Flex Space with Loading
For Sale
$975,000
1740 Fallston Rd, Shelby, NC 28150
Office and warehouse areas are arranged within a versatile commercial building with two access points and covered loading functionality.
Property Size3,604 SF
Price / SF$270.53
Days on Market29
Property Features for 1740 Fallston Rd
General Information
Standard status
Active
Size
3,604 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
5,069 SF
Office Build-Out
3,604 SF
Dock-High Doors
1
Conditioned Warehouse
No
Amenities
covered area with roll up door
loading dock
full bathroom plus half
Building Details
Year Built
2003
Listing Agency:
Diane Ledbetter Real Estate
(704) 692-8260
Listed By:
Diane Ledbetter · License #181896
Source:
Highperformancerea
Added: Aug 2
Changed: Aug 30
Last Checked: Aug 30 at 8:52AM
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 Diane Ledbetter Real Estate
Investment Insights
Based on property information with market context.
Built in 2003, this flex property combines heated office space at the front with an unheated warehouse area toward the rear. The office component measures 3604 square feet, while the warehouse measures 5069 square feet. Interior features include one full bathroom and one half bathroom.
The property is positioned on Hwy 18N and also provides rear access from North Post Road. A covered loading area includes a 14 ft roll-up door, and the building has a loading dock. The front roof section has been replaced, adding a documented improvement to the office-facing portion of the building.
The property is positioned on Hwy 18N and also provides rear access from North Post Road. A covered loading area includes a 14 ft roll-up door, and the building has a loading dock. The front roof section has been replaced, adding a documented improvement to the office-facing portion of the building.
Key Highlights
- Flex building with 3604 square feet of heated office space and 5069 square feet of unheated warehouse space
- Covered loading area with a 14 ft roll‑up door
- Loading dock included
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
$49,385
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
5.07%
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%
$987,700
$987.7K
Cap Rate 7%
$705,500
$705.5K
Cap Rate 9%
$548,722
$548.7K
Market Conditions
NOI Build-Up for 3,604 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
$80.0K $22.20/SF
− Vacancy
−$14.2K −$3.93/SF
EGI
$65.8K $18.27/SF
− OpEx
−$16.5K −$4.57/SF
NOI
$49.4K $13.70/SF
Area
Cleveland County, NC
Vacancy
17.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$987,700
Cap Rate 7%
$705,500
Cap Rate 9%
$548,722
Alternative Uses
Best Use
Office B
$705.5K
$617.3K – $823.1K
NOI $49,385 @ 7.0% cap · market cap 5.07%
Second Best
Flex RnD
$466.8K
$408.5K – $544.7K
NOI $32,679 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$915.3K
$800.9K – $1.07M
NOI $64,068 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas are arranged within a versatile commercial building with two access points and covered loading functionality.
Where is this flex space located?
The property is located at 1740 Fallston Rd Shelby, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Flex building with 3604 square feet of heated office space and 5069 square feet of unheated warehouse space; Covered loading area with a 14 ft roll‑up door; Loading dock included
