NNN-Leased Flex
3350 20th Ave SE, Newton, NC 28658
For Sale
Contact for pricing
Fully occupied under a net lease with scheduled annual rent increases.
Property Size25,137 SF
Lot Size1.61 Acres
Price / SF$63.65
Days on Market46
Property Features for 3350 20th Ave SE
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Asking Price
Cap Rate
Site & Location
Highway Access
Mixed-Use Components
Additional Details
Tenant in Place
Property Use
Building Details
Building Size
Tenancy
Listing Agency:
RED Partners
Listed By:
Jonathan Beall · License #NC 222916
(704) 962-0606
Source:
Crexi
Added: Sep 25
Changed: Nov 8
Last Checked: Nov 8 at 4:51PM
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 RED Partners
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Investment Insights
Based on property information with market context.
This 25,137-square-foot flex property occupies approximately 1.61 acres and is fully leased to Larsens, LLC on an NNN basis. The lease includes contractual annual rent increases of 2.0%. The facility supports industrial, warehouse, office, and retail uses.
Regional routes are accessible from the property, with Interstate 40 0.5 mile away and US Highway 321 5.5 miles away. The site is within an industrial corridor that includes regional and national businesses.
Regional routes are accessible from the property, with Interstate 40 0.5 mile away and US Highway 321 5.5 miles away. The site is within an industrial corridor that includes regional and national businesses.
Key Highlights
- 25,137 SF flex property on approximately 1.61 acres
- 100% occupied by Larsens, LLC under an NNN lease
- Contractual 2.0% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,851
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,637,020
$2.6M
Cap Rate 7%
$1,883,586
$1.9M
Cap Rate 9%
$1,465,011
$1.5M
Market Conditions
NOI Build-Up for 25,137 SF
Gross rent
$202.1K $8.04/SF
− Vacancy
−$13.7K −$0.55/SF
EGI
$188.4K $7.49/SF
− OpEx
−$56.5K −$2.25/SF
NOI
$131.9K $5.25/SF
Area
Catawba County, NC
Vacancy
6.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,637,020
Cap Rate 7%
$1,883,586
Cap Rate 9%
$1,465,011
Alternative Uses
Best Use
Flex RnD
$3.66M
$3.20M – $4.27M
NOI $256,144 @ 7.0% cap · market cap 16.01%
Second Best
Warehouse
$2.29M
$2.00M – $2.67M
NOI $160,105 @ 7.0% cap · market cap 10.01%
Theoretical Best
Office A
$7.34M
$6.43M – $8.57M
NOI $514,001 @ 7.0% cap · market cap 32.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28658, NC
26,453
Population
10,958
Households
2.4
Avg Household Size
42
Median Age
19%
College-Educated
88%
High-School Grad
71.3 sq mi
ZIP Area
371
Density / Sq Mi
$67,805
Median Household Income
$41,013
Median Earnings
$933
Median Rent
$192,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Fully occupied under a net lease with scheduled annual rent increases.
Where is this flex space located?
The property is located at 3350 20th Ave SE Newton, NC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 25,137 SF flex property on approximately 1.61 acres; 100% occupied by Larsens, LLC under an NNN lease; Contractual 2.0% annual rent increases
