Heavy Industrial Manufacturing
For Sale
$2,400,000
315 E Kerr Street, Salisbury, NC 28144
Tilt-up industrial building offers secure storage, conditioned office area, and double dock platform with levelers.
Property Size31,976 SF
Days on Market49
Property Features for 315 E Kerr Street
General Information
Standard status
Active
Size
31,976 SF
Property subtype
Industrial
Building Details
Building Size
31,976 SF
Year Built
1992
Listing Agency:
Linville Team Partners
(857) 204-8326
Listed By:
Cali Rich · License #330965
Source:
Ltpcommercial
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 11 at 5:19AM
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 Heavy Industrial facility includes a tilt-up concrete warehouse constructed in 1992 with a dry sprinkler system and approximately 22’+ clear height. The property is configured with about 1,300 SF of conditioned space that includes office and two restrooms, plus about 1,100 SF of secure storage. Operations are supported by a covered and lit double dock platform with levelers and two drive-in doors measuring 18’ x 13’6” and 12’ x 11’6”.
The site provides secure parking and convenient highway access, located about 0.8 miles from I-85. The property is centrally located in the North Carolina core, and it abuts a railroad.
The industrial building is zoned for Heavy Industrial and is described as suitable for manufacturing or flex space use.
The site provides secure parking and convenient highway access, located about 0.8 miles from I-85. The property is centrally located in the North Carolina core, and it abuts a railroad.
The industrial building is zoned for Heavy Industrial and is described as suitable for manufacturing or flex space use.
Key Highlights
- Tilt‑up concrete industrial building constructed in 1992; approximately 31,976 SF industrial space
- Approximately 1,300 SF conditioned space with about 1,100 SF secure storage plus office and two restrooms
- Covered, lit double dock platform with levelers and drive‑in doors sized 18’ x 13’6” and 12’ x 11’6”
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
$194,793
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
8.12%
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%
$3,895,860
$3.9M
Cap Rate 7%
$2,782,757
$2.8M
Cap Rate 9%
$2,164,367
$2.2M
Market Conditions
NOI Build-Up for 31,976 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
$303.1K $9.48/SF
− Vacancy
−$24.9K −$0.78/SF
EGI
$278.3K $8.70/SF
− OpEx
−$83.5K −$2.61/SF
NOI
$194.8K $6.09/SF
Area
Rowan County, NC
Vacancy
8.20%
Lease Rate
$9.48 /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%
$3,895,860
Cap Rate 7%
$2,782,757
Cap Rate 9%
$2,164,367
Alternative Uses
Best Use
Warehouse
$3.38M
$2.96M – $3.94M
NOI $236,534 @ 7.0% cap · market cap 9.86%
Second Best
Industrial
$2.78M
$2.43M – $3.25M
NOI $194,793 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$10.06M
$8.81M – $11.74M
NOI $704,495 @ 7.0% cap · market cap 29.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28144, NC
26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Graze Catering & Events — 127 N Main St Suite B, Salisbury, NC 28144
- Alison's Catering & Affordable — 218 Mocksville Ave, Salisbury, NC 28144
Frequently Asked Questions
What type of property is this?
Flex space - Tilt-up industrial building offers secure storage, conditioned office area, and double dock platform with levelers.
Where is this flex space located?
The property is located at 315 E Kerr Street Salisbury, NC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Tilt‑up concrete industrial building constructed in 1992; approximately 31,976 SF industrial space; Approximately 1,300 SF conditioned space with about 1,100 SF secure storage plus office and two restrooms; Covered, lit double dock platform with levelers and drive‑in doors sized 18’ x 13’6” and 12’ x 11’6”
