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 Market141
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
Listing Agency:
wilson realty Co LLC
Listed By:
Angela Abbatiello · License #224050
(704) 622-8143
Source:
Myhawthornecommons.idxbroker
Added: Jun 12
Changed: Oct 25
Last Checked: Oct 28 at 4:41AM
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 wilson realty Co LLC
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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 / Yr
$491,354
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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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
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
