Flex Space with Four Service
For Sale
$699,000
1114 W Franklin Boulevard W, Gastonia, NC 28052
COMMERCIAL - Gastonia, NC
Property Size4,656 SF
Lot Size0.89 Acres
Price / SF$150.13
Days on Market141
Property Features for 1114 W Franklin Boulevard W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UMU
Zoning description
GARG1
Parking features
Parking Lot
Lot features
Cleared, Corner Lot, Level
View
City
Standard status
Active
APN
106167
Lot size
0.89 Acres
Taxes and HOA fees
Tax Description
FIRESTONE COTTON MILLS BLK 1 L 01 039 044 00 000
Legal Description
FIRESTONE COTTON MILLS BLK 1 L 01 039 044 00 000
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Amenities
service bays
Building Details
Year built
1935
Flooring type
Concrete
Building materials
Block, Brick Full
Roof type
Flat
Listing Agency:
Premier South
(704) 829-3518
Listed By:
Norris Lamb · License #286038
(704) 460-4211
Added: Mar 31
Changed: Aug 12
Last Checked: Aug 18 at 1:06PM
MLS# 4359286
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property comprises five lots and two commercial buildings with a combined 4,656 square feet. The buildings measure 1,872 square feet and 2,784 square feet, with four service bays, garage doors ranging from 8 to 11 feet in height, and ceiling heights from 9 to 12 feet. Block and full-brick construction, concrete flooring, flat roofs, window unit cooling, and a parking lot are also in place. The property was built in 1935 and is served by public sewer.
The 0.89-acre assemblage has frontage along W Franklin Boulevard, S Firestone, and S Dalton totaling 567.05 feet. It is within walking distance of the FUSE District and faces the historic Loray Mill complex. The property is zoned UMU and includes five parcels identified by PIDs 106167, 106166, 106170, 106171, and 106165.
The 0.89-acre assemblage has frontage along W Franklin Boulevard, S Firestone, and S Dalton totaling 567.05 feet. It is within walking distance of the FUSE District and faces the historic Loray Mill complex. The property is zoned UMU and includes five parcels identified by PIDs 106167, 106166, 106170, 106171, and 106165.
Key Highlights
- +/-4,656 SF total building area across two commercial buildings
- Four service bays with garage doors ranging from 8'-11' height
- 9'-12' ceiling range within the buildings
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
$30,676
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
4.39%
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%
$613,520
$613.5K
Cap Rate 7%
$438,229
$438.2K
Cap Rate 9%
$340,844
$340.8K
Market Conditions
NOI Build-Up for 4,656 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
$46.4K $9.96/SF
− Vacancy
−$2.6K −$0.55/SF
EGI
$43.8K $9.41/SF
− OpEx
−$13.1K −$2.82/SF
NOI
$30.7K $6.59/SF
Area
Gaston County, NC
Vacancy
5.50%
Lease Rate
$9.96 /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%
$613,520
Cap Rate 7%
$438,229
Cap Rate 9%
$340,844
Alternative Uses
Best Use
Industrial
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 4.39%
Second Best
Flex RnD
$333.4K
$291.7K – $389.0K
NOI $23,337 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,581 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
4
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
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
- ABL Management Inc — 425 Dr M.L.K. Jr. Way, Gastonia, NC 28052
- rhodies food truck — 506 w harrison ave, gastonia, nc 28052
Frequently Asked Questions
What type of property is this?
Flex space - Two commercial buildings provide service-bay functionality, concrete floors, parking, and public sewer service.
Where is this flex space located?
The property is located at 1114 W Franklin Boulevard W Gastonia, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: +/-4,656 SF total building area across two commercial buildings; Four service bays with garage doors ranging from 8'-11' height; 9'-12' ceiling range within the buildings
