Industrial Flex Facility with
For Sale
Contact for pricing
1108 9th Avenue NE, Hickory, NC 28601
Fully sprinklered industrial facility with dedicated office space, drive-up and dock-high access, and 12 to 20-foot ceilings.
Property Size10,260 SF
Price / SF$95.03
Days on Market132
Property Features for 1108 9th Avenue NE
General Information
Standard status
Active
Size
10,260 SF
Property subtype
Industrial
Zoning
Industrial
Lease Type
NNN
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Sprinkler System
Yes
Building Details
Tenancy
Single
Listing Agency:
Commercial First
Listed By:
Shana White · License #NC 285523
Source:
Crexi
Added: Apr 27
Changed: Aug 28
Last Checked: Sep 4 at 5:06PM
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.
Now available for sale or lease, this 10,260 sf industrial flex facility is designed to support warehousing, light manufacturing, or logistics operations. The building is fully sprinklered and includes dedicated office space for administrative needs.
The facility provides 12'-20' ceiling heights and offers both a drive-up door and dock-high access to support efficient receiving and shipping workflows. The property is positioned to serve industrial uses, with zoning described as suitable for industrial purposes.
Additional functional layout includes office space alongside the industrial area, creating a configuration intended to accommodate businesses that need both production or storage and on-site work areas.
The facility provides 12'-20' ceiling heights and offers both a drive-up door and dock-high access to support efficient receiving and shipping workflows. The property is positioned to serve industrial uses, with zoning described as suitable for industrial purposes.
Additional functional layout includes office space alongside the industrial area, creating a configuration intended to accommodate businesses that need both production or storage and on-site work areas.
Key Highlights
- 10,260 SF industrial facility available for sale or lease
- Fully sprinklered building designed for warehousing, light manufacturing, or logistics operations
- 12'–20' ceiling heights with dedicated office space
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
$65,349
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
6.70%
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%
$1,306,980
$1.3M
Cap Rate 7%
$933,557
$933.6K
Cap Rate 9%
$726,100
$726.1K
Market Conditions
NOI Build-Up for 10,260 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
$82.5K $8.04/SF
− Vacancy
−$5.6K −$0.55/SF
EGI
$76.9K $7.49/SF
− OpEx
−$11.5K −$1.12/SF
NOI
$65.3K $6.37/SF
Area
Catawba County, NC
Vacancy
6.80%
Lease Rate
$8.04 /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%
$1,306,980
Cap Rate 7%
$933,557
Cap Rate 9%
$726,100
Alternative Uses
Best Use
Flex RnD
$1.49M
$1.31M – $1.74M
NOI $104,549 @ 7.0% cap · market cap 10.72%
Second Best
Warehouse
$933.6K
$816.9K – $1.09M
NOI $65,349 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$3.00M
$2.62M – $3.50M
NOI $209,796 @ 7.0% cap · market cap 21.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28601, NC
53,973
Population
23,400
Households
2.3
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
47.1 sq mi
ZIP Area
1,146
Density / Sq Mi
$67,839
Median Household Income
$41,697
Median Earnings
$951
Median Rent
$236,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- L & L Catering — 12 8th St SE, Hickory, NC 28602
- Living Lean — 12 8th St SE, Hickory, NC 28602
- Aramark — 743 6th St NE, Hickory, NC 28601
Frequently Asked Questions
What type of property is this?
Flex space - Fully sprinklered industrial facility with dedicated office space, drive-up and dock-high access, and 12 to 20-foot ceilings.
Where is this flex space located?
The property is located at 1108 9th Avenue NE Hickory, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 10,260 SF industrial facility available for sale or lease; Fully sprinklered building designed for warehousing, light manufacturing, or logistics operations; 12'–20' ceiling heights with dedicated office space
