Light Industrial and Retail
For Sale
$995,000
1110 Hawkins Avenue, Sanford, NC 27330
Three commercial buildings plus a renovated early-1900s residence sit on over 10 acres with water, sewer, and natural gas.
Property Size6,000 SF
Lot Size10.55 Acres
Price / SF$165.83
Days on Market260
Property Features for 1110 Hawkins Avenue
General Information
Standard status
Active
Size
6,000 SF
Lot size
10.55 Acres
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,772
Amenities
3
20 Parking Spaces.
See Deed Descriptions
Building Details
Year Built
1984
Listing Agency:
Harris Realty & Auction
(919) 498-4077
Listed By:
Scott Harris · License #159569
(919) 498-4077
Source:
Xome
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 12 at 4:28AM
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 Harris Realty & Auction
Investment Insights
Based on property information with market context.
This Sanford mixed-use tract includes three commercial buildings totaling 6,000 square feet, constructed between the mid-1980s and 1990s, along with an early 1900s residence updated in the 1980s. The residence offers 2 bedrooms, 2 bathrooms, and approximately 1,437 square feet, and was previously used as a print shop and silk-screening business.
The property features full utilities, including water, sewer, and natural gas. Strategically positioned on Hawkins Avenue, the highly traveled gateway into Historic Downtown Sanford, the site totals 10.55± acres, with approximately 9.5± acres zoned L-I–3.7 and 1.05± acres zoned C-2 and R-12. Approximately 3.7± acres of the L-I zoned portion lie within the flood zone.
The available configuration supports redevelopment, expansion, or diversified commercial use across the existing improvements and mixed zoning.
The property features full utilities, including water, sewer, and natural gas. Strategically positioned on Hawkins Avenue, the highly traveled gateway into Historic Downtown Sanford, the site totals 10.55± acres, with approximately 9.5± acres zoned L-I–3.7 and 1.05± acres zoned C-2 and R-12. Approximately 3.7± acres of the L-I zoned portion lie within the flood zone.
The available configuration supports redevelopment, expansion, or diversified commercial use across the existing improvements and mixed zoning.
Key Highlights
- 10.55± acres in Sanford NC with water, sewer, and natural gas available (full utilities).
- Three commercial buildings totaling 6,000 sq ft: 4,000 sq ft, 800 sq ft, and 1,200 sq ft.
- Zoning includes L‑I, C‑2, and R‑12, with approximately 9.5± acres zoned L‑I and 1.05± acres zoned C‑2 and R‑12.
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
$71,107
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
7.15%
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%
$1,422,140
$1.4M
Cap Rate 7%
$1,015,814
$1.0M
Cap Rate 9%
$790,078
$790.1K
Market Conditions
NOI Build-Up for 6,000 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
$104.4K $17.40/SF
− Vacancy
−$2.8K −$0.47/SF
EGI
$101.6K $16.93/SF
− OpEx
−$30.5K −$5.08/SF
NOI
$71.1K $11.85/SF
Area
Lee County, NC
Vacancy
2.70%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,422,140
Cap Rate 7%
$1,015,814
Cap Rate 9%
$790,078
Alternative Uses
Best Use
Retail
$1.02M
$888.8K – $1.19M
NOI $71,107 @ 7.0% cap · market cap 7.15%
Second Best
Industrial
$454.5K
$397.7K – $530.3K
NOI $31,817 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,125 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Asadito — 1614 Hawkins Ave, Sanford, NC 27330
Frequently Asked Questions
What type of property is this?
Flex space - Three commercial buildings plus a renovated early-1900s residence sit on over 10 acres with water, sewer, and natural gas.
Where is this flex space located?
The property is located at 1110 Hawkins Avenue Sanford, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 10.55± acres in Sanford NC with water, sewer, and natural gas available (full utilities).; Three commercial buildings totaling 6,000 sq ft: 4,000 sq ft, 800 sq ft, and 1,200 sq ft.; Zoning includes L‑I, C‑2, and R‑12, with approximately 9.5± acres zoned L‑I and 1.05± acres zoned C‑2 and R‑12.
