Listing Agency: Keller Williams Realty k***@kw.com Show Phone

Listed By: Molly Myers · License #301403 Show Phone

Added: Apr 13 Changed: Aug 9 Last Checked: Aug 9 at 12:06PM

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MLS# 1216175

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Investment Insights

Based on property information with market context.

This flex-space property includes a 4,200-square-foot metal building measuring 42 by 100 feet. The structure is an insulated shell on a concrete slab foundation, allowing the interior to be configured for workshop, business, or storage use. Plumbing is installed, and temporary electric service is currently in place. The building could also be finished out as a barndominium, subject to applicable requirements.

The property contains 5.87 acres at 1355 Spainhour Mill Road in Pinnacle, North Carolina. It carries RA zoning and provides additional land around the existing structure for future expansion or other supported uses. The combination of an existing shell building, basic utility improvements, and substantial acreage offers a customizable setup for an owner-user or purchaser seeking flexible space.

Key Highlights

• 5.87‑acre property in Pinnacle, NC
• 42 by 100‑foot metal building totaling 4,200 square feet
• Insulated shell on a concrete slab foundation

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

$29,592

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

7.89%

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%

$591,840 $591.8K

Cap Rate 7%

$422,743 $422.7K

Cap Rate 9%

$328,800 $328.8K

Market Conditions

NOI Build-Up for 4,200 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

$37.8K $9.00/SF

− Vacancy

−$3.0K −$0.71/SF

EGI

$34.8K $8.29/SF

− OpEx

−$5.2K −$1.24/SF

NOI

$29.6K $7.05/SF

Area

Stokes County, NC

Vacancy

7.90%

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%

$591,840

Cap Rate 7%

$422,743

Cap Rate 9%

$328,800

Alternative Uses

Best Use

Warehouse

$422.7K

$369.9K – $493.2K (±1% cap)

NOI $29,592 @ 7.0% cap · market cap 7.89%

Second Best

Industrial

$348.1K

$304.6K – $406.2K (±1% cap)

NOI $24,370 @ 7.0% cap · market cap 6.50%

Theoretical Best

Multifamily LT 5

$49.96M

$43.72M – $58.29M (±1% cap)

NOI $3,497,431 @ 7.0% cap · market cap 932.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Storage Facility Auto Repair Shop

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

Utilities to site

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 27043, NC

6,322

Population

2,993

Households

2.1

Avg Household Size

47

Median Age

18%

College-Educated

89%

High-School Grad

68.4 sq mi

ZIP Area

92

Density / Sq Mi

$75,513

Median Household Income

$49,583

Median Earnings

$834

Median Rent

$211,600

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Insulated shell building on a concrete slab with plumbing and temporary electric already in place.

Where is this flex space located?

The property is located at 1355 Spainhour Mill Road Pinnacle, NC.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 5.87‑acre property in Pinnacle, NC; 42 by 100‑foot metal building totaling 4,200 square feet; Insulated shell on a concrete slab foundation