · market cap 12.26%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,699 @ 7.0% cap · market cap 37.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,362
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- ABL Management Inc — 425 Dr M.L.K. Jr. Way, Gastonia, NC 28052
- rhodies food truck — 506 w harrison ave, gastonia, nc 28052
Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, meeting, and warehouse areas provide adaptable commercial space with a side lot for parking or expansion.
Where is this flex space located?
The property is located at 509 E Main Avenue E Gastonia, NC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 10,108 SF flex and warehouse building; 10‑foot loading dock with 8‑by‑8‑foot garage door; 0.64‑acre side lot included for parking or expansion
