Flex Space with Two-Bay
For Sale
$379,000
3840 Legion Road, Hope Mills, NC 28348
CommercialSale, Hope Mills, NC
Property Size2,700 SF
Lot Size3.00 Acres
Price / SF$140.37
Days on Market304
Property Features for 3840 Legion Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C2P - Central Business
Lot features
Three To Five Acres, Cleared
Directions
From Cross Creek Mall-Turn right onto Skibo Rd/US-401 Byp N. Turn right onto Skibo Rd/US-401 Byp N. Turn right onto All American Fwy S toward Coliseum Complex. Keep left at All American Fwy S. Follow All American Fwy S. Turn sharp right onto Cumberland Rd. Turn left onto Natal St. Turn right onto Legion Rd. Turn right. Turn left. You have arrived. Your destination is on the right
Standard status
Active
APN
0425-21-1045
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
3 ACRES FAULKNER LD
Legal Description
3 ACRES FAULKNER LD
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Building Details
Building materials
Brick
Listing Agency:
GRANT-MURRAY HOMES
(910) 758-8322
Listed By:
RAYMOND SHARP · License #258881
(910) 987-7511
Added: Oct 22, 2025
Changed: Aug 19
Last Checked: Aug 21 at 5:06AM
MLS# 752256
Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-style property sits on a 3-acre parcel and includes approximately 1,700 sq. ft. of office/showroom space and a separate 1,000 sq. ft. two-bay workshop. The office/showroom area is laid out with six offices and three bathrooms, along with multiple spaces suited for conference and small group meetings. The workshop provides two bays with roll-up doors, supporting day-to-day service, light industrial, and operational needs that benefit from direct access.
The site is located at 3840 Legion Road in Hope Mills, NC, with approximately 200 feet of frontage on the 4-lane Legion Road. The property is described as having convenient access to regional routes, and the parcel size supports practical site usage such as parking, outdoor storage, or potential expansion, subject to applicable local planning.
For buyers and operators, the combination of dedicated meeting space and multiple offices alongside a roll-up door workshop can fit a range of business models that need both client-facing space and functional warehouse or service capacity. The existing structures may also help reduce build-out scope compared with starting from raw land, whether you plan to move in with a renovation/adaptive reuse approach or tailor improvements to your specific operation.
The site is located at 3840 Legion Road in Hope Mills, NC, with approximately 200 feet of frontage on the 4-lane Legion Road. The property is described as having convenient access to regional routes, and the parcel size supports practical site usage such as parking, outdoor storage, or potential expansion, subject to applicable local planning.
For buyers and operators, the combination of dedicated meeting space and multiple offices alongside a roll-up door workshop can fit a range of business models that need both client-facing space and functional warehouse or service capacity. The existing structures may also help reduce build-out scope compared with starting from raw land, whether you plan to move in with a renovation/adaptive reuse approach or tailor improvements to your specific operation.
Key Highlights
- 3‑acre commercial parcel at 3840 Legion Rd in Hope Mills with approximately 200 ft of frontage on a 4‑lane road
- Includes 1,700 SF office/showroom with 6 offices and 3 bathrooms
- Office/showroom provides conference and small group meeting spaces
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
$27,479
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
7.25%
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%
$549,580
$549.6K
Cap Rate 7%
$392,557
$392.6K
Cap Rate 9%
$305,322
$305.3K
Market Conditions
NOI Build-Up for 2,700 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
$42.1K $15.60/SF
− Vacancy
−$2.9K −$1.06/SF
EGI
$39.3K $14.54/SF
− OpEx
−$11.8K −$4.36/SF
NOI
$27.5K $10.18/SF
Area
Cumberland County, NC
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$549,580
Cap Rate 7%
$392,557
Cap Rate 9%
$305,322
Alternative Uses
Best Use
Office B
$504.1K
$441.1K – $588.1K
NOI $35,284 @ 7.0% cap · market cap 9.31%
Second Best
Industrial
$392.6K
$343.5K – $458.0K
NOI $27,479 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$645.2K
$564.5K – $752.7K
NOI $45,163 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28348, NC
37,476
Population
14,413
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
93%
High-School Grad
42.2 sq mi
ZIP Area
888
Density / Sq Mi
$65,213
Median Household Income
$39,270
Median Earnings
$1,111
Median Rent
$203,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Friends Upscale Catering — 3739 Legion Rd, Hope Mills, NC 28348
Frequently Asked Questions
What type of property is this?
Flex space - Flex property with office/showroom buildout and a two-bay workshop with roll-up doors on a 4-lane road.
Where is this flex space located?
The property is located at 3840 Legion Road Hope Mills, NC.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 3‑acre commercial parcel at 3840 Legion Rd in Hope Mills with approximately 200 ft of frontage on a 4‑lane road; Includes 1,700 SF office/showroom with 6 offices and 3 bathrooms; Office/showroom provides conference and small group meeting spaces
