Industrial Shop with Two Bay
New
For Sale
$85,000
17-G Lake Street, Granite Falls, NC 28630
Public water, sewer, a bathroom, and a wood stove are already installed.
Property Size900 SF
Price / SF$94.44
Days on Market6
Property Features for 17-G Lake Street
General Information
Standard status
Active
Size
900 SF
Property subtype
Lot
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$85,000
Drive-In Doors
2
Amenities
Public Sewer
Additional parcels description:, Parcel Number: 2785368593, Assessed Value: $9,600
Listing ID: CAR4426880, Standard Status: Active, MLS Status: Active, Property Subtype: Lot, 1 day on market, Special Conditions: None
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
County/Parish: Caldwell
Water Source: City
Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
900 SF
Listing Agency:
C. Rice and Associates LLC
Listed By:
Caleb Rice
(828) 502-9197
Source:
Blackstreaminternational
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 9:50AM
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 C. Rice and Associates LLC
Investment Insights
Based on property information with market context.
This detached industrial shop measures 30×30 feet, or 900 sq ft, and includes two bay doors. A bathroom is in place, along with public water and sewer service. A wood stove is also part of the building.
The property is within Granite Falls city limits, with access to Hwy 321. Its Lake Street address is 17-G Lake Street, Granite Falls, NC 28630.
The property is within Granite Falls city limits, with access to Hwy 321. Its Lake Street address is 17-G Lake Street, Granite Falls, NC 28630.
Key Highlights
- Detached 30×30 shop with 900 sq ft
- Two bay doors
- Public water and sewer, with a bathroom already installed
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
$4,964
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
5.84%
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%
$99,280
$99.3K
Cap Rate 7%
$70,914
$70.9K
Cap Rate 9%
$55,156
$55.2K
Market Conditions
NOI Build-Up for 900 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
$7.2K $8.04/SF
− Vacancy
−$145 −$0.16/SF
EGI
$7.1K $7.88/SF
− OpEx
−$2.1K −$2.36/SF
NOI
$5.0K $5.52/SF
Area
Caldwell County, NC
Vacancy
2.00%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$99,280
Cap Rate 7%
$70,914
Cap Rate 9%
$55,156
Alternative Uses
Best Use
Industrial
$70.9K
$62.1K – $82.7K
NOI $4,964 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$205.4K
$179.7K – $239.6K
NOI $14,377 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 28630, NC
19,772
Population
9,220
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
82%
High-School Grad
61.0 sq mi
ZIP Area
324
Density / Sq Mi
$65,713
Median Household Income
$41,407
Median Earnings
$808
Median Rent
$197,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Public water, sewer, a bathroom, and a wood stove are already installed.
Where is this industrial property located?
The property is located at 17-G Lake Street Granite Falls, NC.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Detached 30×30 shop with 900 sq ft; Two bay doors; Public water and sewer, with a bathroom already installed
