I-40 Visible Industrial
140 Water Tank Road Statesville, NC 28677
140 Water Tank Road, Statesville, NC, 28677
$775,000
For Sale
$775,000
Industrial building with I-40 visibility, suitable for various uses.
Property Size9,000 SF
Price / SF$86.11
Days on Market494
Property Features for 140 Water Tank Road
General Information
- Standard status
- Active
- Size
- 9,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1983
Listing Agency
LAKESHORE REALTY, INC.
(704) 664-3400
Listed by
JON GRIGORIAN · License #131675
Source
Corcoran
Added: Mar 13, 2025 Checked: Jul 19 at 3:32 am
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 LAKESHORE REALTY, INC.
Investment Insights
Based on property information with market context.
This 9,000-square-foot building, zoned industrial (M-1), offers excellent visibility from I-40, located just off the Old Mountain Road exit in Iredell County. Formerly a motorcycle dealership, the property is suitable for a number of uses. The building features two roll-up on-grade doors providing access to the warehouse area. Supplemental propane heaters are installed in the ceiling.
Key Highlights
- High visibility from I‑40.
- Zoned industrial (M‑1).
- Two roll‑up on‑grade doors for warehouse access.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.0k | $9.00 |
| − Vacancy | −$4.1k | −$0.45 |
| EGI | $77.0k | $8.55 |
| − OpEx | −$11.5k | −$1.28 |
| NOI | $65.4k | $7.27 |
9,000 SF · lease $9.00/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,489 @ 7.0% cap · market cap 14.26%
Second Best
Warehouse
$934.4K
$817.6K – $1.09M
NOI $65,408 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,288 @ 7.0% cap · market cap 25.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Clutches Motorcycle & ATV ...
Auto Repair Shop
Melco Fire Caulking, ...
General Contractor
Similar For Sale Nearby
Similar Off Market Nearby
- 4D Storage — 2094 Old Mountain Rd, Statesville, NC 28625
FAQs
What type of property is this?
Warehouse - Industrial building with I-40 visibility, suitable for various uses.
Where is this warehouse located?
The property is located at 140 Water Tank Road Statesville, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: High visibility from I‑40.; Zoned industrial (M‑1).; Two roll‑up on‑grade doors for warehouse access.
