Belmont Industrial Property For
For Sale
Contact for pricing
408 Brook St, Belmont, NC 28012
54,600 SqFt industrial property with 5.75% CAP rate.
Property Size54,600 SF
Price / SF$174.91
Days on Market193
Property Features for 408 Brook St
General Information
Standard status
Active
Size
54,600 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2002
Year Renovated
2025
Tenancy
Single
Listing Agency:
NorthMarq
(980) 895-3178
Listed By:
Nolan Dunn · License #335639
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 13 at 11:45AM
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 NorthMarq
Investment Insights
Based on property information with market context.
This industrial property, encompassing 54,600 square feet, is available for sale. The property has a capitalization rate of 5.75%.
Key Highlights
- 54,600 SqFt Industrial Space
- 5.75% CAP Rate
- Built in 2002
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
$396,806
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
4.16%
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%
$7,936,120
$7.9M
Cap Rate 7%
$5,668,657
$5.7M
Cap Rate 9%
$4,408,956
$4.4M
Market Conditions
NOI Build-Up for 54,600 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
$491.4K $9.00/SF
− Vacancy
−$24.6K −$0.45/SF
EGI
$466.8K $8.55/SF
− OpEx
−$70.0K −$1.28/SF
NOI
$396.8K $7.27/SF
Area
Gaston 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%
$7,936,120
Cap Rate 7%
$5,668,657
Cap Rate 9%
$4,408,956
Alternative Uses
Best Use
Warehouse
$5.67M
$4.96M – $6.61M
NOI $396,806 @ 7.0% cap · market cap 4.16%
Second Best
Industrial
$5.14M
$4.50M – $6.00M
NOI $359,734 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$17.18M
$15.04M – $20.05M
NOI $1,202,947 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28012, NC
26,202
Population
11,511
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
92%
High-School Grad
27.3 sq mi
ZIP Area
960
Density / Sq Mi
$81,057
Median Household Income
$48,901
Median Earnings
$1,288
Median Rent
$324,400
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 - 54,600 SqFt industrial property with 5.75% CAP rate.
Where is this warehouse located?
The property is located at 408 Brook St Belmont, NC.
What is the asking price?
The asking price for this property is $9,550,000.
What are key features of this property?
This property features: 54,600 SqFt Industrial Space; 5.75% CAP Rate; Built in 2002
