Flex Warehouse with Truck
For Sale
$7,626,000
1021 Classic Rd, Apex, NC 27539
Renovated flex facility with warehouse, production, office/showroom space and a fenced truck court for fleet and outdoor storage.
Property Size24,600 SF
Price / SF$310
Days on Market93
Property Features for 1021 Classic Rd
General Information
Standard status
Active
Size
24,600 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
19 ft
Dock-High Doors
2
Drive-In Doors
1
Heavy Power
Yes
Sprinkler System
Yes
Building Details
Building Size
24,600 SF
Year Built
1999
Year Renovated
2019
Listed By:
Will Sossaman
(919) 632-6953
Source:
Lee-associates
Added: Jul 23
Changed: Oct 9
Last Checked: Oct 23 at 4:27AM
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 Will Sossaman
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Investment Insights
Based on property information with market context.
This renovated flex facility includes approximately 16,000 SF of warehouse space, 4,000 SF of production space with open ceilings and power drops, and 4,600 SF of modern office/showroom space. The fully conditioned building features 19' clear heights, heavy 3-phase 1,000-amp power, LED lighting, and an ESFR sprinkler system. Loading is flexible with two oversized dock-high doors, one oversized drive-in door, and a covered loading area.
A key feature is an approximately 10.50-acre fenced truck court and outdoor storage area, supporting fleet parking and outdoor storage for equipment or materials. The property is located in Apex, NC, with convenient access to major regional routes including I-540, I-40, RDU Airport, and Research Triangle Park.
Overall, the building is designed to support a range of industrial and logistics operations with a mix of warehouse, production, and office/showroom space, plus substantial outdoor and loading capacity.
A key feature is an approximately 10.50-acre fenced truck court and outdoor storage area, supporting fleet parking and outdoor storage for equipment or materials. The property is located in Apex, NC, with convenient access to major regional routes including I-540, I-40, RDU Airport, and Research Triangle Park.
Overall, the building is designed to support a range of industrial and logistics operations with a mix of warehouse, production, and office/showroom space, plus substantial outdoor and loading capacity.
Key Highlights
- Approximately 24,600 SF flex facility built in 1999, with 16,000 SF warehouse, 4,000 SF production, and 4,600 SF office/showroom
- 2019 renovation; fully conditioned building with 19' clear heights and open ceilings in the 4,000 SF production space
- Heavy 3‑phase 1,000‑amp power plus LED lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$262,924
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,258,480
$5.3M
Cap Rate 7%
$3,756,057
$3.8M
Cap Rate 9%
$2,921,378
$2.9M
Market Conditions
NOI Build-Up for 24,600 SF
Gross rent
$428.0K $17.40/SF
− Vacancy
−$23.5K −$0.96/SF
EGI
$404.5K $16.44/SF
− OpEx
−$141.6K −$5.76/SF
NOI
$262.9K $10.69/SF
Area
Wake County, NC
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,258,480
Cap Rate 7%
$3,756,057
Cap Rate 9%
$2,921,378
Alternative Uses
Best Use
Flex RnD
$3.76M
$3.29M – $4.38M
NOI $262,924 @ 7.0% cap · market cap 3.45%
Second Best
Warehouse
$2.73M
$2.39M – $3.19M
NOI $191,187 @ 7.0% cap · market cap 2.51%
Theoretical Best
Specialty Retail
$7.02M
$6.15M – $8.19M
NOI $491,674 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27539, NC
26,326
Population
9,096
Households
2.9
Avg Household Size
37
Median Age
62%
College-Educated
95%
High-School Grad
31.0 sq mi
ZIP Area
849
Density / Sq Mi
$140,121
Median Household Income
$64,465
Median Earnings
$1,781
Median Rent
$494,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex facility with warehouse, production, office/showroom space and a fenced truck court for fleet and outdoor storage.
Where is this flex space located?
The property is located at 1021 Classic Rd Apex, NC.
What is the asking price?
The asking price for this property is $7,626,000.
What are key features of this property?
This property features: Approximately 24,600 SF flex facility built in 1999, with 16,000 SF warehouse, 4,000 SF production, and 4,600 SF office/showroom; 2019 renovation; fully conditioned building with 19' clear heights and open ceilings in the 4,000 SF production space; Heavy 3‑phase 1,000‑amp power plus LED lighting
