Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    374 Industrial Park Drive Boone, NC 28607

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,400,000

    45,538 SF building on 5.01-acre lot for sale.

    Type:Commercial
    Property size:
    45,538 SF
    Lot size:
    5.01 Acres
    Added:
    Sep 19, 2025
    Days on Market:
    195
    Last Refresh:
    Mar 26 at 1:04 am

    Property Features for 374 Industrial Park Drive

    General Information

    Standard status
    Active
    Size
    45,538 SF
    Lot size
    5.01 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    IVAN ROTEN

    Listing agent IVAN ROTEN

    Listing office GRASHAL PROPERTIES, LLC

    Listing date Sep 19, 2025

    Source Corcoran

    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 GRASHAL PROPERTIES, LLC

    Overview

    Watauga County Industrial Park Property

    Located in Watauga County Industrial Park, this 45,538 square foot pre-engineered metal building is situated on a 5.01-acre lot. Constructed in two phases, approximately in 1994 and 2001, the building previously served as the corporate headquarters and distribution center for Cheap Joe's Art Stuff, Inc. The property features a large office suite, production and manufacturing areas, an open warehouse area, retail space, a conference area, and a loading dock. There are approximately 65 marked parking spaces, with additional unmarked parking available in the back lot. The majority of the property is level, and a sizable area is available for additional parking or building expansion. Zoned M-1, Light Industrial, by the Town of Boone, the property allows for various permissible uses under that zoning classification.
    Location Intelligence

    Current Use by Public Records

    Cheap Joe's Art ... (Bike/Boat/Book/etc) Store Artist Palette Productions Art Gallery

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boone
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.6421
    Latitude
    36.222

    Nearby Similar for Sale

    • $995,000

      Versatile Commercial Building in Boone

      7,362 SF multi-use building with rental income potential.
      1345 Poplar Grove Road S, Boone, NC 28607
      View Details
    • $999,999

      Downtown Boone Commercial Building For Sale

      Historic downtown Boone commercial building with high visibility and foot traffic.
      890 W King Street, Boone, NC 28607
      View Details
    • $1,188,725

      Boone Commercial/Light Industrial Property

      Versatile property with redevelopment potential near Highway 421.
      646 Roby Greene Road, Boone, NC 28607
      View Details
    • $100,000

      Established Construction Business Opportunity

      Successful construction business with 40-year legacy for sale.
      1345 Poplar Grove Road S, Boone, NC 28607
      View Details
    • $799,000
      900 SF

      Remodeled Commercial Building in Boone

      Newly remodeled commercial building with modern amenities near the hospital.
      232 Furman Road, Boone, NC 28607
      View Details
    • $1,350,000

      Updated Office Condo Near Hospital

      Updated office condominium near Watauga Medical Center.
      610 State Farm Road #3, Boone, NC 28607
      View Details
    • $195,000
      1,200 SF

      Established Coffee Shop in Boone, NC

      Turnkey coffee shop with mobile espresso cart in Boone.
      188 Boone Heights Dr, Boone, NC 28607
      View Details
    • $1,600,000
      5,800 SF

      Prime Retail Space in Boone

      Renovated retail space in historic downtown Boone.
      713 W King Street, Boone, NC 28607
      View Details
    • $3,434,000
      5,780 SF

      New Construction Ground Lease Opportunity

      New construction NNN ground lease in a dense retail corridor.
      187 Watauga Village Dr, Boone, NC 28607
      View Details
    • $11,000,000
      74,501 SF

      Blue Skies Storage Facility

      Storage facility with office and parking space in Boone, NC.
      482 State Farm Rd, Boone, NC 28607
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 45,538 SF building on 5.01-acre lot for sale.
    Where is this manufacturing property located?
    The property is located at 374 Industrial Park Drive Boone, NC.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: Large 45,538 SF pre‑engineered metal building suitable for various uses; Located in Watauga County Industrial Park on a 5.01‑acre lot; Zoned M‑1, Light Industrial, by the Town of Boone, allowing for various permissible uses
    (828) 719-7581
    We can help!
    Listing Contact
    IVAN ROTEN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!