Office/Flex Building Investment
For Sale
Contact for pricing
1617 W Roosevelt Blvd, Monroe, NC 28110
10,000 SF office/flex building with high traffic visibility.
Property Size10,000 SF
Price / SF$130
Days on Market181
Property Features for 1617 W Roosevelt Blvd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Industrial, Office
Zoning
CAO-C
Net Operating Income
$87,780
Building Details
Year Built
1970
Year Renovated
2021
Buildings
1
Stories
1
Listing Agency:
One Alliance Companies
(704) 618-6234
Listed By:
Leah Parker · License #306809
Source:
Crexi
Added: Feb 11
Changed: Aug 10
Last Checked: Aug 10 at 12:52PM
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
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 = 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
$115,846
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
8.91%
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%
$2,316,920
$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
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
$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 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%
$2,316,920
Cap Rate 7%
$1,654,943
Cap Rate 9%
$1,287,178
Alternative Uses
Best Use
Office B
$2.23M
$1.95M – $2.60M
NOI $156,045 @ 7.0% cap · market cap 12.00%
Second Best
Flex RnD
$1.65M
$1.45M – $1.93M
NOI $115,846 @ 7.0% cap · market cap 8.91%
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
