Building Details

Year Built 2003

Buildings 2

Listing Agency: RE/MAX CHOICE l***@hotmail.com Show Phone

Listed By: LESLIE DYSINGER · License #279613

Source: Fayettevillehomesource

Added: Mar 14, 2025 Changed: Aug 27 Last Checked: Aug 29 at 10:29AM

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Investment Insights

Based on property information with market context.

Built in 2003, this church facility contains approximately 4,163 square feet arranged with a large meeting room, three private offices, two classrooms, four restrooms, and storage areas throughout. The kitchen includes a stove, sink, and microwave. Six heating and air conditioning units provide zoned climate control, while a crawlspace with vapor barrier and functional gutters support the building’s maintenance features.

The property encompasses nearly 5 acres at 215 Coates Rd in Linden, NC. Approximately 33 designated parking spaces serve the main building, including 2 handicap-accessible spaces. A fenced exterior area provides secured outdoor space, and a separate metal building of approximately 2,500 square feet adds room for storage, workshop functions, or other operational needs.

Key Highlights

• Nearly 5 acres with a main facility and separate exterior metal building
• Approximately 4,163 SF main building with meeting room, offices, classrooms, and storage
• Exterior metal building measures approximately 2,500 square feet

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

$42,369

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

8.47%

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%

$847,380 $847.4K

Cap Rate 7%

$605,271 $605.3K

Cap Rate 9%

$470,767 $470.8K

Market Conditions

NOI Build-Up for 4,163 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

$64.9K $15.60/SF

− Vacancy

−$4.4K −$1.06/SF

EGI

$60.5K $14.54/SF

− OpEx

−$18.2K −$4.36/SF

NOI

$42.4K $10.18/SF

Area

Cumberland County, NC

Vacancy

6.80%

Lease Rate

$15.60 /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%

$847,380

Cap Rate 7%

$605,271

Cap Rate 9%

$470,767

Alternative Uses

Best Use

Industrial

$605.3K

$529.6K – $706.2K (±1% cap)

NOI $42,369 @ 7.0% cap · market cap 8.47%

Second Best

Flex RnD

$446.6K

$390.8K – $521.1K (±1% cap)

NOI $31,265 @ 7.0% cap · market cap 6.25%

Theoretical Best

Office A

$994.8K

$870.4K – $1.16M (±1% cap)

NOI $69,635 @ 7.0% cap · market cap 13.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Churches & religious facilities

Suggested Use

Top Pick HVAC Service Pet Store Pet Store & Service Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 28356, NC

5,562

Population

2,566

Households

2.2

Avg Household Size

39

Median Age

24%

College-Educated

92%

High-School Grad

55.3 sq mi

ZIP Area

101

Density / Sq Mi

$63,592

Median Household Income

$47,316

Median Earnings

$731

Median Rent

$214,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Church & religious facility - Flexible facility with meeting, office, classroom, kitchen, storage, and outdoor work areas.

Where is this church & religious facility located?

The property is located at 215 Coates Rd Linden, NC.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Nearly 5 acres with a main facility and separate exterior metal building; Approximately 4,163 SF main building with meeting room, offices, classrooms, and storage; Exterior metal building measures approximately 2,500 square feet