Industrial Warehouse with Drive-In
For Sale
$2,495,000
235 Commerce St, Brevard, NC 28712
Single-story warehouse with three-phase power, natural gas service, outdoor laydown space, and surface parking.
Property Size17,707 SF
Lot Size2.76 Acres
Price / SF$140.90
Days on Market48
Property Features for 235 Commerce St
General Information
Standard status
Active
Size
17,707 SF
Lot size
2.76 Acres
Property subtype
Industrial - Manufacturing
Zoning
General Industrial
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
4
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
17,707 SF
Year Built
1996
Stories
1
Listing Agency:
Dewey Property Advisors
Listed By:
Tim Bramley · License #271946
(828) 424-1141
Source:
Commercialcafe
Added: Aug 3
Changed: Sep 17
Last Checked: Sep 19 at 6:06AM
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 Dewey Property Advisors
Investment Insights
Based on property information with market context.
Built in 1996, this single-story industrial warehouse contains 17,707 square feet on approximately 2.76 acres. The facility offers 18-foot warehouse ceiling heights, four drive-in doors, three-phase power, natural gas service, surface parking, and outdoor laydown space. General Industrial zoning supports the property's industrial positioning.
The property is located at 235 Commerce Street in Brevard, North Carolina. Its combination of warehouse area, site acreage, drive-in access, and exterior storage space provides a practical configuration for industrial and warehouse operations. The site also includes room for future building or parking expansion, as stated in the property information.
The property is located at 235 Commerce Street in Brevard, North Carolina. Its combination of warehouse area, site acreage, drive-in access, and exterior storage space provides a practical configuration for industrial and warehouse operations. The site also includes room for future building or parking expansion, as stated in the property information.
Key Highlights
- 17,707‑square‑foot industrial warehouse on approximately 2.76 acres
- 18‑foot warehouse ceiling heights
- Four drive‑in doors
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
$127,060
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
5.09%
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%
$2,541,200
$2.5M
Cap Rate 7%
$1,815,143
$1.8M
Cap Rate 9%
$1,411,778
$1.4M
Market Conditions
NOI Build-Up for 17,707 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
$159.4K $9.00/SF
− Vacancy
−$9.9K −$0.56/SF
EGI
$149.5K $8.44/SF
− OpEx
−$22.4K −$1.27/SF
NOI
$127.1K $7.18/SF
Area
Transylvania County, NC
Vacancy
6.20%
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%
$2,541,200
Cap Rate 7%
$1,815,143
Cap Rate 9%
$1,411,778
Alternative Uses
Best Use
Warehouse
$1.82M
$1.59M – $2.12M
NOI $127,060 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.21M
$4.56M – $6.08M
NOI $365,048 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Single-story warehouse with three-phase power, natural gas service, outdoor laydown space, and surface parking.
Where is this warehouse located?
The property is located at 235 Commerce St Brevard, NC.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 17,707‑square‑foot industrial warehouse on approximately 2.76 acres; 18‑foot warehouse ceiling heights; Four drive‑in doors
