Leased Class A Industrial
For Sale
$11,500,000
258-260 W Aviation Drive, Statesville, NC 28677
Single-tenant Class A industrial building leased to ADDMAN Group, with high-end office, modern systems, and ample parking.
Property Size74,577 SF
Lot Size6.00 Acres
Price / SF$154.20
Days on Market95
Property Features for 258-260 W Aviation Drive
General Information
Standard status
Active
Size
74,577 SF
Class
A
Lot size
6.00 Acres
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6.56%
Building Details
Year Built
1999
Buildings
1
Tenancy
Single
Listed By:
Angela Abbatiello
(704) 622-8143
Source:
Myhawthornecommons.idxbroker
Added: Jun 12
Changed: Sep 4
Last Checked: Sep 13 at 4:03AM
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 Angela Abbatiello
Investment Insights
Based on property information with market context.
This Class A industrial facility totals approximately 174,000 square feet and is situated on about 6 acres. The building includes high-end office space and is supported by modern HVAC and electrical systems. Ample parking is provided for employees and visitors. The property is currently fully leased to ADDMAN Group, supporting a single-tenant industrial setup.
Located at 258-260 W Aviation Drive in Statesville, North Carolina, the asset is positioned across from Statesville Regional Airport. The remarks indicate convenient access to major roadways, with the site described as minutes from I-77 and I-40.
For investors or operators seeking a stabilized, single-tenant industrial investment, this property offers in-place income with renewal options referenced in the provided information. The offering is presented as a Class A industrial investment with a stated 6.56% cap rate. With modern building systems, office space, and parking included, the configuration is designed to support advanced manufacturing operations alongside dedicated administrative space.
Located at 258-260 W Aviation Drive in Statesville, North Carolina, the asset is positioned across from Statesville Regional Airport. The remarks indicate convenient access to major roadways, with the site described as minutes from I-77 and I-40.
For investors or operators seeking a stabilized, single-tenant industrial investment, this property offers in-place income with renewal options referenced in the provided information. The offering is presented as a Class A industrial investment with a stated 6.56% cap rate. With modern building systems, office space, and parking included, the configuration is designed to support advanced manufacturing operations alongside dedicated administrative space.
Key Highlights
- Single‑tenant Class A industrial building built in 1999 and fully leased to ADDMAN Group
- ±74,000 SF industrial facility on 6 acres with in‑place stable income and renewal options
- Includes high‑end office space within the industrial building
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
$491,354
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%
$9,827,080
$9.8M
Cap Rate 7%
$7,019,343
$7.0M
Cap Rate 9%
$5,459,489
$5.5M
Market Conditions
NOI Build-Up for 74,577 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
$742.8K $9.96/SF
− Vacancy
−$40.9K −$0.55/SF
EGI
$701.9K $9.41/SF
− OpEx
−$210.6K −$2.82/SF
NOI
$491.4K $6.59/SF
Area
Iredell County, NC
Vacancy
5.50%
Lease Rate
$9.96 /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%
$9,827,080
Cap Rate 7%
$7,019,343
Cap Rate 9%
$5,459,489
Alternative Uses
Best Use
Industrial
$7.02M
$6.14M – $8.19M
NOI $491,354 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.47M
$20.54M – $27.38M
NOI $1,643,080 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
Median Home Value
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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?
Manufacturing property - Single-tenant Class A industrial building leased to ADDMAN Group, with high-end office, modern systems, and ample parking.
Where is this manufacturing property located?
The property is located at 258-260 W Aviation Drive Statesville, NC.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Single‑tenant Class A industrial building built in 1999 and fully leased to ADDMAN Group; ±74,000 SF industrial facility on 6 acres with in‑place stable income and renewal options; Includes high‑end office space within the industrial building
