Multi-Use Industrial
416 Millstone Dr Hillsborough, NC 27278
416 Millstone Dr, Hillsborough, NC, 27278
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For Sale
Contact for pricing
Industrial building with 13–22-foot ceilings, one loading dock with two levelers, and fully conditioned interior space.
Property Size14,221 SF
Lot Size2.32 Acres
Price / SF$182.83
Days on Market140
Property Features for 416 Millstone Dr
General Information
- Standard status
- Active
- Size
- 14,221 SF
- Lot size
- 2.32 Acres
- Property subtype
- Industrial
Listing agency
Pickett Sprouse Commercial Real Estate
(919) 381-9456
Listed by
Matthew Morton · License #356757
Source
Crexi
Added: Mar 3 Updated: Jul 20 at 11:55PM Checked: Jul 20 at 11:55PM
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 Pickett Sprouse Commercial Real Estate
Investment Insights
Based on property information with market context.
This multi-use industrial facility offers flexible space for a variety of operational needs. The building features ceiling heights ranging from 13 to 22 feet, a fully conditioned interior, and one loading dock door equipped with two levelers. Layout and improvements are suited to users seeking a blend of office and functional workspace, including manufacturing, warehousing, order fulfillment, trade contractors, or professional service operations.
The property is located at 416 Millstone Drive in an established Economic Development District. Set on 2.32 acres with ample parking and yard area, it is positioned for convenient regional access with close proximity to I-40 and I-85.
For sale or lease, the facility provides a practical industrial configuration supported by conditioned interior space and the included dock equipment for receiving and distribution activities.
The property is located at 416 Millstone Drive in an established Economic Development District. Set on 2.32 acres with ample parking and yard area, it is positioned for convenient regional access with close proximity to I-40 and I-85.
For sale or lease, the facility provides a practical industrial configuration supported by conditioned interior space and the included dock equipment for receiving and distribution activities.
Key Highlights
- 14,221 SF industrial facility with fully conditioned interior and flexible layout for manufacturing, warehousing, or trade/professional services
- Ceiling heights range from 13 to 22 feet
- One loading dock door with two levelers
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $285.0k | $20.04 |
| − Vacancy | −$16.5k | −$1.16 |
| EGI | $268.5k | $18.88 |
| − OpEx | −$80.5k | −$5.66 |
| NOI | $187.9k | $13.21 |
14,221 SF · lease $20.04/SF/yr · vacancy 5.80% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.68M
$2.35M – $3.13M
NOI $187,922 @ 7.0% cap · market cap 7.23%
Second Best
Flex RnD
$2.51M
$2.20M – $2.93M
NOI $175,981 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$4.59M
$4.02M – $5.36M
NOI $321,448 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Johnny T-Shirt the Carolina
Clothing Store
Similar For Sale Nearby
Similar Off Market Nearby
- Govinda's Catering — Hillsborough, NC 27278
FAQs
What type of property is this?
Flex space - Industrial building with 13–22-foot ceilings, one loading dock with two levelers, and fully conditioned interior space.
Where is this flex space located?
The property is located at 416 Millstone Dr Hillsborough, NC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 14,221 SF industrial facility with fully conditioned interior and flexible layout for manufacturing, warehousing, or trade/professional services; Ceiling heights range from 13 to 22 feet; One loading dock door with two levelers
