Industrial Warehouse with Office
280 Cane Creek Rd, Fletcher, NC 28732
For Sale
New
$10,900,000
A substantial office component complements the facility’s warehouse area for industrial operations.
Property Size87,000 SF
Price / SF$125.29
Days on Market2
Property Features for 280 Cane Creek Rd
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Clear Span
Warehouse Space
Office Build-Out
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
Dewey Property Advisors
Listed By:
Jay Lurie · License NC #192865
(828) 216-8462
Source:
Deweypa
Added: Nov 12
Last Checked: Aug 19 at 4:44AM
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 Dewey Property Advisors
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Investment Insights
Based on property information with market context.
The Fletcher property contains 87,000 square feet, including 75,000 square feet of warehouse space and 12,000 square feet of offices. The building dates to 1988 and received a 35,000-square-foot expansion in 2011. Its zoning is I.
Located on Cane Creek Road, the facility is described as having access to major transportation corridors and Asheville Regional Airport.
Located on Cane Creek Road, the facility is described as having access to major transportation corridors and Asheville Regional Airport.
Key Highlights
- 87,000 square feet total, with 75,000 square feet of warehouse and 12,000 square feet of office space
- Expanded by 35,000 square feet in 2011
- Built in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$645,584
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,911,680
$12.9M
Cap Rate 7%
$9,222,629
$9.2M
Cap Rate 9%
$7,173,156
$7.2M
Market Conditions
NOI Build-Up for 87,000 SF
Gross rent
$783.0K $9.00/SF
− Vacancy
−$23.5K −$0.27/SF
EGI
$759.5K $8.73/SF
− OpEx
−$113.9K −$1.31/SF
NOI
$645.6K $7.42/SF
Area
Henderson County, NC
Vacancy
3.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,911,680
Cap Rate 7%
$9,222,629
Cap Rate 9%
$7,173,156
Alternative Uses
Best Use
Warehouse
$9.22M
$8.07M – $10.76M
NOI $645,584 @ 7.0% cap · market cap 5.92%
Second Best
Industrial
$7.60M
$6.65M – $8.86M
NOI $531,657 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$28.99M
$25.37M – $33.83M
NOI $2,029,536 @ 7.0% cap · market cap 18.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 28732, NC
19,158
Population
8,181
Households
2.3
Avg Household Size
43
Median Age
40%
College-Educated
93%
High-School Grad
41.3 sq mi
ZIP Area
464
Density / Sq Mi
$79,451
Median Household Income
$41,748
Median Earnings
$1,206
Median Rent
$341,900
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Go Store It Self Storage — 206 Old Airport Rd, Fletcher, NC 28732
Frequently Asked Questions
What type of property is this?
Warehouse - A substantial office component complements the facility’s warehouse area for industrial operations.
Where is this warehouse located?
The property is located at 280 Cane Creek Rd Fletcher, NC.
What is the asking price?
The asking price for this property is $10,900,000.
What are key features of this property?
This property features: 87,000 square feet total, with 75,000 square feet of warehouse and 12,000 square feet of office space; Expanded by 35,000 square feet in 2011; Built in 1988
