Warehouse with Covered Loading
For Sale
$1,099,900
12087 Joe Brown Hwy S, Tabor City, NC 28463
Commercial warehouse property with office space, storage containers, equipment, and three-phase electrical service.
Property Size7,200 SF
Lot Size4.22 Acres
Price / SF$152.76
Days on Market41
Property Features for 12087 Joe Brown Hwy S
General Information
Standard status
Active
Size
7,200 SF
Lot size
4.22 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
6,000 SF
Office Build-Out
1,200 SF
Dock-High Doors
2
Three-Phase Power
Yes
Additional Details
Furnished
Yes
Amenities
Break Room Appliances
Video Surveillance Security System
Building Details
Year Built
1992
Listing Agency:
CENTURY 21 Thomas Incorporated DBA Thomas Real Estate, LLC
(843) 273-3001
Listed By:
David C Hyatt · License #273044
Source:
Barefootbrokers
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:04AM
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 CENTURY 21 Thomas Incorporated DBA Thomas Real Estate, LLC
Investment Insights
Based on property information with market context.
This warehouse property sits on 4.22 acres and was built in 1992. The improvements include office and warehouse areas, a covered loading dock, two loading docks, and 12-foot roll-up doors. Building systems have been well maintained, and the property includes warehouse racks, pallet jacks, a forklift, office furniture, and break room appliances.
The property is located at the intersection of Hwy 701 and Hwy 410/Joe Brown Hwy in Tabor City, with access to Whiteville, Lumberton, Shallotte, Wilmington, Loris, Conway, Florence, and North Myrtle Beach. Additional features include 13 40-foot storage shipping containers, a three-phase electrical panel, and a video surveillance security system.
The property is located at the intersection of Hwy 701 and Hwy 410/Joe Brown Hwy in Tabor City, with access to Whiteville, Lumberton, Shallotte, Wilmington, Loris, Conway, Florence, and North Myrtle Beach. Additional features include 13 40-foot storage shipping containers, a three-phase electrical panel, and a video surveillance security system.
Key Highlights
- 4.22‑acre warehouse property in Tabor City
- 800 sqft covered loading dock with 2 loading docks
- 12' roll‑up doors for warehouse access
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
$90,279
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
8.21%
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%
$1,805,580
$1.8M
Cap Rate 7%
$1,289,700
$1.3M
Cap Rate 9%
$1,003,100
$1.0M
Market Conditions
NOI Build-Up for 7,200 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
$155.5K $21.60/SF
− Vacancy
−$35.1K −$4.88/SF
EGI
$120.4K $16.72/SF
− OpEx
−$30.1K −$4.18/SF
NOI
$90.3K $12.54/SF
Area
Columbus County, NC
Vacancy
22.60%
Lease Rate
$21.60 /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%
$1,805,580
Cap Rate 7%
$1,289,700
Cap Rate 9%
$1,003,100
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,279 @ 7.0% cap · market cap 8.21%
Second Best
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,471 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,259 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28463, NC
8,494
Population
3,063
Households
2.8
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
112.9 sq mi
ZIP Area
75
Density / Sq Mi
$38,671
Median Household Income
$34,375
Median Earnings
$673
Median Rent
$120,000
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 - Commercial warehouse property with office space, storage containers, equipment, and three-phase electrical service.
Where is this warehouse located?
The property is located at 12087 Joe Brown Hwy S Tabor City, NC.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: 4.22‑acre warehouse property in Tabor City; 800 sqft covered loading dock with 2 loading docks; 12' roll‑up doors for warehouse access
