Multi-Tenant Industrial
For Sale
$2,600,000
1032 Central Drive NW, Concord, NC 28027
Stabilized industrial property with three in-place tenants and 100% occupancy on a small acreage site.
Property Size19,981 SF
Days on Market88
Property Features for 1032 Central Drive NW
General Information
Standard status
Active
Size
19,981 SF
Property subtype
Industrial
Amenities
Chain Link, Fenced, Full
Additional parcels description:, Parcel Number: 56119722140000, Assessed Value: $1.12207e+06
Listing ID: CAR4402934, Standard Status: Active, MLS Status: Active, Property Subtype: Industrial, 3 days on market, Special Conditions: None
Built in 1998, 1 building
County/Parish: Cabarrus
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete, Paved
Building Details
Building Size
19,981 SF
Year Built
1998
Listing Agency:
Century 21 Providence Realty
(704) 847-2144
Listed By:
Pat Flanagan
(704) 916-9552
Source:
Blackstreaminternational
Added: Jul 10
Changed: Oct 4
Last Checked: Oct 4 at 10:33AM
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 Century 21 Providence Realty
Investment Insights
Based on property information with market context.
This stabilized, multi-tenant industrial investment offers approximately 15,980 square feet on ±1.15 acres and is 100% occupied by three established tenants. The property is being marketed based on approximately $159,745 Proforma annual Net Operating Income (NOI), providing in-place cash flow.
The asset is located at 1032 Central Drive NW in Concord, North Carolina, and is described as being just minutes from Interstate 85. That location is intended to provide connectivity to Charlotte, Concord, Kannapolis, and surrounding industrial markets, supporting access to regional distribution networks.
With a diversified in-place tenant mix, the property is presented as an income-focused industrial option positioned within one of Cabarrus County’s established industrial corridors.
The asset is located at 1032 Central Drive NW in Concord, North Carolina, and is described as being just minutes from Interstate 85. That location is intended to provide connectivity to Charlotte, Concord, Kannapolis, and surrounding industrial markets, supporting access to regional distribution networks.
With a diversified in-place tenant mix, the property is presented as an income-focused industrial option positioned within one of Cabarrus County’s established industrial corridors.
Key Highlights
- 100% occupied multi‑tenant industrial property with three established in‑place tenants
- Approximately 15,980 SF on ±1.15 acres
- 1998 construction year
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
$238,698
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
9.18%
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%
$4,773,960
$4.8M
Cap Rate 7%
$3,409,971
$3.4M
Cap Rate 9%
$2,652,200
$2.7M
Market Conditions
NOI Build-Up for 19,981 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
$292.5K $14.64/SF
− Vacancy
−$11.7K −$0.59/SF
EGI
$280.8K $14.05/SF
− OpEx
−$42.1K −$2.11/SF
NOI
$238.7K $11.95/SF
Area
Concord, NC
Vacancy
4.00%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
15.00%
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%
$4,773,960
Cap Rate 7%
$3,409,971
Cap Rate 9%
$2,652,200
Alternative Uses
Best Use
Warehouse
$3.41M
$2.98M – $3.98M
NOI $238,698 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.44M
$4.76M – $6.35M
NOI $381,148 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28027, NC
76,478
Population
31,450
Households
2.4
Avg Household Size
36
Median Age
43%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
1,108
Density / Sq Mi
$89,101
Median Household Income
$48,976
Median Earnings
$1,433
Median Rent
$341,900
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Stabilized industrial property with three in-place tenants and 100% occupancy on a small acreage site.
Where is this warehouse located?
The property is located at 1032 Central Drive NW Concord, NC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 100% occupied multi‑tenant industrial property with three established in‑place tenants; Approximately 15,980 SF on ±1.15 acres; 1998 construction year
