New Gastonia Warehouse with
For Sale
$450,000
1704 Overman Avenue, Gastonia, NC 28052
New construction warehouse with two-story office space in Gastonia.
Property Size1,932 SF
Price / SF$232.92
Days on Market473
Property Features for 1704 Overman Avenue
General Information
Standard status
Active
Size
1,932 SF
Building Details
Year Built
2025
Listing Agency:
AKIN REALTY LLC
Listed By:
CHRISTINA CHUBACHUK
Source:
Corcoran
Added: May 15, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 AKIN REALTY LLC
Investment Insights
Based on property information with market context.
This new construction warehouse is located in Gastonia. Zoned C3 and situated on a corner lot, the property offers over 1,900 square feet of space. The property is suitable for various business uses. The two-story office space features large windows for natural light, modern finishes, and an open floor plan. It also includes a kitchenette and a spacious conference room. The warehouse provides ceiling heights from 23 to 27 feet, one 12’ x 14’ grade-level door, a separate bathroom, and energy-efficient LED lighting. A fenced concrete side yard offers additional storage or workspace. The corner location allows for expanded parking potential.
Key Highlights
- Brand new construction warehouse with flexible options: Rent to Own or Leasing.
- Located in rapidly growing Gastonia, ideal for business headquarters.
- Zoned C3 corner lot with over 1,900 sq ft and expanded parking potential.
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
$33,883
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
7.53%
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%
$677,660
$677.7K
Cap Rate 7%
$484,043
$484.0K
Cap Rate 9%
$376,478
$376.5K
Market Conditions
NOI Build-Up for 1,932 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
$50.3K $26.04/SF
− Vacancy
−$5.1K −$2.66/SF
EGI
$45.2K $23.38/SF
− OpEx
−$11.3K −$5.85/SF
NOI
$33.9K $17.54/SF
Area
Gaston County, NC
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$677,660
Cap Rate 7%
$484,043
Cap Rate 9%
$376,478
Alternative Uses
Best Use
Office B
$484.0K
$423.5K – $564.7K
NOI $33,883 @ 7.0% cap · market cap 7.53%
Second Best
Warehouse
$200.6K
$175.5K – $234.0K
NOI $14,041 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$608.1K
$532.1K – $709.4K
NOI $42,566 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Under-served
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - New construction warehouse with two-story office space in Gastonia.
Where is this warehouse located?
The property is located at 1704 Overman Avenue Gastonia, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Brand new construction warehouse with flexible options: Rent to Own or Leasing.; Located in rapidly growing Gastonia, ideal for business headquarters.; Zoned C3 corner lot with over 1,900 sq ft and expanded parking potential.
