Flex Building with Drive-In
New
For Sale
$359,000
1761 US 64 Highway #10, Rutherfordton, NC 28139
Finished live/work space includes an apartment, office area, and climate-controlled rooms.
Property Size3,000 SF
Lot Size2.57 Acres
Price / SF$119.67
Days on Market4
Property Features for 1761 US 64 Highway #10
General Information
Standard status
Active
Size
3,000 SF
Lot size
2.57 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Span
Yes
Drive-In Doors
4
Amenities
Central air
Corner Lot
Metal Roof
Cleared
Concrete Flooring
Driveway
Ductless Cooling
Ductless Heating
Level
Building Details
Year Built
2025
Buildings
1
Construction
post and steel
Listing Agency:
RE/MAX JOURNEY
(828) 395-2222
Listed By:
LOYCE SNIDER · License #162506
(828) 223-8946
Source:
Corcoran
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 2:53PM
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 RE/MAX JOURNEY
Investment Insights
Based on property information with market context.
Constructed in 2025, this 3,000-square-foot flex building combines a post-and-steel engineered structure with finished live/work and office areas. The open clear-span space has 14-foot eave height, concrete floors designed for forklift use, full insulation, and a wood-burning heater. Four high-clearance drive-in doors allow vehicles to move through the building, while the layout can accommodate repair, showroom, light industrial, or warehouse operations.
The finished residential component includes a one-bedroom apartment with a full kitchen, laundry area, living space, and split-unit climate control. Two additional rooms provide climate-controlled storage or studio space. The property occupies 2.57 acres at a lighted intersection on US 64 Highway, with level graveled parking and access suited to the building’s commercial configuration.
The finished residential component includes a one-bedroom apartment with a full kitchen, laundry area, living space, and split-unit climate control. Two additional rooms provide climate-controlled storage or studio space. The property occupies 2.57 acres at a lighted intersection on US 64 Highway, with level graveled parking and access suited to the building’s commercial configuration.
Key Highlights
- 3,000‑square‑foot post‑and‑steel flex building constructed in 2025
- Four high‑clearance drive‑in doors accommodate through‑building vehicle movement
- 14‑foot eave height with clear‑span interior and forklift‑ready concrete floors
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
$29,665
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
8.26%
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%
$593,300
$593.3K
Cap Rate 7%
$423,786
$423.8K
Cap Rate 9%
$329,611
$329.6K
Market Conditions
NOI Build-Up for 3,000 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
$43.2K $14.40/SF
− Vacancy
−$821 −$0.27/SF
EGI
$42.4K $14.13/SF
− OpEx
−$12.7K −$4.24/SF
NOI
$29.7K $9.89/SF
Area
Rutherford County, NC
Vacancy
1.90%
Lease Rate
$14.40 /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%
$593,300
Cap Rate 7%
$423,786
Cap Rate 9%
$329,611
Alternative Uses
Best Use
Retail
$423.8K
$370.8K – $494.4K
NOI $29,665 @ 7.0% cap · market cap 8.26%
Second Best
Flex RnD
$344.2K
$301.2K – $401.6K
NOI $24,093 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$661.6K
$578.9K – $771.8K
NOI $46,310 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28139, NC
18,665
Population
8,953
Households
2.1
Avg Household Size
48
Median Age
23%
College-Educated
87%
High-School Grad
181.9 sq mi
ZIP Area
103
Density / Sq Mi
$52,148
Median Household Income
$36,340
Median Earnings
$842
Median Rent
$195,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Finished live/work space includes an apartment, office area, and climate-controlled rooms.
Where is this flex space located?
The property is located at 1761 US 64 Highway #10 Rutherfordton, NC.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 3,000‑square‑foot post‑and‑steel flex building constructed in 2025; Four high‑clearance drive‑in doors accommodate through‑building vehicle movement; 14‑foot eave height with clear‑span interior and forklift‑ready concrete floors
