Freestanding Retail
For Sale
Contact for pricing
128 Waxhaw Pkwy, Waxhaw, NC 28173
CC-zoned retail property in a fully occupied setting near historic downtown Waxhaw.
Property Size8,000 SF
Price / SF$187.50
Days on Market61
Property Features for 128 Waxhaw Pkwy
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Retail
Zoning
CC
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
2003
Buildings
1
Tenancy
Single
Listed By:
Tripp Caldwell · License #352848
Source:
Crexi
Added: Jul 2
Changed: Aug 30
Last Checked: Aug 30 at 8:49AM
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 Tripp Caldwell
Investment Insights
Based on property information with market context.
This freestanding retail building contains 8,000 SF and was constructed in 2003. The property carries CC zoning and is reported at 100% occupancy, providing an established retail configuration for commercial users or owners.
Located at 128 Waxhaw Pkwy in Waxhaw, North Carolina, the building is near the community’s historic downtown and Waxhaw Historic District. Nearby context includes independently oriented shops, restaurants, dining, and entertainment, with access to major roads described as convenient. Emerson Park is also identified among the area’s newer developments, adding to the surrounding community context.
Located at 128 Waxhaw Pkwy in Waxhaw, North Carolina, the building is near the community’s historic downtown and Waxhaw Historic District. Nearby context includes independently oriented shops, restaurants, dining, and entertainment, with access to major roads described as convenient. Emerson Park is also identified among the area’s newer developments, adding to the surrounding community context.
Key Highlights
- 8,000 SF freestanding retail building
- Constructed in 2003
- CC zoning designation
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
$98,213
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
6.55%
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%
$1,964,260
$2.0M
Cap Rate 7%
$1,403,043
$1.4M
Cap Rate 9%
$1,091,256
$1.1M
Market Conditions
NOI Build-Up for 8,000 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
$151.7K $18.96/SF
− Vacancy
−$11.4K −$1.42/SF
EGI
$140.3K $17.54/SF
− OpEx
−$42.1K −$5.26/SF
NOI
$98.2K $12.28/SF
Area
Union County, NC
Vacancy
7.50%
Lease Rate
$18.96 /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%
$1,964,260
Cap Rate 7%
$1,403,043
Cap Rate 9%
$1,091,256
Alternative Uses
Best Use
Retail
$1.40M
$1.23M – $1.64M
NOI $98,213 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,973 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 28173, NC
64,144
Population
20,801
Households
3.1
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
106.3 sq mi
ZIP Area
603
Density / Sq Mi
$146,196
Median Household Income
$59,188
Median Earnings
$1,700
Median Rent
$558,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - CC-zoned retail property in a fully occupied setting near historic downtown Waxhaw.
Where is this retail space located?
The property is located at 128 Waxhaw Pkwy Waxhaw, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,000 SF freestanding retail building; Constructed in 2003; CC zoning designation
