Commercial Building in Maiden
For Sale
$279,500
15 N Carolina Avenue, Maiden, NC 28650
Commercial building with office, garage bays, and high visibility.
Property Size1,600 SF
Price / SF$174.69
Days on Market724
Property Features for 15 N Carolina Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Amenities
Central air
Cleared
Driveway
Heat Pump Cooling
Heat Pump Heating
Insulated Roof
Rubber Roof
Sloped
Building Details
Year Built
1940
Listing Agency:
MARC 1 REALTY
(704) 489-1339
Listed By:
STACEY VIERRA · License #180394
Source:
Corcoran
Added: Aug 28, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:14AM
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 MARC 1 REALTY
Investment Insights
Based on property information with market context.
This 1,600 sqft commercial building is located in the heart of Maiden on Carolina Avenue, offering high visibility. Zoned C-1, the property allows for a variety of business concepts. The building includes an office, two garage bays or storage spaces, and two bathrooms. It also features three roll-up garage doors. Recent improvements include new lot pavement in 2023 and a roof replacement in 2022.
Key Highlights
- High visibility location on Carolina Ave.
- Zoning C‑1 allows for a variety of business concepts.
- 1600 sqft building with office space.
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
$17,461
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
6.25%
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%
$349,220
$349.2K
Cap Rate 7%
$249,443
$249.4K
Cap Rate 9%
$194,011
$194.0K
Market Conditions
NOI Build-Up for 1,600 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
$26.9K $16.80/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$24.9K $15.59/SF
− OpEx
−$7.5K −$4.68/SF
NOI
$17.5K $10.91/SF
Area
Catawba County, NC
Vacancy
7.20%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$349,220
Cap Rate 7%
$249,443
Cap Rate 9%
$194,011
Alternative Uses
Best Use
Retail
$249.4K
$218.3K – $291.0K
NOI $17,461 @ 7.0% cap · market cap 6.25%
Second Best
Industrial
$119.9K
$104.9K – $139.9K
NOI $8,392 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28650, NC
12,982
Population
5,390
Households
2.4
Avg Household Size
43
Median Age
19%
College-Educated
89%
High-School Grad
48.6 sq mi
ZIP Area
267
Density / Sq Mi
$71,784
Median Household Income
$46,810
Median Earnings
$793
Median Rent
$209,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- HEADSTRONG MOTORSPORTS LLC — 15 W Main St, Maiden, NC 28650
- One Stop Tire & Auto — 809 E Main St, Maiden, NC 28650
- Certified Automotive of Maiden — 201 N Carolina Ave, Maiden, NC 28650
- Maiden Auto Specialist — 206 S Main Ave, Maiden, NC 28650
- Maiden Tire And Wheel — 13 N Carolina Ave, Maiden, NC 28650
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with office, garage bays, and high visibility.
Where is this auto shop located?
The property is located at 15 N Carolina Avenue Maiden, NC.
What is the asking price?
The asking price for this property is $279,500.
What are key features of this property?
This property features: High visibility location on Carolina Ave.; Zoning C‑1 allows for a variety of business concepts.; 1600 sqft building with office space.
