Class A Office Building with
For Sale
Contact for pricing
1105 8th Street Court SE, Hickory, NC 28602
Class A office space with 18+ executive offices, most with exterior windows, plus an oversized conference room.
Property Size10,000 SF
Price / SF$180
Days on Market73
Property Features for 1105 8th Street Court SE
General Information
Standard status
Active
Size
10,000 SF
Class
A
Property subtype
Office, Industrial
Zoning
IND
Listing Agency:
Commercial First
Listed By:
Ryan Lovern · License #NC 196483
(828) 322-8022
Source:
Crexi
Added: Jul 2
Changed: Sep 11
Last Checked: Sep 12 at 3:40AM
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 Commercial First
Investment Insights
Based on property information with market context.
Approximately 10,000 SF of Class A office space located within a professional business park setting. The building features more than 18 executive offices, most with exterior windows, along with an oversized conference room built to accommodate large meetings, training sessions, and group presentations. Additional support staff offices, storage areas, and open workspaces help round out a functional and efficient layout for day-to-day operations.
The property is located less than one-half mile from Highway 70 and Lenoir-Rhyne Boulevard. Quality finishes are noted throughout a well-maintained property.
Overall, the configuration supports both private office use and collaborative meeting space, with storage and support office areas incorporated into the plan.
The property is located less than one-half mile from Highway 70 and Lenoir-Rhyne Boulevard. Quality finishes are noted throughout a well-maintained property.
Overall, the configuration supports both private office use and collaborative meeting space, with storage and support office areas incorporated into the plan.
Key Highlights
- Approximately 10,000 SF of Class A office space in a professional business park
- 18+ executive offices, most with exterior windows
- Oversized conference room designed for large meetings, training sessions, and group presentations
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
$132,030
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
7.34%
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%
$2,640,600
$2.6M
Cap Rate 7%
$1,886,143
$1.9M
Cap Rate 9%
$1,467,000
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$40.0K −$4.00/SF
EGI
$176.0K $17.60/SF
− OpEx
−$44.0K −$4.40/SF
NOI
$132.0K $13.20/SF
Area
Catawba County, NC
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,640,600
Cap Rate 7%
$1,886,143
Cap Rate 9%
$1,467,000
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,030 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,480 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 28602, NC
29,184
Population
12,941
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
87%
High-School Grad
70.7 sq mi
ZIP Area
413
Density / Sq Mi
$56,031
Median Household Income
$36,519
Median Earnings
$830
Median Rent
$180,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Class A office space with 18+ executive offices, most with exterior windows, plus an oversized conference room.
Where is this office building located?
The property is located at 1105 8th Street Court SE Hickory, NC.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 10,000 SF of Class A office space in a professional business park; 18+ executive offices, most with exterior windows; Oversized conference room designed for large meetings, training sessions, and group presentations
