Single-Tenant Industrial Manufacturing
For Sale
Contact for pricing
258-260 W Aviation Dr, Statesville, NC 28677
Fully leased single-tenant industrial manufacturing facility across from Statesville Regional Airport with modern HVAC and ample parking.
Property Size74,000 SF
Lot Size6.00 Acres
Price / SF$155.41
Days on Market69
Property Features for 258-260 W Aviation Dr
General Information
Standard status
Active
Size
74,000 SF
Class
Class A
Lot size
6.00 Acres
Property subtype
INDUSTRIAL
Occupancy
100%
Additional Details
Cap Rate
6.56%
Highway Access
Yes
Building Details
Building Size
74,000 SF
Tenancy
Single
Listing Agency:
COMPASS
(704) 975-6742
Listed By:
Boston Reid · License #265912
(704) 975-6742
Source:
Moodyscre
Added: Jun 4
Changed: Jul 30
Last Checked: Jul 30 at 2:34PM
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 single-tenant industrial manufacturing facility is fully leased to the ADDMAN Group. The property includes approximately 174,000 SF of manufacturing space and high-end office space, and it is situated on about 6 acres. The building is equipped with modern HVAC and electrical systems and offers ample on-site parking.
The property is positioned across from Statesville Regional Airport and sits just minutes from I-77 and I-40, placing it in an active industrial corridor. In-place leasing is described as stable, with renewal options referenced in the offering.
For investors seeking a leased industrial asset, the offering highlights a 6.56% cap rate and long-term security tied to the existing tenant and renewal options.
The property is positioned across from Statesville Regional Airport and sits just minutes from I-77 and I-40, placing it in an active industrial corridor. In-place leasing is described as stable, with renewal options referenced in the offering.
For investors seeking a leased industrial asset, the offering highlights a 6.56% cap rate and long-term security tied to the existing tenant and renewal options.
Key Highlights
- Fully leased to ADDMAN Group, single‑tenant industrial investment
- Approximately 174,000 SF class A manufacturing facility
- About 6 acres
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
$487,552
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
4.24%
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%
$9,751,040
$9.8M
Cap Rate 7%
$6,965,029
$7.0M
Cap Rate 9%
$5,417,244
$5.4M
Market Conditions
NOI Build-Up for 74,000 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
$737.0K $9.96/SF
− Vacancy
−$40.5K −$0.55/SF
EGI
$696.5K $9.41/SF
− OpEx
−$209.0K −$2.82/SF
NOI
$487.6K $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%
$9,751,040
Cap Rate 7%
$6,965,029
Cap Rate 9%
$5,417,244
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
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Fully leased single-tenant industrial manufacturing facility across from Statesville Regional Airport with modern HVAC and ample parking.
Where is this manufacturing property located?
The property is located at 258-260 W Aviation Dr 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: Fully leased to ADDMAN Group, single‑tenant industrial investment; Approximately 174,000 SF class A manufacturing facility; About 6 acres
