Class A Manufacturing
New
For Sale
Contact for pricing
320 West Aviation Drive, Statesville, NC 28677
Purpose-built industrial building with dedicated production, fabrication, paint, office, lobby, and mezzanine areas.
Property Size57,899 SF
Price / SF$158.03
Days on Market7
Property Features for 320 West Aviation Drive
General Information
Standard status
Active
Size
57,899 SF
Class
A
Total Parking Spaces
53
Property subtype
Industrial
Lease Type
NNN
Additional Details
Highway Access
Yes
Building Details
Year Built
2001
Buildings
1
Tenancy
Single
Building Size
57,899 SF
Listing Agency:
One Alliance Companies
(704) 618-6234
Listed By:
Leah Parker · License #NC
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 18 at 9:08AM
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 One Alliance Companies
Investment Insights
Based on property information with market context.
This ±57,899 SF Class A industrial facility combines specialized production space with finished administrative areas. The 46,818 SF main shop includes dedicated areas for fabrication, painting, machining, parts storage, and race-shop operations. An additional 11,081 SF contains finished office, lobby, and mezzanine space. Constructed in 2001, the property was purpose-built for a professional race team and is suited to manufacturing or logistics operations based on its existing configuration.
The facility is located directly across from Statesville Regional Airport (KSVH), providing access to general aviation for passenger and freight movement. It is within 2 miles of I-40 and 5 miles of I-77, in an industrial corridor serving the Charlotte region.
The facility is located directly across from Statesville Regional Airport (KSVH), providing access to general aviation for passenger and freight movement. It is within 2 miles of I-40 and 5 miles of I-77, in an industrial corridor serving the Charlotte region.
Key Highlights
- ±57,899 SF Class A industrial facility
- 46,818 SF main shop with fabrication, paint, machine shop, parts storage, and race‑shop areas
- 11,081 SF of finished office, lobby, and mezzanine space
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
$670,734
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
7.33%
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%
$13,414,680
$13.4M
Cap Rate 7%
$9,581,914
$9.6M
Cap Rate 9%
$7,452,600
$7.5M
Market Conditions
NOI Build-Up for 57,899 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
$1.10M $18.96/SF
− Vacancy
−$65.9K −$1.14/SF
EGI
$1.03M $17.82/SF
− OpEx
−$361.2K −$6.24/SF
NOI
$670.7K $11.58/SF
Area
Iredell 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%
$13,414,680
Cap Rate 7%
$9,581,914
Cap Rate 9%
$7,452,600
Alternative Uses
Best Use
Flex RnD
$9.58M
$8.38M – $11.18M
NOI $670,734 @ 7.0% cap · market cap 7.33%
Second Best
Industrial
$5.45M
$4.77M – $6.36M
NOI $381,470 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$18.22M
$15.95M – $21.26M
NOI $1,275,631 @ 7.0% cap · market cap 13.94%
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
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
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?
Manufacturing property - Purpose-built industrial building with dedicated production, fabrication, paint, office, lobby, and mezzanine areas.
Where is this manufacturing property located?
The property is located at 320 West Aviation Drive Statesville, NC.
What is the asking price?
The asking price for this property is $9,150,000.
What are key features of this property?
This property features: ±57,899 SF Class A industrial facility; 46,818 SF main shop with fabrication, paint, machine shop, parts storage, and race‑shop areas; 11,081 SF of finished office, lobby, and mezzanine space
