Sanford Mixed-Use Development
For Sale
$995,000
1110 Hawkins, Sanford, NC 27330
Versatile Sanford property with commercial and light industrial potential.
Property Size6,000 SF
Lot Size10.50 Acres
Price / SF$165.83
Days on Market252
Property Features for 1110 Hawkins
General Information
Standard status
Active
Size
6,000 SF
Lot size
10.50 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,772
Building Details
Year Built
1984
Listing Agency:
HARRIS REALTY & AUCTION
(919) 742-3286
Listed By:
SCOTT HARRIS · License #159569
Source:
Corcoran
Added: Dec 12, 2025
Changed: Aug 18
Last Checked: Aug 20 at 4:07AM
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 mixed-use property in Sanford, North Carolina, offers commercial and light industrial potential across 10.55 acres. The site includes full utilities, such as water, sewer, and natural gas. Approximately 9.5 acres are zoned L-I, with 3.7 acres within a flood zone, along with a 1.05-acre parcel zoned C-2 and R-12. Located on Hawkins Avenue, a gateway to Historic Downtown Sanford, the property features three commercial buildings constructed between the mid-1980s and 1990s, sized at 4,000 sq ft, 800 sq ft, and 1,200 sq ft respectively. An early 1900s residence, updated in the 1980s, is situated at the entrance, offering 2 bedrooms, 2 bathrooms, and approximately 1,437 sq ft. Previously used as a print shop and silk-screening business, this tract is suitable for redevelopment, expansion, or diversified commercial use.
Key Highlights
- 10.55± acre mixed‑use property with commercial and light industrial potential.
- Zoned L‑I, C‑2, and R‑12, offering diverse development options.
- Located on highly traveled Hawkins Avenue, the gateway to Historic Downtown Sanford.
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
$63,045
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
6.34%
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%
$1,260,900
$1.3M
Cap Rate 7%
$900,643
$900.6K
Cap Rate 9%
$700,500
$700.5K
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
$108.0K $18.00/SF
− Vacancy
−$7.1K −$1.19/SF
EGI
$100.9K $16.81/SF
− OpEx
−$37.8K −$6.30/SF
NOI
$63.0K $10.51/SF
Area
Lee County, NC
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,260,900
Cap Rate 7%
$900,643
Cap Rate 9%
$700,500
Alternative Uses
Best Use
Mixed Use
$900.6K
$788.1K – $1.05M
NOI $63,045 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile Sanford property with commercial and light industrial potential.
Where is this mixed-use property located?
The property is located at 1110 Hawkins 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± acre mixed‑use property with commercial and light industrial potential.; Zoned L‑I, C‑2, and R‑12, offering diverse development options.; Located on highly traveled Hawkins Avenue, the gateway to Historic Downtown Sanford.
