Fully Leased Industrial Flex
For Sale
Contact for pricing
Pending
10420 John Price Rd, Charlotte, NC 28273
New industrial flex property with immediate cash flow potential.
Property Size61,517 SF
Days on Market179
Property Features for 10420 John Price Rd
General Information
Standard status
Pending
Size
61,517 SF
Class
A
Property subtype
Industrial
Zoning
ML-1
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2023
Buildings
3
Tenancy
Multi
Listing Agency:
One Alliance Companies
(704) 618-6234
Listed By:
Leah Parker · License #NC
Source:
Crexi
Added: Feb 23
Changed: Aug 14
Last Checked: Jul 25 at 6:18AM
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 One Alliance Companies
Investment Insights
Based on property information with market context.
This fully leased industrial flex property offers an investment opportunity with immediate cash flow and long-term upside. The property consists of three separate buildings with suite sizes ranging from approximately 1,857 square feet to 24,909 square feet, accommodating a diverse mix of tenants and providing flexibility for future leasing strategies. Each building offers a 24-foot clear height throughout, delivering efficient warehouse operations and enhanced tenant appeal. A combination of drive-in and dock-high loading doors, along with full truck courts, supports a wide range of uses including distribution, light manufacturing, and service-oriented operations. All buildings are fully sprinklered. The property is strategically located within one mile of Westinghouse Boulevard, one of North Carolina’s largest and most established industrial corridors, and benefits from exceptional regional connectivity with convenient access to I-77 and I-485. The current 2.94-year weighted average lease term (WALT) provides stabilized in-place income while offering near-term rollover potential, creating opportunities for future rent growth and value enhancement. The property size is 61517 square feet.
Key Highlights
- Brand new, fully leased industrial flex property providing immediate cash flow.
- Strategically located within one mile of Westinghouse Boulevard, offering exceptional regional connectivity with convenient access to I‑77 and I‑485.
- Three separate buildings with flexible suite sizes accommodating a diverse mix of tenants.
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
$669,366
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
3.72%
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%
$13,387,320
$13.4M
Cap Rate 7%
$9,562,371
$9.6M
Cap Rate 9%
$7,437,400
$7.4M
Market Conditions
NOI Build-Up for 61,517 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
$1.11M $18.00/SF
− Vacancy
−$77.5K −$1.26/SF
EGI
$1.03M $16.74/SF
− OpEx
−$360.4K −$5.86/SF
NOI
$669.4K $10.88/SF
Area
Charlotte, NC
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$13,387,320
Cap Rate 7%
$9,562,371
Cap Rate 9%
$7,437,400
Alternative Uses
Best Use
Flex RnD
$9.56M
$8.37M – $11.16M
NOI $669,366 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$8.97M
$7.85M – $10.47M
NOI $628,101 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$20.49M
$17.92M – $23.90M
NOI $1,433,970 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28273, NC
41,404
Population
19,236
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
90%
High-School Grad
22.5 sq mi
ZIP Area
1,840
Density / Sq Mi
$84,739
Median Household Income
$45,193
Median Earnings
$1,671
Median Rent
$304,900
Median Home Value
Market
Vacancy Rate% for Industrial in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New industrial flex property with immediate cash flow potential.
Where is this flex space located?
The property is located at 10420 John Price Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: Brand new, fully leased industrial flex property providing immediate cash flow.; Strategically located within one mile of Westinghouse Boulevard, offering exceptional regional connectivity with convenient access to I‑77 and I‑485.; Three separate buildings with flexible suite sizes accommodating a diverse mix of tenants.
