Flex Space with Walk-In
For Sale
$350,000
1532 S Mebane Street Unit 1532, Burlington, NC 27215
Open commercial layout includes climate control, a restroom, and rear parking.
Property Size1,680 SF
Price / SF$208.33
Days on Market380
Property Features for 1532 S Mebane Street Unit 1532
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Office
Additional Details
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$2,323
Amenities
bathroom
utility sink
walk-in cooler
central air and heat
3
B 1
98.7 X 237.99 X 57.31 X 2
Building Details
Year Built
2017
Buildings
1
Building Size
1,680 SF
Construction
metal building
Listing Agency:
(336) 260-0634
Listed By:
Pate Real Estate
(336) 260-0634
Source:
Xome
Added: Aug 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:40AM
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 Pate Real Estate
Investment Insights
Based on property information with market context.
This 1,680-square-foot metal flex building was constructed in 2017 and offers an adaptable open interior. The property includes one bathroom, a utility sink, and an attached walk-in cooler measuring 17.4 X 9.8. Central air and heat support year-round interior comfort, while parking is available behind the building.
Located at 1532 S Mebane Street Unit 1532 in Burlington, the property provides a practical commercial format for a range of space requirements. Its combination of open area, basic plumbing features, dedicated cooling capacity, and rear parking creates a functional setting for operations requiring flexible interior space.
Located at 1532 S Mebane Street Unit 1532 in Burlington, the property provides a practical commercial format for a range of space requirements. Its combination of open area, basic plumbing features, dedicated cooling capacity, and rear parking creates a functional setting for operations requiring flexible interior space.
Key Highlights
- 1,680‑square‑foot metal flex building constructed in 2017
- Attached 17.4 X 9.8 walk‑in cooler
- Open interior floor plan with one bathroom and utility sink
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
$12,955
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
3.70%
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%
$259,100
$259.1K
Cap Rate 7%
$185,071
$185.1K
Cap Rate 9%
$143,944
$143.9K
Market Conditions
NOI Build-Up for 1,680 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
$22.0K $13.08/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$19.9K $11.86/SF
− OpEx
−$7.0K −$4.15/SF
NOI
$13.0K $7.71/SF
Area
Alamance County, NC
Vacancy
9.30%
Lease Rate
$13.08 /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%
$259,100
Cap Rate 7%
$185,071
Cap Rate 9%
$143,944
Alternative Uses
Best Use
Office B
$466.0K
$407.8K – $543.7K
NOI $32,621 @ 7.0% cap · market cap 9.32%
Second Best
Flex RnD
$185.1K
$161.9K – $215.9K
NOI $12,955 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$553.9K
$484.7K – $646.2K
NOI $38,772 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout includes climate control, a restroom, and rear parking.
Where is this flex space located?
The property is located at 1532 S Mebane Street Unit 1532 Burlington, NC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,680‑square‑foot metal flex building constructed in 2017; Attached 17.4 X 9.8 walk‑in cooler; Open interior floor plan with one bathroom and utility sink
