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360 Old Salisbury-Concord Rd, Concord, NC
20,571 SF property with redevelopment potential on 6.27 acres.
Property Size20,571 SF
Lot Size7.39 Acres
Price / SF$140.98
Days on Market533
Property Features for 360 Old Salisbury-Concord Rd
General Information
Standard status
Active
Size
20,571 SF
Lot size
7.39 Acres
Property subtype
INDUSTRIAL
Listing Agency:
New Branch Real Estate Advisors
(704) 778-6100
Listed By:
Ryan Kinney, CCIM · License #295051
(704) 778-6100
Source:
Moodyscre
Added: Mar 4, 2025
Changed: Aug 8
Last Checked: Aug 18 at 8:55AM
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 New Branch Real Estate Advisors
Investment Insights
Based on property information with market context.
This commercial property, formerly the Sundrop Bottling Company, offers 20,571 square feet of space, including 18,265 square feet of warehouse/high-bay area and 2,306 square feet of office space. Situated on approximately 6.27 acres, the site allows for expansion or subdivision. The property features three drive-in doors and two dock-high doors with pit levelers. Zoned C-2 Commercial, the site is suitable for light industrial, retail, office space, and other uses. Multiple buildings on the property allow businesses to occupy one while leasing out the others, providing income potential. The property presents opportunities for utilizing the existing structures or redeveloping the site for retail.
Key Highlights
- 20,571 SF of total space (18,265 warehouse & 2,306 office)
- +/- 6.27 Acres with expansion or subdivision potential
- C‑2 Commercial Zoning allowing for diverse uses (light industrial, retail, office, etc.)
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
$245,746
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
8.47%
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%
$4,914,920
$4.9M
Cap Rate 7%
$3,510,657
$3.5M
Cap Rate 9%
$2,730,511
$2.7M
Market Conditions
NOI Build-Up for 20,571 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
$301.2K $14.64/SF
− Vacancy
−$12.0K −$0.59/SF
EGI
$289.1K $14.05/SF
− OpEx
−$43.4K −$2.11/SF
NOI
$245.7K $11.95/SF
Area
Concord, NC
Vacancy
4.00%
Lease Rate
$14.64 /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%
$4,914,920
Cap Rate 7%
$3,510,657
Cap Rate 9%
$2,730,511
Alternative Uses
Best Use
Warehouse
$3.51M
$3.07M – $4.10M
NOI $245,746 @ 7.0% cap · market cap 8.47%
Second Best
Industrial
$2.81M
$2.46M – $3.28M
NOI $196,991 @ 7.0% cap · market cap 6.79%
Theoretical Best
Specialty Retail
$5.61M
$4.91M – $6.54M
NOI $392,402 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Diverse Logistic Professionals — 138 Buffalo Ave NW, Concord, NC 28025
Frequently Asked Questions
What type of property is this?
Warehouse - 20,571 SF property with redevelopment potential on 6.27 acres.
Where is this warehouse located?
The property is located at 360 Old Salisbury-Concord Rd Concord, NC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 20,571 SF of total space (18,265 warehouse & 2,306 office); +/- 6.27 Acres with expansion or subdivision potential; C‑2 Commercial Zoning allowing for diverse uses (light industrial, retail, office, etc.)
