Flex Building with Loading
New
For Sale
Contact for pricing
232 John Crotts Rd, Mocksville, NC 27028
A 2017 facility combines warehouse and office areas with three-phase power and air conditioning.
Property Size8,000 SF
Lot Size5.25 Acres
Price / SF$165
Days on Market5
Property Features for 232 John Crotts Rd
General Information
Standard status
Active
Size
8,000 SF
Lot size
5.25 Acres
Property subtype
Industrial
Zoning
General Industrial
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
2017
Building Size
8,000 SF
Listing Agency:
Commercial Realty Advisors
Listed By:
Steve Vallos · License #NC
(336) 793-0890
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 3:03PM
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 Commercial Realty Advisors
Investment Insights
Based on property information with market context.
Completed in 2017, this flex property contains approximately 8,000 square feet of building area on approximately 5.25 acres. General Industrial zoning applies. Its warehouse and office components are supported by a loading dock fitted with a leveler and an oversized drive-in door. The building also has three-phase power and air conditioning.
The site provides outdoor area alongside the building. Together, the building’s loading features, power service, and interior mix define its commercial configuration.
The site provides outdoor area alongside the building. Together, the building’s loading features, power service, and interior mix define its commercial configuration.
Key Highlights
- Approximately 8,000 square feet of flex/industrial building area
- Approximately 5.25 acres with General Industrial zoning
- Built in 2017
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
$56,365
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
4.27%
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%
$1,127,300
$1.1M
Cap Rate 7%
$805,214
$805.2K
Cap Rate 9%
$626,278
$626.3K
Market Conditions
NOI Build-Up for 8,000 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
$72.0K $9.00/SF
− Vacancy
−$5.7K −$0.71/SF
EGI
$66.3K $8.29/SF
− OpEx
−$9.9K −$1.24/SF
NOI
$56.4K $7.05/SF
Area
Davie County, NC
Vacancy
7.90%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,127,300
Cap Rate 7%
$805,214
Cap Rate 9%
$626,278
Alternative Uses
Best Use
Warehouse
$805.2K
$704.6K – $939.4K
NOI $56,365 @ 7.0% cap · market cap 4.27%
Second Best
Industrial
$663.1K
$580.2K – $773.6K
NOI $46,418 @ 7.0% cap · market cap 3.52%
Theoretical Best
Multifamily LT 5
$95.17M
$83.27M – $111.03M
NOI $6,661,774 @ 7.0% cap · market cap 504.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27028, NC
26,479
Population
11,096
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
88%
High-School Grad
192.8 sq mi
ZIP Area
137
Density / Sq Mi
$66,166
Median Household Income
$39,858
Median Earnings
$837
Median Rent
$198,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - A 2017 facility combines warehouse and office areas with three-phase power and air conditioning.
Where is this flex space located?
The property is located at 232 John Crotts Rd Mocksville, NC.
What is the asking price?
The asking price for this property is $1,320,000.
What are key features of this property?
This property features: Approximately 8,000 square feet of flex/industrial building area; Approximately 5.25 acres with General Industrial zoning; Built in 2017
