Functional Warehouse with Strategic
For Sale
$2,700,000
3213 Westwood Industrial Drive, Monroe, NC 28110
18,000 SF warehouse with office space and convenient location.
Property Size18,000 SF
Price / SF$150
Days on Market283
Property Features for 3213 Westwood Industrial Drive
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Commercial
Amenities
Cleared
Building Details
Year Built
2009
Listing Agency:
MW COMMERCIAL REALTY LLC
(704) 634-7429
Listed By:
EMILY CLINE · License ##303799
Source:
Corcoran
Added: Nov 10, 2025
Changed: Aug 19
Last Checked: Aug 20 at 4:28AM
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 MW COMMERCIAL REALTY LLC
Investment Insights
Based on property information with market context.
The property at 3213 Westwood Industrial Drive features 18,000 square feet of space, including 1,800 square feet of office area and 16,200 square feet of warehouse space. The warehouse includes two drive-in doors: one oversized at 20 feet by 20 feet, and another at 12 feet by 12 feet. The interior provides clear heights ranging from 16 feet to 20 feet at the eaves. It is equipped with a fully sprinklered system, air compression lines, and heavy-duty power. The property is located just off Rocky River Road, providing connectivity to Highway 74 and the Monroe Expressway (Bypass), allowing for transportation throughout the Charlotte region. This facility is suited for manufacturing, fabrication, or storage uses.
Key Highlights
- Excellent regional access via Highway 74 and the Monroe Expressway.
- 16,200 SF of warehouse space with 16’–20’ clear heights.
- Equipped with two drive‑in doors, including one oversized 20’ x 20’ door.
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
$130,815
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
4.85%
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%
$2,616,300
$2.6M
Cap Rate 7%
$1,868,786
$1.9M
Cap Rate 9%
$1,453,500
$1.5M
Market Conditions
NOI Build-Up for 18,000 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
$162.0K $9.00/SF
− Vacancy
−$8.1K −$0.45/SF
EGI
$153.9K $8.55/SF
− OpEx
−$23.1K −$1.28/SF
NOI
$130.8K $7.27/SF
Area
Union County, NC
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,616,300
Cap Rate 7%
$1,868,786
Cap Rate 9%
$1,453,500
Alternative Uses
Best Use
Warehouse
$1.87M
$1.64M – $2.18M
NOI $130,815 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.56M
$4.86M – $6.49M
NOI $389,189 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
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?
Warehouse - 18,000 SF warehouse with office space and convenient location.
Where is this warehouse located?
The property is located at 3213 Westwood Industrial Drive Monroe, NC.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Excellent regional access via Highway 74 and the Monroe Expressway.; 16,200 SF of warehouse space with 16’–20’ clear heights.; Equipped with two drive‑in doors, including one oversized 20’ x 20’ door.
