Office/Flex Building Investment
1617 W Roosevelt Blvd, Monroe, NC 28110
For Sale
Contact for pricing
10,000 SF office/flex building with high traffic visibility.
Property Size10,000 SF
Price / SF$130
Days on Market273
Property Features for 1617 W Roosevelt Blvd
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Building Details
Year Built
Year Renovated
Buildings
Stories
Listing Agency:
One Alliance Companies
Listed By:
Leah Parker · License NC #306809
(704) 618-6234
Source:
Crexi
Added: Feb 11
Changed: Nov 9
Last Checked: Nov 10 at 7:52AM
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 One Alliance Companies
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Investment Insights
Based on property information with market context.
This 10,000 square foot office/flex building offers an investment and value-add opportunity along W. Roosevelt Blvd. The property benefits from high visibility on HWY 74, with approximately 54,000 vehicles per day. The building is currently 94% leased, featuring 11 suites with 10 occupied, providing cash flow. The current net operating income is $87,780, with a pro forma net operating income of $101,700. A roof replacement was completed in 2021.
Key Highlights
- High‑traffic location on W. Roosevelt Blvd (HWY 74) with approximately 54,000 vehicles per day
- Currently 94% leased, generating immediate and stable cash flow
- Strong in‑place Net Operating Income (NOI) of $87,780 with a Pro Forma NOI of $101,700
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,846
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,316,920
$2.3M
Cap Rate 7%
$1,654,943
$1.7M
Cap Rate 9%
$1,287,178
$1.3M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$189.6K $18.96/SF
− Vacancy
−$11.4K −$1.14/SF
EGI
$178.2K $17.82/SF
− OpEx
−$62.4K −$6.24/SF
NOI
$115.8K $11.58/SF
Area
Union 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 Rate 5%
$2,316,920
Cap Rate 7%
$1,654,943
Cap Rate 9%
$1,287,178
Alternative Uses
Best Use
Flex RnD
$1.65M
$1.45M – $1.93M
NOI $115,846 @ 7.0% cap · market cap 8.91%
Second Best
Industrial
$944.2K
$826.2K – $1.10M
NOI $66,095 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,216 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- 8A Eatery Catering — 902 Guild St, Monroe, NC 28110
Frequently Asked Questions
What type of property is this?
Flex space - 10,000 SF office/flex building with high traffic visibility.
Where is this flex space located?
The property is located at 1617 W Roosevelt Blvd Monroe, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High‑traffic location on W. Roosevelt Blvd (HWY 74) with approximately 54,000 vehicles per day; Currently 94% leased, generating immediate and stable cash flow; Strong in‑place Net Operating Income (NOI) of $87,780 with a Pro Forma NOI of $101,700
