Office-Flex Warehouse
For Sale
Contact for pricing
2613 - 2617 Executive Point Dr, Monroe, NC 28110
Combination office and workspace/flex configuration, with highway access and traffic exposure for office, flex, or light industrial users.
Property Size21,361 SF
Price / SF$163.85
Days on Market165
Property Features for 2613 - 2617 Executive Point Dr
General Information
Standard status
Active
Size
21,361 SF
Property subtype
Industrial, Office, Retail
Zoning
GB
Net Operating Income
$85,386
Additional Details
Highway Access
Yes
Building Details
Year Built
2000
Listing Agency:
KW Commercial
Listed By:
Matthew Hagler · License #NC 206869
(704) 887-6600
Source:
Crexi
Added: Mar 25
Changed: Aug 21
Last Checked: Sep 5 at 8:25PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This property includes a building configured with a combination of office and workspace/flex areas, designed to support a range of office, flex, light industrial, or service-oriented uses. The property is currently partially leased, with 9,548 SF leased and 11,813 SF available for lease or owner-user occupancy.
The location is positioned for convenient regional access, with highway access and strong traffic exposure referenced in the materials, along with proximity to Charlotte and a growing population base.
For buyers seeking immediate operational flexibility, the available space can support an owner-user while maintaining existing leased area. The overall configuration provides a practical mix of work area and office functionality within one building.
The location is positioned for convenient regional access, with highway access and strong traffic exposure referenced in the materials, along with proximity to Charlotte and a growing population base.
For buyers seeking immediate operational flexibility, the available space can support an owner-user while maintaining existing leased area. The overall configuration provides a practical mix of work area and office functionality within one building.
Key Highlights
- Year built 2000
- Combination office and workspace/flex configuration
- 9,548 SF currently leased
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
$247,458
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
7.07%
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%
$4,949,160
$4.9M
Cap Rate 7%
$3,535,114
$3.5M
Cap Rate 9%
$2,749,533
$2.7M
Market Conditions
NOI Build-Up for 21,361 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
$405.0K $18.96/SF
− Vacancy
−$24.3K −$1.14/SF
EGI
$380.7K $17.82/SF
− OpEx
−$133.2K −$6.24/SF
NOI
$247.5K $11.58/SF
Area
Union County, NC
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$4,949,160
Cap Rate 7%
$3,535,114
Cap Rate 9%
$2,749,533
Alternative Uses
Best Use
Flex RnD
$3.54M
$3.09M – $4.12M
NOI $247,458 @ 7.0% cap · market cap 7.07%
Second Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,241 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,859 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
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?
Flex space - Combination office and workspace/flex configuration, with highway access and traffic exposure for office, flex, or light industrial users.
Where is this flex space located?
The property is located at 2613 - 2617 Executive Point Dr Monroe, NC.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Year built 2000; Combination office and workspace/flex configuration; 9,548 SF currently leased
