Warehouse with Office and Outdoor
For Sale
Contact for pricing
2928 Hickory Blvd., Hudson, NC 28638
Industrial warehouse with dedicated office space and room for outdoor storage and equipment parking.
Property Size15,475 SF
Lot Size6.00 Acres
Price / SF$121.16
Days on Market48
Property Features for 2928 Hickory Blvd.
General Information
Standard status
Active
Size
15,475 SF
Lot size
6.00 Acres
Property subtype
Industrial
Zoning
H-B
Additional Details
Road Access
Yes
Listing Agency:
Commercial First
Listed By:
Shana White · License #NC 285523
Source:
Crexi
Added: Jul 3
Changed: Aug 17
Last Checked: Aug 18 at 7:13AM
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 Commercial First
Investment Insights
Based on property information with market context.
This warehouse facility offers a versatile layout for manufacturing, distribution, warehousing, or contractor operations, with abundant storage space to support day-to-day business needs. The building includes dedicated office space and a fully functional kitchen/area. Additional space on the property is available for outdoor storage, equipment parking, fleet operations, or future expansion and additional development.
The property sits on over 6 acres with excellent visibility and road frontage along highly traveled Hwy 321. The combination of building capacity and acreage supports operations that require both indoor workflow and outdoor staging.
For buyers looking for a flexible industrial platform, the dedicated office space and kitchen/area can accommodate administrative work and on-site staff needs alongside warehouse operations. The outdoor space can help manage equipment and fleet staging, supporting contractors and logistics-focused users. The overall configuration is designed to handle a range of industrial uses, from warehousing and distribution to light manufacturing and operational storage.
The property sits on over 6 acres with excellent visibility and road frontage along highly traveled Hwy 321. The combination of building capacity and acreage supports operations that require both indoor workflow and outdoor staging.
For buyers looking for a flexible industrial platform, the dedicated office space and kitchen/area can accommodate administrative work and on-site staff needs alongside warehouse operations. The outdoor space can help manage equipment and fleet staging, supporting contractors and logistics-focused users. The overall configuration is designed to handle a range of industrial uses, from warehousing and distribution to light manufacturing and operational storage.
Key Highlights
- Industrial warehouse facility on over 6 acres with road frontage along highly traveled Hwy 321
- Dedicated office space included within the warehouse
- Fully functional kitchen/area on site
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
$150,242
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
8.01%
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%
$3,004,840
$3.0M
Cap Rate 7%
$2,146,314
$2.1M
Cap Rate 9%
$1,669,356
$1.7M
Market Conditions
NOI Build-Up for 15,475 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
$250.7K $16.20/SF
− Vacancy
−$19.6K −$1.26/SF
EGI
$231.1K $14.94/SF
− OpEx
−$80.9K −$5.23/SF
NOI
$150.2K $9.71/SF
Area
Caldwell County, NC
Vacancy
7.80%
Lease Rate
$16.20 /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%
$3,004,840
Cap Rate 7%
$2,146,314
Cap Rate 9%
$1,669,356
Alternative Uses
Best Use
Flex RnD
$2.15M
$1.88M – $2.50M
NOI $150,242 @ 7.0% cap · market cap 8.01%
Second Best
Warehouse
$1.72M
$1.50M – $2.00M
NOI $120,137 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,204 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28638, NC
11,880
Population
4,961
Households
2.4
Avg Household Size
44
Median Age
19%
College-Educated
84%
High-School Grad
20.0 sq mi
ZIP Area
594
Density / Sq Mi
$58,914
Median Household Income
$36,330
Median Earnings
$693
Median Rent
$174,800
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 - Industrial warehouse with dedicated office space and room for outdoor storage and equipment parking.
Where is this flex space located?
The property is located at 2928 Hickory Blvd. Hudson, NC.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Industrial warehouse facility on over 6 acres with road frontage along highly traveled Hwy 321; Dedicated office space included within the warehouse; Fully functional kitchen/area on site
