Flex Space With Detached
For Sale
$335,000
3140 Legion Road, Hope Mills, NC 28348
CommercialSale, Hope Mills, NC
Property Size1,014 SF
Lot Size0.38 Acres
Price / SF$330.37
Days on Market155
Property Features for 3140 Legion Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C1P - Shopping Center District
Subdivision
WESTCHESTER
Lot features
Quarter To Half Acre Lot, Cleared
Directions
Property is near the intersection of Legion Road and Mid Pine Road/Black and Decker Road. Turn left off Black and Decker Road, stay in right turning lane. Property is less than 100 ft on Legion Road on right after Dollar General.
Standard status
Active
APN
0425-46-7054.000
Size
1,014 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Description
WESTCHESTER LO:LT 1 SE:04 BL:X PL:0027-0083
Legal Description
WESTCHESTER LO:LT 1 SE:04 BL:X PL:0027-0083
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Building materials
Brick, VinylSiding
Roof type
Shingle
Listing Agency:
EXIT REALTY PREFERRED
(910) 904-7355
Listed By:
ANTHONY RAY SHERRILL · License #353597
(804) 929-4071
Added: Mar 25
Changed: Aug 19
Last Checked: Aug 26 at 6:06PM
MLS# 758952
Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,014-square-foot flex property occupies 0.38 acres and combines an open front area with multiple enclosed rooms suitable for offices, consultation rooms, or work areas. A kitchen and break area support daily operations. The building has brick and vinyl siding construction, a shingle roof, central air, heat-pump heating, public water, and public sewer. Built in 1964, it also features a new roof and a flexible interior arrangement.
The property fronts Legion Road in Hope Mills and is positioned beside a newly opened Dollar General, with additional established businesses nearby. Paved parking is located at the front, with more parking along the side and drive-around access to the rear. Rear improvements include a detached three-bay wooden garage and a separate two-car garage/storage area.
The property fronts Legion Road in Hope Mills and is positioned beside a newly opened Dollar General, with additional established businesses nearby. Paved parking is located at the front, with more parking along the side and drive-around access to the rear. Rear improvements include a detached three-bay wooden garage and a separate two-car garage/storage area.
Key Highlights
- 1,014 square feet on 0.38 acres
- Frontage on Legion Road in Hope Mills, NC 28348
- Detached three‑bay wooden garage plus two‑car garage/storage area
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
$13,251
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
3.96%
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%
$265,020
$265.0K
Cap Rate 7%
$189,300
$189.3K
Cap Rate 9%
$147,233
$147.2K
Market Conditions
NOI Build-Up for 1,014 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
$18.3K $18.00/SF
− Vacancy
−$584 −$0.58/SF
EGI
$17.7K $17.42/SF
− OpEx
−$4.4K −$4.36/SF
NOI
$13.3K $13.07/SF
Area
Cumberland County, NC
Vacancy
3.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$265,020
Cap Rate 7%
$189,300
Cap Rate 9%
$147,233
Alternative Uses
Best Use
Office B
$189.3K
$165.6K – $220.9K
NOI $13,251 @ 7.0% cap · market cap 3.96%
Second Best
Industrial
$147.4K
$129.0K – $172.0K
NOI $10,320 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$242.3K
$212.0K – $282.7K
NOI $16,961 @ 7.0% cap · market cap 5.06%
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
178
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28348, NC
37,476
Population
14,413
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
93%
High-School Grad
42.2 sq mi
ZIP Area
888
Density / Sq Mi
$65,213
Median Household Income
$39,270
Median Earnings
$1,111
Median Rent
$203,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Donna'sPallet — 3037 White Ash Dr, Fayetteville, NC 28306, United States
Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial property with offices, open workspace, and paved parking.
Where is this flex space located?
The property is located at 3140 Legion Road Hope Mills, NC.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,014 square feet on 0.38 acres; Frontage on Legion Road in Hope Mills, NC 28348; Detached three‑bay wooden garage plus two‑car garage/storage area
