Flex Warehouse with Truck
1021 Classic Road Apex, NC 27539
New
For Sale
Contact for pricing
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 Market5
Property Features for 1021 Classic Road
General Information
- Standard status
- Active
- Size
- 24,600 SF
- Property subtype
- Office, Industrial
Building Details
- Year Built
- 1999
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
Will Sossaman · License #331979
Source:
Crexi
Added: Jul 21
Changed: Jul 24
Last Checked: Jul 24 at 10:27AM
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 Lee & Associates - Raleigh Durham
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 For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $428.0k | $17.40 |
| − Vacancy | −$23.5k | −$0.96 |
| EGI | $404.5k | $16.44 |
| − OpEx | −$141.6k | −$5.76 |
| NOI | $262.9k | $10.69 |
24,600 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 35.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Stitch Golf
Corporate Office
FAQs
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 Road 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
