Single-Story Flex
New
For Sale
$495,000
232 N Bivens Road, Monroe, NC 28110
Commercial Sale, Monroe, NC
Property Size5,000 SF
Lot Size1.00 Acre
Price / SF$99
Days on Market1
Property Features for 232 N Bivens Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GI
Zoning description
Industrial
Standard status
Active
APN
09 084 009 L
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Bivens Rd 232 Bivens
Legal Description
Bivens Rd 232 Bivens
Building Details
Year built
1990
Floors in Building
1
Listing Agency:
Hunter Homes Realty
(704) 983-3363
Listed By:
Brenda Hunter · License #171369
(704) 244-9633
Added: Sep 5
Last Checked: Sep 5 at 7:06PM
MLS# 4413307
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story flex property includes a 5,000-square-foot warehouse and office building on approximately 1 acre. Constructed in 1990, the facility is offered with the land, building, and fixtures, providing an established base for industrial, storage, warehouse, or business operations. The property is currently leased and may suit an owner-user or investor seeking an existing commercial asset.
Located within the City of Monroe, the site is accessed from a paved, publicly maintained road. GI zoning supports the property's industrial-oriented configuration and broad commercial utility. The address is 232 N Bivens Road, Monroe, NC 28110, in Union County.
Located within the City of Monroe, the site is accessed from a paved, publicly maintained road. GI zoning supports the property's industrial-oriented configuration and broad commercial utility. The address is 232 N Bivens Road, Monroe, NC 28110, in Union County.
Key Highlights
- 5,000‑square‑foot warehouse and office building
- Approximately 1 acre of land included
- GI (General Industrial) zoning
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
$36,338
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
7.34%
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%
$726,760
$726.8K
Cap Rate 7%
$519,114
$519.1K
Cap Rate 9%
$403,756
$403.8K
Market Conditions
NOI Build-Up for 5,000 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
$45.0K $9.00/SF
− Vacancy
−$2.3K −$0.45/SF
EGI
$42.8K $8.55/SF
− OpEx
−$6.4K −$1.28/SF
NOI
$36.3K $7.27/SF
Area
Union County, NC
Vacancy
5.00%
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%
$726,760
Cap Rate 7%
$519,114
Cap Rate 9%
$403,756
Alternative Uses
Best Use
Office B
$1.11M
$975.3K – $1.30M
NOI $78,022 @ 7.0% cap · market cap 15.76%
Second Best
Flex RnD
$827.5K
$724.0K – $965.4K
NOI $57,923 @ 7.0% cap · market cap 11.70%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,108 @ 7.0% cap · market cap 21.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
Median Home Value
Market
Vacancy Rate% for Office 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 - GI-zoned facility combines warehouse and office areas with paved-road access in Monroe.
Where is this flex space located?
The property is located at 232 N Bivens Road Monroe, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 5,000‑square‑foot warehouse and office building; Approximately 1 acre of land included; GI (General Industrial) zoning
