Flex Space with 2 Bay
New
For Sale
$1,100,000
2150 E Franklin Boulevard, Gastonia, NC 28054
Commercial building with a wash pit, multiple bathrooms, and service-oriented interior features.
Property Size5,464 SF
Price / SF$201.32
Days on Market4
Property Features for 2150 E Franklin Boulevard
General Information
Standard status
Active
Size
5,464 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
3 bathrooms
2 bay doors
wash pit
Central air
Central Air Cooling
Concrete Flooring
Building Details
Year Built
1945
Buildings
1
Building Size
5,464 SF
Listing Agency:
CENTURY 21 TOWN & COUNTRY RLTY
(704) 735-1425
Listed By:
JENNIFER COLEMAN · License #322722
Source:
Corcoran
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 3:55AM
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 CENTURY 21 TOWN & COUNTRY RLTY
Investment Insights
Based on property information with market context.
This 5,464-square-foot flex property, built in 1945, offers a functional commercial layout with three bathrooms, two bay doors, and an existing wash pit. One bathroom is currently operational. The combination of interior space and service-related improvements may support automotive, equipment, warehouse, or other commercial applications, subject to zoning and required approvals.
The property is located at 2150 E Franklin Boulevard in Gastonia, with access to I85 and proximity to shopping, dining, services, and other established businesses. Its location along E Franklin Boulevard places the building within an established commercial area.
The property is located at 2150 E Franklin Boulevard in Gastonia, with access to I85 and proximity to shopping, dining, services, and other established businesses. Its location along E Franklin Boulevard places the building within an established commercial area.
Key Highlights
- 5,464 SF flex property built in 1945
- Two bay doors and an existing wash pit
- Three bathrooms; one is currently operational
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
$67,079
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
6.10%
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%
$1,341,580
$1.3M
Cap Rate 7%
$958,271
$958.3K
Cap Rate 9%
$745,322
$745.3K
Market Conditions
NOI Build-Up for 5,464 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
$103.6K $18.96/SF
− Vacancy
−$7.8K −$1.42/SF
EGI
$95.8K $17.54/SF
− OpEx
−$28.7K −$5.26/SF
NOI
$67.1K $12.28/SF
Area
Gaston County, NC
Vacancy
7.50%
Lease Rate
$18.96 /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%
$1,341,580
Cap Rate 7%
$958,271
Cap Rate 9%
$745,322
Alternative Uses
Best Use
Retail
$958.3K
$838.5K – $1.12M
NOI $67,079 @ 7.0% cap · market cap 6.10%
Second Best
Industrial
$514.3K
$450.0K – $600.0K
NOI $36,000 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,383 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28054, NC
40,548
Population
18,351
Households
2.2
Avg Household Size
40
Median Age
25%
College-Educated
90%
High-School Grad
19.3 sq mi
ZIP Area
2,101
Density / Sq Mi
$59,524
Median Household Income
$39,883
Median Earnings
$1,150
Median Rent
$220,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with a wash pit, multiple bathrooms, and service-oriented interior features.
Where is this flex space located?
The property is located at 2150 E Franklin Boulevard Gastonia, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,464 SF flex property built in 1945; Two bay doors and an existing wash pit; Three bathrooms; one is currently operational
