Leased Class A Industrial
258-260 W Aviation Drive Statesville, NC 28677
For Sale
$11,500,000
Single-tenant Class A industrial building leased to ADDMAN Group, with high-end office, modern systems, and ample parking.
Property Size74,000 SF
Lot Size6.00 Acres
Price / SF$155.41
Days on Market57
Property Features for 258-260 W Aviation Drive
General Information
Standard status
Active
Size
74,000 SF
Lot size
6.00 Acres
Property subtype
Commercial
Building Details
Year Built
1999
Listing Agency:
COMPASS
(704) 234-7880
Listed By:
BOSTON REID · License #265912
Source:
Corcoran
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 29 at 10:31AM
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 COMPASS
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 For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $737.0k | $9.96 |
| − Vacancy | −$40.5k | −$0.55 |
| EGI | $696.5k | $9.41 |
| − OpEx | −$209.0k | −$2.82 |
| NOI | $487.6k | $6.59 |
74,000 SF · lease $9.96/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Industrial
$6.97M
$6.09M – $8.13M
NOI $487,552 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.29M
$20.38M – $27.17M
NOI $1,630,368 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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
