Leased Industrial Warehouse
1242 13th St SW Hickory, NC 28602
For Sale
Contact for pricing
A ±10,000 SF warehouse with a fenced laydown yard and new office upfit is currently leased through April 2031.
Property Size10,000 SF
Lot Size6.05 Acres
Price / SF$137.30
Days on Market184
Property Features for 1242 13th St SW
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Lot size
- 6.05 Acres
- Property subtype
- Industrial
Listing Agency:
Linville Team Partners
(336) 724-1715
Listed By:
Will Jones · License #NC 267204
Source:
Crexi
Added: Jan 21
Changed: Jul 23
Last Checked: Jul 23 at 4:21PM
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 Linville Team Partners
Investment Insights
Based on property information with market context.
This ±10,000 SF industrial warehouse is for sale and is currently leased to Putzmeister America, Inc., a global industrial equipment manufacturer. Recent capital improvements include a new office upfit, a fenced and graded laydown yard, and four new gas warehouse heaters. The lease is an existing NNN structure and is in place through April 2031, with landlord responsibilities limited to roof and structure.
The property sits on ±6.045 acres and is located in Hickory, North Carolina, in close proximity to I-40.
Tenant financial terms include a tenant cover of $10,000 annually before the landlord contributes to any roof cost, along with 3% annual increases.
The property sits on ±6.045 acres and is located in Hickory, North Carolina, in close proximity to I-40.
Tenant financial terms include a tenant cover of $10,000 annually before the landlord contributes to any roof cost, along with 3% annual increases.
Key Highlights
- ±10,000 SF warehouse leased to Putzmeister America, Inc., a global industrial equipment manufacturer
- 6.045 acres with a fenced and graded laydown yard for outside operations
- NNN lease in place through April 2031; landlord responsibilities limited to roof and structure
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 | $80.4k | $8.04 |
| − Vacancy | −$5.5k | −$0.55 |
| EGI | $74.9k | $7.49 |
| − OpEx | −$11.2k | −$1.12 |
| NOI | $63.7k | $6.37 |
10,000 SF · lease $8.04/SF/yr · vacancy 6.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$909.9K
$796.2K – $1.06M
NOI $63,693 @ 7.0% cap · market cap 4.64%
Second Best
Industrial
$749.3K
$655.7K – $874.2K
NOI $52,453 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,480 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Manufacturing properties
Similar Off Market Nearby
- CC Storage Hky — 343 23rd St SW, Hickory, NC 28602
- Catawba Self Storage — 840 14th St Dr SW, Hickory, NC 28602
- AAA Mini Storage - Hickory — 840 14th St Dr SW, Hickory, NC 28602
FAQs
What type of property is this?
Warehouse - A ±10,000 SF warehouse with a fenced laydown yard and new office upfit is currently leased through April 2031.
Where is this warehouse located?
The property is located at 1242 13th St SW Hickory, NC.
What is the asking price?
The asking price for this property is $1,373,000.
What are key features of this property?
This property features: ±10,000 SF warehouse leased to Putzmeister America, Inc., a global industrial equipment manufacturer; 6.045 acres with a fenced and graded laydown yard for outside operations; NNN lease in place through April 2031; landlord responsibilities limited to roof and structure
