Downtown Randleman Industrial/Retail
For Sale
$395,000
116 West Academy Street, Randleman, NC 27317
Industrial/retail space in downtown Randleman with hardwood flooring and 3-phase power.
Property Size8,100 SF
Days on Market214
Property Features for 116 West Academy Street
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Industrial
Zoning
B-1
Building Details
Building Size
8,100 SF
Year Built
1955
Listing Agency:
RE/MAX
Listed By:
H R Gallimore · License #197942
(336) 629-7716
Source:
Remaxcommercial
Added: Mar 31
Changed: Oct 25
Last Checked: Oct 28 at 4:37AM
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 RE/MAX
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property offers industrial and retail space in downtown Randleman. The ground floor features hardwood flooring, an open manufacturing and retail area with a 10-foot pressed tin ceiling, two offices, and one restroom. The lower level is fully finished with an 8-foot ceiling and a concrete floor, and includes one restroom. The roof was replaced in 2019. The building is equipped with 3-phase power, suitable for a variety of industrial and retail applications.
Key Highlights
- Prime downtown Randleman location ideal for industrial or retail use.
- Spacious open area with 10' pressed tin ceiling and hardwood flooring on the ground floor.
- Fully finished lower level with 8' ceiling and concrete floor.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,264
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,280
$645.3K
Cap Rate 7%
$460,914
$460.9K
Cap Rate 9%
$358,489
$358.5K
Market Conditions
NOI Build-Up for 8,100 SF
Gross rent
$49.1K $6.06/SF
− Vacancy
−$3.0K −$0.37/SF
EGI
$46.1K $5.69/SF
− OpEx
−$13.8K −$1.71/SF
NOI
$32.3K $3.98/SF
Area
Randolph County, NC
Vacancy
6.10%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,280
Cap Rate 7%
$460,914
Cap Rate 9%
$358,489
Alternative Uses
Best Use
Industrial
$460.9K
$403.3K – $537.7K
NOI $32,264 @ 7.0% cap · market cap 8.17%
Second Best
Flex RnD
$428.0K
$374.5K – $499.3K
NOI $29,960 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,044 @ 7.0% cap · market cap 49.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27317, NC
17,563
Population
7,276
Households
2.4
Avg Household Size
42
Median Age
15%
College-Educated
82%
High-School Grad
54.1 sq mi
ZIP Area
325
Density / Sq Mi
$57,266
Median Household Income
$34,578
Median Earnings
$793
Median Rent
$170,100
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial/retail space in downtown Randleman with hardwood flooring and 3-phase power.
Where is this flex space located?
The property is located at 116 West Academy Street Randleman, NC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Prime downtown Randleman location ideal for industrial or retail use.; Spacious open area with **10' pressed tin ceiling and hardwood flooring** on the ground floor.; Fully finished lower level with 8' ceiling and concrete floor.
