Warehouse with Six Dock-High
For Sale
Contact for pricing
2900 Stitt St, Monroe, NC 28110
Proposed warehouse with six dock-high doors and one grade-level drive-in door with easy access to Hwy 74.
Property Size60,000 SF
Price / SF$125
Days on Market550
Property Features for 2900 Stitt St
General Information
Standard status
Active
Size
60,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Ty-Par Realty
(704) 361-3650
Listed By:
Christa Tyson
(704) 361-3650
Source:
Moodyscre
Added: Feb 17, 2025
Changed: Aug 19
Last Checked: Aug 20 at 12:21PM
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 Ty-Par Realty
Investment Insights
Based on property information with market context.
Proposed warehouse building totaling 60,000 SF with six dock-high doors and one grade-level drive-in door. The lease term is negotiable, and a tenant upfit allowance may be included depending on the lease structure.
The property is located in Monroe, NC with easy access to Hwy 74, supporting efficient arrival and loading for distribution and logistics users.
This is a purpose-built option for tenants seeking dock-equipped warehouse space with a negotiable lease structure and the possibility of tenant improvements.
The property is located in Monroe, NC with easy access to Hwy 74, supporting efficient arrival and loading for distribution and logistics users.
This is a purpose-built option for tenants seeking dock-equipped warehouse space with a negotiable lease structure and the possibility of tenant improvements.
Key Highlights
- Proposed 60,000 SF warehouse building
- Six dock‑high doors for loading
- One grade‑level drive‑in door
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
$436,050
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
5.81%
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%
$8,721,000
$8.7M
Cap Rate 7%
$6,229,286
$6.2M
Cap Rate 9%
$4,845,000
$4.8M
Market Conditions
NOI Build-Up for 60,000 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
$540.0K $9.00/SF
− Vacancy
−$27.0K −$0.45/SF
EGI
$513.0K $8.55/SF
− OpEx
−$77.0K −$1.28/SF
NOI
$436.1K $7.27/SF
Area
Union County, NC
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$8,721,000
Cap Rate 7%
$6,229,286
Cap Rate 9%
$4,845,000
Alternative Uses
Best Use
Warehouse
$6.23M
$5.45M – $7.27M
NOI $436,050 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.53M
$16.22M – $21.62M
NOI $1,297,296 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Camp Sutton RV and Boat Storage — 2501 Simpson St SY, Monroe, NC 28112
- WayFlowers Van Lines — 2507 Walkup Ave, Monroe, NC 28110
Frequently Asked Questions
What type of property is this?
Warehouse - Proposed warehouse with six dock-high doors and one grade-level drive-in door with easy access to Hwy 74.
Where is this warehouse located?
The property is located at 2900 Stitt St Monroe, NC.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Proposed 60,000 SF warehouse building; Six dock‑high doors for loading; One grade‑level drive‑in door
