Two-Unit Warehouse Flex
For Sale
$699,000
1707 10th Ave NE, Hickory, NC 28601
One building with two leased warehouse/light manufacturing spaces, offices, docks, and approximately 12-foot ceilings.
Property Size12,000 SF
Price / SF$58.25
Days on Market95
Property Features for 1707 10th Ave NE
General Information
Standard status
Active
Size
12,000 SF
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Road Access
Yes
Building Details
Year Built
1984
Tenancy
Multi
Listing Agency:
Weston Capital Group LLC
Listed By:
Fletcher Edens · License #226103
(828) 584-3809
Source:
Lewisandkirk
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 7 at 4:10PM
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 Weston Capital Group LLC
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Investment Insights
Based on property information with market context.
This single flex/industrial building contains two separate warehouse/light manufacturing spaces with dedicated office areas. The property is roughly split into two units of approximately 6,000 square feet each, totaling about 12,000 square feet, and is fully sprinkled.
The building spans between 10th Ave NE and 11th Ave NE and has frontage on each street. Both unit entrances include dock doors, and each side also features a 9' x 9' drive-in garage door entry, along with adequate parking.
Each unit is leased long term and has its own street access via the 10th and 11th entrances. Please do not disturb tenants.
The building spans between 10th Ave NE and 11th Ave NE and has frontage on each street. Both unit entrances include dock doors, and each side also features a 9' x 9' drive-in garage door entry, along with adequate parking.
Each unit is leased long term and has its own street access via the 10th and 11th entrances. Please do not disturb tenants.
Key Highlights
- Single building spans 10th Ave NE to 11th Ave NE with frontage on both streets
- +/-12,000 SF total split into two spaces of +/-6,000 SF each for warehouse/light manufacturing with offices
- Both units have leased long‑term tenant occupancy (10th and 11th street entrances)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,944
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,880
$1.3M
Cap Rate 7%
$899,200
$899.2K
Cap Rate 9%
$699,378
$699.4K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$96.5K $8.04/SF
− Vacancy
−$6.6K −$0.55/SF
EGI
$89.9K $7.49/SF
− OpEx
−$27.0K −$2.25/SF
NOI
$62.9K $5.25/SF
Area
Catawba County, NC
Vacancy
6.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,880
Cap Rate 7%
$899,200
Cap Rate 9%
$699,378
Alternative Uses
Best Use
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,279 @ 7.0% cap · market cap 17.49%
Second Best
Warehouse
$1.09M
$955.4K – $1.27M
NOI $76,431 @ 7.0% cap · market cap 10.93%
Theoretical Best
Office A
$3.51M
$3.07M – $4.09M
NOI $245,376 @ 7.0% cap · market cap 35.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28601, NC
53,973
Population
23,400
Households
2.3
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
47.1 sq mi
ZIP Area
1,146
Density / Sq Mi
$67,839
Median Household Income
$41,697
Median Earnings
$951
Median Rent
$236,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - One building with two leased warehouse/light manufacturing spaces, offices, docks, and approximately 12-foot ceilings.
Where is this flex space located?
The property is located at 1707 10th Ave NE Hickory, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Single building spans 10th Ave NE to 11th Ave NE with frontage on both streets; +/-12,000 SF total split into two spaces of +/-6,000 SF each for warehouse/light manufacturing with offices; Both units have leased long‑term tenant occupancy (10th and 11th street entrances)
