Industrial Warehouse with Flexible Unit
New
For Sale
$1,990,000
5520 Cannon Dr Indian, Monroe, NC 28110
Multi-unit industrial property with vacant owner-user space, warehouse storage, and access to major regional routes.
Property Size12,240 SF
Price / SF$162.58
Days on Market2
Property Features for 5520 Cannon Dr Indian
General Information
Standard status
Active
Size
12,240 SF
Class
C
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Gross Income
$60,000
Clear Height
20 ft
Building Details
Building Size
12,240 SF
Year Built
1997
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Realty
(704) 575-1993
Listed By:
Peter Rieke · License #292618ANDSC100374S
(704) 575-1993
Source:
Thebrokerlist
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 12:46PM
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 Coldwell Banker Commercial Realty
Investment Insights
Based on property information with market context.
This 12,240-square-foot warehouse property contains four total units, including the combined 103/104 space leased to one tenant. Unit 102 is vacant and includes 1,950 square feet on the ground floor plus a 500-square-foot upper level. Warehouse areas offer 20-foot ceiling heights suited to storage and industrial operations. The property was built in 1997.
Located in Indian Trail with a Monroe mailing address, the property provides direct access to Hwy 74, the Monroe Expressway, and Hwy 485. Its position near Independence Blvd. supports connectivity to the Charlotte market and regional distribution routes.
Located in Indian Trail with a Monroe mailing address, the property provides direct access to Hwy 74, the Monroe Expressway, and Hwy 485. Its position near Independence Blvd. supports connectivity to the Charlotte market and regional distribution routes.
Key Highlights
- 12,240 SF industrial warehouse property built in 1997
- Four total units, including combined Units 103/104 leased to one tenant
- Unit 102 is vacant with 1,950 SF downstairs and 500 SF upstairs
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
$88,954
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
4.47%
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%
$1,779,080
$1.8M
Cap Rate 7%
$1,270,771
$1.3M
Cap Rate 9%
$988,378
$988.4K
Market Conditions
NOI Build-Up for 12,240 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
$110.2K $9.00/SF
− Vacancy
−$5.5K −$0.45/SF
EGI
$104.7K $8.55/SF
− OpEx
−$15.7K −$1.28/SF
NOI
$89.0K $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%
$1,779,080
Cap Rate 7%
$1,270,771
Cap Rate 9%
$988,378
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,954 @ 7.0% cap · market cap 4.47%
Second Best
Industrial
$1.15M
$1.01M – $1.34M
NOI $80,644 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,648 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Under-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
- Public Storage — 5530 W Hwy 74, Monroe, NC 28110
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-unit industrial property with vacant owner-user space, warehouse storage, and access to major regional routes.
Where is this warehouse located?
The property is located at 5520 Cannon Dr Indian Monroe, NC.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 12,240 SF industrial warehouse property built in 1997; Four total units, including combined Units 103/104 leased to one tenant; Unit 102 is vacant with 1,950 SF downstairs and 500 SF upstairs
