Updated Automotive Body
New
For Sale
$268,000
2330 Oakland Road, Forest City, NC 28043
Automotive facility with conditioned work areas, a paint booth, remodeled support spaces, and included shop equipment.
Property Size2,006 SF
Days on Market4
Property Features for 2330 Oakland Road
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Automotive
Additional Details
Highway Access
Yes
Service Bays
5
Amenities
mini-split HVAC systems
office
bathroom
Size: 0.64, Size Units: Acres
Details: Ductless
Heating: Ductless
Days on Market: 0, Listing Price: 268000, Status: Active
Year Built: 2006, Construction Type: Site Built
City: Forest City, State: NC, Zip: 28043, County: Rutherford
Sewer: Septic Installed, Water Source: City, Utilities: Wired Internet Available
Auction Y/N: 0
Building Details
Building Size
2,006 SF
Year Built
2006
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Hannah Shires
(864) 308-9115
Source:
Blackstreaminternational
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 1 at 9:24PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
Built in 2006, this automotive body shop is configured for collision and repair operations. The building includes three work bays along one side, a separate center bay, and a dedicated paint booth. Heating and air conditioning serve the three-bay section, while recent improvements added mini-split HVAC systems throughout the updated areas. The office and bathroom have also been remodeled.
Included equipment consists of a vehicle lift, two large air compressors, and a frame machine. The property is positioned just off Highways 221 and 74, providing access near two major highway routes. Its combination of multiple service areas, automotive equipment, conditioned workspace, and renovated office support makes the facility suitable for continued body shop use.
Included equipment consists of a vehicle lift, two large air compressors, and a frame machine. The property is positioned just off Highways 221 and 74, providing access near two major highway routes. Its combination of multiple service areas, automotive equipment, conditioned workspace, and renovated office support makes the facility suitable for continued body shop use.
Key Highlights
- Three work bays plus an additional center bay
- Dedicated paint booth for automotive operations
- New mini‑split HVAC systems and conditioned three‑bay section
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
$19,836
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
7.40%
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%
$396,720
$396.7K
Cap Rate 7%
$283,371
$283.4K
Cap Rate 9%
$220,400
$220.4K
Market Conditions
NOI Build-Up for 2,006 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
$28.9K $14.40/SF
− Vacancy
−$549 −$0.27/SF
EGI
$28.3K $14.13/SF
− OpEx
−$8.5K −$4.24/SF
NOI
$19.8K $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%
$396,720
Cap Rate 7%
$283,371
Cap Rate 9%
$220,400
Alternative Uses
Best Use
Retail
$283.4K
$248.0K – $330.6K
NOI $19,836 @ 7.0% cap · market cap 7.40%
Second Best
Industrial
$144.7K
$126.6K – $168.9K
NOI $10,131 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$442.4K
$387.1K – $516.1K
NOI $30,966 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,822 visits/mo
0.1 miles
Demographics for 28043, NC
20,183
Population
9,356
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
84%
High-School Grad
66.3 sq mi
ZIP Area
304
Density / Sq Mi
$41,746
Median Household Income
$29,909
Median Earnings
$744
Median Rent
$176,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Danieltown Tire Center — 2540 US-221, Forest City, NC 28043
- Clark Automotive — 2574 US-221, Forest City, NC 28043
- Hog Pen Cycles — 294 Shiloh Rd, Forest City, NC 28043
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with conditioned work areas, a paint booth, remodeled support spaces, and included shop equipment.
Where is this auto shop located?
The property is located at 2330 Oakland Road Forest City, NC.
What is the asking price?
The asking price for this property is $268,000.
What are key features of this property?
This property features: Three work bays plus an additional center bay; Dedicated paint booth for automotive operations; New mini‑split HVAC systems and conditioned three‑bay section
