Flex Space with Loading
New
For Sale
$1,299,999
135 Joshua Court, Lincolnton, NC 28092
Combined office, laboratory, and climate-controlled warehouse areas support varied commercial operations.
Property Size9,800 SF
Price / SF$132.65
Days on Market4
Property Features for 135 Joshua Court
General Information
Standard status
Active
Size
9,800 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Loading
Side Load, Rear Load
Conditioned Warehouse
Yes
Amenities
break room
IT room
backup generator
Central air
Central Air Cooling
Level
Parking Lot
Building Details
Year Built
2000
Buildings
1
Building Size
9,800 SF
Listing Agency:
COMPASS
(704) 234-7880
Listed By:
LISA CIARAVELLA
Source:
Corcoran
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 2:30AM
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 COMPASS
Investment Insights
Based on property information with market context.
Built in 2000, this 9,800-square-foot flex property combines five private offices with an open lobby and reception area, dedicated laboratory space, break room, IT room, and two ADA-accessible restrooms. The warehouse is fully air-conditioned, creating a climate-controlled environment across the facility. A Generac backup generator and on-site parking add operational support.
The property at 135 Joshua Court includes two loading bays with 10' x 10' and 12' x 12' roll-up doors. A gated L-shaped side and rear loading area provides space for deliveries, equipment, fleet vehicles, and outdoor operations. Access to NC-73 and US-321 connects the property with Denver, the Lake Norman market, NC-16, Huntersville, I-77, and the greater Charlotte region.
The property at 135 Joshua Court includes two loading bays with 10' x 10' and 12' x 12' roll-up doors. A gated L-shaped side and rear loading area provides space for deliveries, equipment, fleet vehicles, and outdoor operations. Access to NC-73 and US-321 connects the property with Denver, the Lake Norman market, NC-16, Huntersville, I-77, and the greater Charlotte region.
Key Highlights
- 9,800‑square‑foot commercial building with office, lab, and warehouse areas
- Five private offices plus lobby/reception, break room, IT room, and two ADA‑accessible restrooms
- Fully air‑conditioned warehouse provides climate‑controlled space
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
$113,529
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
8.73%
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%
$2,270,580
$2.3M
Cap Rate 7%
$1,621,843
$1.6M
Cap Rate 9%
$1,261,433
$1.3M
Market Conditions
NOI Build-Up for 9,800 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
$185.8K $18.96/SF
− Vacancy
−$11.1K −$1.14/SF
EGI
$174.7K $17.82/SF
− OpEx
−$61.1K −$6.24/SF
NOI
$113.5K $11.58/SF
Area
Lincoln County, NC
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$2,270,580
Cap Rate 7%
$1,621,843
Cap Rate 9%
$1,261,433
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.86M
NOI $171,872 @ 7.0% cap · market cap 13.22%
Second Best
Flex RnD
$1.62M
$1.42M – $1.89M
NOI $113,529 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,914 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28092, NC
38,719
Population
17,332
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
119.9 sq mi
ZIP Area
323
Density / Sq Mi
$62,625
Median Household Income
$41,155
Median Earnings
$937
Median Rent
$220,700
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 - Combined office, laboratory, and climate-controlled warehouse areas support varied commercial operations.
Where is this flex space located?
The property is located at 135 Joshua Court Lincolnton, NC.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 9,800‑square‑foot commercial building with office, lab, and warehouse areas; Five private offices plus lobby/reception, break room, IT room, and two ADA‑accessible restrooms; Fully air‑conditioned warehouse provides climate‑controlled space
