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    Fremont Industrial Building For Sale Title is generated by Realmo AI

    701 S Wilson St, Fremont, NC

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    58,539 SF industrial building on 20.17 acres near Raleigh.

    Type:INDUSTRIAL
    Property size:
    58,830 SF
    Lot size:
    10.79 Acres
    Price / SF:
    $47/SF
    Added:
    Jul 17, 2024
    Days on Market:
    668
    Last Refresh:
    Apr 5 at 8:04 pm

    Property Features for 701 S Wilson St

    General Information

    Standard status
    Active
    Size
    58,830 SF
    Lot size
    10.79 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Martin Tanski
    Martin Tanski

    Listing agent Martin Tanski License #NC 300956

    Listing office The Overton Group

    Listing date Jul 17, 2024

    Source Moodyscre

    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 The Overton Group

    HighLights

    • Significant recent capital improvements totaling over $1.1MM.
    • Large 58,539 SF light industrial building on 11 acres, with 20.17 acres available.
    • Fully air‑conditioned building with 145.5 tons of cooling.
    • Adequate power supply with a 2,800 AMP electrical system.
    • Fully sprinkled building with a 100% wet sprinkler system.
    • Located within 55 minutes of Raleigh.

    Overview

    This light industrial building, suitable for sale or lease, is located approximately 55 minutes from Raleigh. The 58,539 square foot building is situated on an 11-acre tract, with additional land available for a laydown yard. The building features a clear ceiling height of 16 to 17 feet and 40' x 40' column spacing. It is constructed on a 5-inch monolithic slab concrete foundation. The property consists of four parcels totaling 20.17 acres, with approximately 13 acres being contiguous. The building is fully equipped with a sprinkler system, featuring two risers, and is supplied with adequate power from Progress Energy. The plant's electrical system includes a 2,800 AMP, 480/277 volt, 3 phase, 4 wire switchgear, along with three 500 KVA transformers. The building is fully air-conditioned, utilizing 145.5 tons of roof-mounted heat pump units. The sprinkler system is a 100% wet system, with 6-inch risers fed by an 8-inch fire line connected directly to a nearby city elevated tank. The roof is comprised of an un-ballasted rubber membrane, with the eastern section recovered in 2003 and the western section recovered in 1991. The joints were resealed in 2002, and water evacuation from the roof was improved. A new standing seam metal roof was installed on the office in 2014, and new EPMD roof upgrades were completed between 2021 and 2023. The entire roof has been on a preventative maintenance program since 2004. Recent updates and improvements include electrical upgrades such as a new main disconnect, new transformers, new wiring throughout the plant, and new LED lighting. Plumbing repairs have been completed throughout the plant. Building maintenance includes a new EPDM roof coating in 2021 & 2023, new downspouts in the rear of the building, clean rooms, office and breakroom buildout, lab remediation, fire system upgrade, painting, bay door and door repair, and emergency lighting. HVAC improvements include a new 15-ton unit and HVAC repair. Telecommunications upgrades include internet upgrades, repeaters throughout the plant, and CAT 6 cables.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $5.08M
    NOI $457,217 @ 9.00% cap · cautious / downside scenario
    Moderate
    $6.53M
    NOI $457,217 @ 7.00% cap · market / base-case scenario
    Aggressive
    $9.14M
    NOI $457,217 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $578.9k $9.84
    − Vacancy −$41.0k −$0.70
    EGI $537.9k $9.14
    − OpEx −$80.7k −$1.37
    NOI $457.2k $7.77
    58,830 SF · lease $9.84/SF/yr · vacancy 7.08% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $6.53M
    $5.72M – $7.62M (±1% cap)
    NOI $457,217 @ 7.0% cap · market cap 16.52%
    Second Best
    Industrial
    $3.75M
    $3.28M – $4.38M (±1% cap)
    NOI $262,524 @ 7.0% cap · market cap 9.48%
    Theoretical Best
    Specialty Retail
    $47.30M
    $41.39M – $55.18M (±1% cap)
    NOI $3,310,818 @ 7.0% cap · market cap 119.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sanctuary Systems Industrial Manufacturer

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Auto Repair Shop Pharmacy Auto Parts Store Department Store Skin Care Clinic Kitchen & Bath Showroom Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fremont
    County
    Wayne
    State
    North Carolina
    Longitude
    -77.973609
    Latitude
    35.55149

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    FAQs

    What type of property is this?
    Manufacturing property - 58,539 SF industrial building on 20.17 acres near Raleigh.
    Where is this manufacturing property located?
    The property is located at 701 S Wilson St Fremont, NC.
    What is the asking price?
    The asking price for this property is $2,768,470.
    What are key features of this property?
    This property features: Significant recent capital improvements totaling over $1.1MM.; Large 58,539 SF light industrial building on 11 acres, with 20.17 acres available.; **Fully air‑conditioned building** with 145.5 tons of cooling.
    (919) 368-2868 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Martin Tanski
    Martin Tanski
    Real Estate License ID: NC 300956
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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