Shop Space with Fenced
1028 Washburn Switch Road Shelby, NC 28150
1028 Washburn Switch Road, Shelby, NC, 28150
$399,500
For Sale
$399,500
Versatile shop space with fenced acreage, convenient location, and key features.
Property Size3,800 SF
Price / SF$105.13
Days on Market415
Property Features for 1028 Washburn Switch Road
General Information
- Standard status
- Active
- Size
- 3,800 SF
Building Details
- Year Built
- 1967
Listing agency
POINT 135 REAL ESTATE
Listed by
RUSS PUTNAM
Source
Corcoran
Added: Jun 2, 2025 Updated: Mar 16 at 9:09AM Checked: Mar 16 at 9:09AM
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 POINT 135 REAL ESTATE
Investment Insights
Based on property information with market context.
This versatile property features approximately 3,800 square feet of shop space situated on approximately 1.5 acres of fenced land. The property includes 587 square feet of finished office space with a half bathroom. It has two pull-through bays equipped with four 14-foot high and 12-foot wide doors. One of the garage bays is heated and cooled. Additional features include an office in the garage, a breakroom and storage area above, a dock, and a half bathroom. The property is located close to industry and approximately 2 miles from NC 74.
Key Highlights
- +/- 3,800 sq ft shop space with +/- 1.5 acres fenced.
- Two pull‑through bays with four 14' high x 12' wide doors.
- 587 sq ft of finished office space with a half bathroom.
Local 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 | $57.0k | $15.00 |
| − Vacancy | −$4.0k | −$1.05 |
| EGI | $53.0k | $13.95 |
| − OpEx | −$18.6k | −$4.88 |
| NOI | $34.5k | $9.07 |
3,800 SF · lease $15.00/SF/yr · vacancy 7.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$492.2K
$430.7K – $574.3K
NOI $34,457 @ 7.0% cap · market cap 8.63%
Second Best
Industrial
$329.3K
$288.2K – $384.2K
NOI $23,054 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$965.0K
$844.4K – $1.13M
NOI $67,552 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Panther Ironworks
Industrial Manufacturer
Similar For Sale Nearby
Similar Off Market Nearby
- The Gingerbread Meeting House — 1103 Washburn Switch Rd, Shelby, NC 28150
FAQs
What type of property is this?
Flex space - Versatile shop space with fenced acreage, convenient location, and key features.
Where is this flex space located?
The property is located at 1028 Washburn Switch Road Shelby, NC.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: +/- 3,800 sq ft shop space with +/- 1.5 acres fenced.; Two pull‑through bays with four 14' high x 12' wide doors.; 587 sq ft of finished office space with a half bathroom.
