Flex Space with
For Sale
$550,000
111 Angela Drive, King, NC 27021
Retail showroom space includes warehouse storage and drive-in access.
Property Size3,072 SF
Lot Size0.42 Acres
Price / SF$179.04
Days on Market67
Property Features for 111 Angela Drive
General Information
Standard status
Active
Size
3,072 SF
Lot size
0.42 Acres
Property subtype
Retail
Additional Details
Business Included
Yes
Highway Access
Yes
Drive-In Doors
1
Building Details
Building Size
3,072 SF
Year Built
1990
Listing Agency:
Linville Team Partners
(443) 540-9293
Listed By:
Dom Maggio · License #268640
Source:
Ltpcommercial
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 5:31PM
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 Linville Team Partners
Investment Insights
Based on property information with market context.
This 3,072-square-foot flex property combines retail showroom space with warehouse storage and a drive-in entrance. Built in 1990, the facility includes ample surface parking and is occupied by a swimming pool contractor business, which may also be purchased separately with the real estate.
The property occupies 0.42 acres at 111 Angela Drive in King, North Carolina, with direct access to US-52. It sits in front of Walmart and near McDonald’s, Lowe’s Foods, Exxon, and CVS, placing the building within an established retail setting.
The combination of customer-facing showroom area, back-of-house warehouse space, vehicle access, and on-site parking supports a range of commercial configurations, subject to applicable approvals.
The property occupies 0.42 acres at 111 Angela Drive in King, North Carolina, with direct access to US-52. It sits in front of Walmart and near McDonald’s, Lowe’s Foods, Exxon, and CVS, placing the building within an established retail setting.
The combination of customer-facing showroom area, back-of-house warehouse space, vehicle access, and on-site parking supports a range of commercial configurations, subject to applicable approvals.
Key Highlights
- 3,072 SF of retail showroom and warehouse space
- 0.42‑acre site with ample surface parking
- Drive‑in access for warehouse operations
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
$21,644
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
3.94%
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%
$432,880
$432.9K
Cap Rate 7%
$309,200
$309.2K
Cap Rate 9%
$240,489
$240.5K
Market Conditions
NOI Build-Up for 3,072 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
$27.6K $9.00/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$25.5K $8.29/SF
− OpEx
−$3.8K −$1.24/SF
NOI
$21.6K $7.05/SF
Area
Stokes County, NC
Vacancy
7.90%
Lease Rate
$9.00 /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%
$432,880
Cap Rate 7%
$309,200
Cap Rate 9%
$240,489
Alternative Uses
Best Use
Retail
$4.81M
$4.21M – $5.61M
NOI $336,699 @ 7.0% cap · market cap 61.22%
Second Best
Warehouse
$309.2K
$270.6K – $360.7K
NOI $21,644 @ 7.0% cap · market cap 3.94%
Theoretical Best
Multifamily LT 5
$36.54M
$31.98M – $42.64M
NOI $2,558,121 @ 7.0% cap · market cap 465.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27021, NC
17,345
Population
7,926
Households
2.2
Avg Household Size
46
Median Age
24%
College-Educated
93%
High-School Grad
53.7 sq mi
ZIP Area
323
Density / Sq Mi
$61,736
Median Household Income
$43,041
Median Earnings
$912
Median Rent
$203,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Retail showroom space includes warehouse storage and drive-in access.
Where is this flex space located?
The property is located at 111 Angela Drive King, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,072 SF of retail showroom and warehouse space; 0.42‑acre site with ample surface parking; Drive‑in access for warehouse operations
