Flex Space with
New
For Sale
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100 N CENTENNIAL ST, High Point, NC 27260
Vacant two-level commercial building with loading docks, office areas, and showroom-oriented improvements.
Property Size13,327 SF
Lot Size1.51 Acres
Price / SF$140.39
Days on Market5
Property Features for 100 N CENTENNIAL ST
General Information
Standard status
Active
Size
13,327 SF
Class
B
Lot size
1.51 Acres
Property subtype
Retail, Industrial
Zoning
CB - Central Business
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Asking Price
$1,853,180
Dock-High Doors
2
Amenities
freight elevator
outdoor display pavilion
gazebo
warming kitchen
Building Details
Year Built
1988
Year Renovated
2020
Buildings
1
Stories
2
Units
1
Building Size
13,327 SF
Listing Agency:
DeLille | Field Commercial Real Estate
(336) 442-0744
Listed By:
Alex Field · License #238303
Source:
Crexi
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 5:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DeLille | Field Commercial Real Estate
Investment Insights
Based on property information with market context.
This vacant flex property combines showroom and office functionality within a two-level commercial building on a 1.51-acre corner parcel. The interior includes an open layout, exposed arched roof structure, warming kitchen, offices, four restrooms, and a freight elevator serving both floors. A new roof and HVAC systems address major building components, while the property’s 1999 update provides additional functional context.
Exterior improvements include two platform loading docks, an outdoor display pavilion, gazebo, and on-site parking. The building is positioned at the signalized intersection of N Centennial Street and Fairview Street in High Point’s furniture district, with access from 100 N Centennial Street. It is currently vacant with no lease in place, supporting owner occupancy or redevelopment plans. Zoning is CB - Central Business.
Exterior improvements include two platform loading docks, an outdoor display pavilion, gazebo, and on-site parking. The building is positioned at the signalized intersection of N Centennial Street and Fairview Street in High Point’s furniture district, with access from 100 N Centennial Street. It is currently vacant with no lease in place, supporting owner occupancy or redevelopment plans. Zoning is CB - Central Business.
Key Highlights
- 1.51 +/- acre corner lot at 100 N Centennial Street
- 13,327 +/- SF showroom/office building with two levels
- Two platform loading docks and freight elevator
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
$161,330
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
8.71%
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%
$3,226,600
$3.2M
Cap Rate 7%
$2,304,714
$2.3M
Cap Rate 9%
$1,792,556
$1.8M
Market Conditions
NOI Build-Up for 13,200 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
$237.6K $18.00/SF
− Vacancy
−$7.1K −$0.54/SF
EGI
$230.5K $17.46/SF
− OpEx
−$69.1K −$5.24/SF
NOI
$161.3K $12.22/SF
Area
High Point, NC
Vacancy
3.00%
Lease Rate
$18.00 /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%
$3,226,600
Cap Rate 7%
$2,304,714
Cap Rate 9%
$1,792,556
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,354 @ 7.0% cap · market cap 10.00%
Second Best
Retail
$2.30M
$2.02M – $2.69M
NOI $161,330 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,127 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27260, NC
24,573
Population
11,233
Households
2.2
Avg Household Size
35
Median Age
12%
College-Educated
71%
High-School Grad
12.4 sq mi
ZIP Area
1,982
Density / Sq Mi
$41,817
Median Household Income
$29,008
Median Earnings
$796
Median Rent
$111,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant two-level commercial building with loading docks, office areas, and showroom-oriented improvements.
Where is this flex space located?
The property is located at 100 N CENTENNIAL ST High Point, NC.
What is the asking price?
The asking price for this property is $1,853,180.
What are key features of this property?
This property features: 1.51 +/- acre corner lot at 100 N Centennial Street; 13,327 +/- SF showroom/office building with two levels; Two platform loading docks and freight elevator
