Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    602 Garnett St Henderson, NC 27536

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $699,000

    Large building, flexible lease options.

    Property size:
    32,000 SF

    Property Features for 602 Garnett St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    32,000 SF
    Lot Size
    54,886 SF

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    Donald Ray Matthews

    Listing Agency: Brassfield Realty Listing Agent: Donald Ray Matthews

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This expansive mixed-use property, located at 602 S Garnett Street in Henderson, North Carolina, offers a substantial 32,000 square feet of space ideally suited for a variety of business needs. The building sits on a generous 1.26-acre lot, providing ample room for expansion or outdoor operations. Currently configured as a blend of office and warehouse space, this property presents a unique opportunity for businesses requiring significant square footage. The versatile layout allows for customization to suit individual requirements, making it an excellent choice for companies seeking to consolidate operations or expand into a larger facility. The seller is open to considering lease options for smaller portions of the building, offering flexibility for businesses of varying sizes. This presents a rare chance to secure a substantial commercial property in a desirable location, with the added benefit of adaptable lease terms to accommodate specific business needs. The asking price for this substantial property is $699,000. Serious inquiries are encouraged to explore this exceptional opportunity. The property's size and location make it an attractive investment for businesses seeking to establish a strong presence in the Henderson, NC market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.4078
    Latitude
    36.32426

    Nearby Similar for Sale

    • $229,000
      Pending

      Kerr Lake Waterfront Land Parcel

      12.3-acre waterfront land with private dock permit on Kerr Lake.
      1311 Plum Nutty Rd, Henderson, NC 27537
      View Details
    • $99,900
      3,212 SF

      Henderson Duplex Renovation Opportunity

      Duplex in Henderson, NC, ideal for experienced investors.
      169 Burwell Ave, Henderson, NC 27536
      View Details
    • $164,900
      Pending

      Income-Producing Duplex in Henderson, NC

      Fully leased duplex with immediate cash flow and growth potential.
      228 Crozier St, Henderson, NC 27536
      View Details
    • $179,900
      1,344 SF

      Income-Producing Duplex in Henderson, NC

      Well-maintained duplex with strong cap rate and upside potential.
      500 Zene St, Henderson, NC 27536
      View Details
    • $205,000
      1,365 SF

      Henderson Duplex with Strong Cashflow

      Duplex in Henderson, NC with updated features and strong rental income.
      691-693 Boddie St, Henderson, NC 27536
      View Details
    • $65,350
      488 SF

      Henderson Multifamily Investment Opportunity

      Cash-flowing residential portfolio in Henderson, North Carolina.
      650 Marshall St, Henderson, NC 27536
      View Details
    • $92,700
      484 SF

      Henderson Multifamily Investment Opportunity

      Cash-flowing residential portfolio in Henderson, North Carolina.
      646 Marshall St, Henderson, NC 27536
      View Details
    • $93,800
      504 SF

      Residential Income Property For Sale

      Cash-flowing residential portfolio in Henderson, NC with long-term tenants.
      631 Marshall St, Henderson, NC 27536
      View Details
    • $68,500
      504 SF

      Marshall Street Multifamily Investment Opportunity

      Cash-flowing residential portfolio in Henderson, North Carolina.
      621 Marshall St, Henderson, NC 27536
      View Details
    • $345,000
      3,510 SF

      Investment Portfolio: Three Duplexes

      Six rental units in Henderson, NC, with immediate income.
      Henderson, NC 27536
      View Details
    • $650,000
      2,644 SF

      Kerr Lake Farmhouse with Acreage

      Charming farmhouse on 5.81 acres with Kerr Lake access.
      675 Anderson Creek Rd, Henderson, NC 27537
      View Details
    • $215,000
      1,365 SF

      Henderson Duplex with Recent Upgrades

      Duplex with new roof and updated interiors, great for investors.
      691-693 Boddie St, Henderson, NC 27536
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Large building, flexible lease options.
    Where is this mixed-use property located?
    The property is located at 602 Garnett St Henderson, NC.
    What is the asking price?
    The asking price for this property is $699,000.
    (919) 494-4040
    Request Owner's contact information
    602 Garnett St Henderson, NC 27536
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 Garnett St
    Henderson, NC 27536
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    602 Garnett St Henderson, NC 27536
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Donald Ray Matthews
    Real Estate License ID: 302082
    (919) 494-4040 (252) 915-9346
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!