Building Details

Year Built 1987

Listing Agency: c***@gmail.com Show Phone

Listed By: Celis Show Phone

Added: Aug 12, 2022 Changed: Aug 26

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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

$39,643

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

5.12%

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%

$792,860 $792.9K

Cap Rate 7%

$566,329 $566.3K

Cap Rate 9%

$440,478 $440.5K

Market Conditions

NOI Build-Up for 3,000 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

$60.1K $20.04/SF

− Vacancy

−$3.5K −$1.16/SF

EGI

$56.6K $18.88/SF

− OpEx

−$17.0K −$5.66/SF

NOI

$39.6K $13.21/SF

Area

Chatham County, NC

Vacancy

5.80%

Lease Rate

$20.04 /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%

$792,860

Cap Rate 7%

$566,329

Cap Rate 9%

$440,478

Alternative Uses

Best Use

Industrial

$566.3K

$495.5K – $660.7K (±1% cap)

NOI $39,643 @ 7.0% cap · market cap 5.12%

Second Best

Retail

$499.5K

$437.1K – $582.8K (±1% cap)

NOI $34,965 @ 7.0% cap · market cap 4.51%

Theoretical Best

Office A

$968.7K

$847.6K – $1.13M (±1% cap)

NOI $67,811 @ 7.0% cap · market cap 8.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Ramsey's Mill Tour Operator Gunter Automotive Auto Repair Shop

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 27559, NC

2,412

Population

1,246

Households

1.9

Avg Household Size

47

Median Age

27%

College-Educated

91%

High-School Grad

50.6 sq mi

ZIP Area

48

Density / Sq Mi

$63,750

Median Household Income

$40,611

Median Earnings

$1,341

Median Rent

$347,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Similar Off Market Nearby

• Gunter Automotive — 30 Lockville Rd, Moncure, NC 27559
• Kitty’s Mobile Repair — 196 Jordan Dam Rd Suite 607, Moncure, NC 27559

Frequently Asked Questions

What type of property is this?

Auto shop - Metal-sided commercial building with paved parking, multiple overhead doors, and Commercial/Light Industrial zoning.

Where is this auto shop located?

The property is located at 30 Lockville Rd Moncure, NC.

What is the asking price?

The asking price for this property is $775,000.