Versatile Warehouses with Storage
2313 W Front Street Statesville, NC 28677
2313 W Front Street, Statesville, NC, 28677
$1,950,000
For Sale
$1,950,000
Two warehouses with storage units and expansion potential.
Property Size7,500 SF
Lot Size4.43 Acres
Price / SF$260
Days on Market186
Property Features for 2313 W Front Street
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Lot size
- 4.43 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1997
Listing Agency
GUARDIAN REAL ESTATE GROUP LLC
(704) 880-4426
Listed by
JOSH WILSON · License #289067
Source
Corcoran
Added: Jan 16 Updated: Jul 10 at 12:57 pm Checked: Jul 20 at 3:46 am
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 GUARDIAN REAL ESTATE GROUP LLC
Investment Insights
Based on property information with market context.
This commercial property offers significant value-add potential, situated on 4.43 acres. It features two warehouses, each approximately 7,500 square feet, along with additional land suitable for constructing more buildings or outdoor storage. The property includes 15 storage units sized 10x10 and 30 storage units sized 5x10, presenting a solid investment opportunity with a proforma income of $3,000 per month from the storage units alone. Each warehouse contains built-out, heated, and cooled office space, along with men's and women's restrooms and a break room. Each building also features a loading dock and two roll-up doors. The warehouses offer good clear height. Building #2 has been completely renovated, including the office space, kitchen, and showroom. The property is zoned LI, accommodating various business types, including manufacturing. It is conveniently located near I40 and I77 and provides ample parking. This property is suitable for investors or owner-operators looking to occupy space and lease additional areas.
Key Highlights
- Strong value‑add potential with LI zoning suitable for various businesses, including manufacturing.
- Two +/- 7,500 sq ft warehouses on 4.43 acres with additional land for expansion or outdoor storage.
- Proforma income of $3k/month from 15 (10x10) and 30 (5x10) storage units.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $195.3k | $26.04 |
| − Vacancy | −$19.9k | −$2.66 |
| EGI | $175.4k | $23.38 |
| − OpEx | −$43.8k | −$5.85 |
| NOI | $131.5k | $17.54 |
7,500 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.88M
$1.64M – $2.19M
NOI $131,535 @ 7.0% cap · market cap 6.75%
Second Best
Flex RnD
$1.24M
$1.09M – $1.45M
NOI $86,884 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,240 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Westside Twins Motorcycle ...
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Affordable Mini Storage — 129 Marble Rd, Statesville, NC 28625
- Pratt Industries Distribution Center — 2370 Northside Dr, Statesville, NC 28625
- Fcx Distribution Center — W Front St, Statesville, NC 28677, United States
- Life Storage — 1510 Northside Dr, Statesville, NC 28625
FAQs
What type of property is this?
Warehouse - Two warehouses with storage units and expansion potential.
Where is this warehouse located?
The property is located at 2313 W Front Street Statesville, NC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Strong value‑add potential with LI zoning suitable for various businesses, including manufacturing.; Two +/- 7,500 sq ft warehouses on 4.43 acres with additional land for expansion or outdoor storage.; Proforma income of $3k/month from 15 (10x10) and 30 (5x10) storage units.
