Flex Building with Office
For Sale
$850,000
420 Hwy 15-501, Carthage, NC 28327
COMMERCIAL - Carthage, NC
Property Size4,800 SF
Lot Size1.47 Acres
Price / SF$177.08
Days on Market86
Property Features for 420 Hwy 15-501
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Directions
Located at the corner of US 15-501 and Stanton Hill Road in Carthage.
Standard status
Active
APN
20090077
Lot size
1.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT & BLDG
Legal Description
LOT & BLDG
Utilities
Heating system
Electric (Heating)
Amenities
five private offices
conference room
reception area
lobby
kitchen
two restrooms
generator for backup power
Building Details
Year built
1993
Listing Agency:
Everything Pines Commercial
(717) 579-7250
Listed By:
Kristina Beversdorf · License #337190
(717) 579-7250
Added: May 26
Changed: Aug 19
Last Checked: Aug 19 at 10:06PM
MLS# 100576735
Copyright © 2026 Hive MLS. 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.
Located at 420 Hwy 15-501 in Carthage, this 4,800 +/- SF metal flex building was constructed in 1993 and is zoned B-1. The property combines finished office areas with warehouse space and is served by two electric heat pump systems for heating and cooling. Office improvements include five private offices, a conference room, reception area, lobby, kitchen, and two restrooms.
The warehouse area has three 8' x 8' overhead doors, supporting convenient equipment and material access. A generator provides backup power for the building. Its direct position on US Hwy 15-501 places the property along a named U.S. highway corridor in Carthage, NC.
The warehouse area has three 8' x 8' overhead doors, supporting convenient equipment and material access. A generator provides backup power for the building. Its direct position on US Hwy 15-501 places the property along a named U.S. highway corridor in Carthage, NC.
Key Highlights
- 4,800 +/- SF metal flex building constructed in 1993
- Five private offices, conference room, reception area, lobby, kitchen, and two restrooms
- Warehouse includes three 8' x 8' overhead doors
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
$49,018
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
5.77%
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%
$980,360
$980.4K
Cap Rate 7%
$700,257
$700.3K
Cap Rate 9%
$544,644
$544.6K
Market Conditions
NOI Build-Up for 4,800 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
$81.8K $17.04/SF
− Vacancy
−$6.4K −$1.33/SF
EGI
$75.4K $15.71/SF
− OpEx
−$26.4K −$5.50/SF
NOI
$49.0K $10.21/SF
Area
Moore County, NC
Vacancy
7.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
35.00%
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%
$980,360
Cap Rate 7%
$700,257
Cap Rate 9%
$544,644
Alternative Uses
Best Use
Flex RnD
$700.3K
$612.7K – $817.0K
NOI $49,018 @ 7.0% cap · market cap 5.77%
Second Best
Office B
$505.4K
$442.3K – $589.7K
NOI $35,381 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$914.6K
$800.3K – $1.07M
NOI $64,024 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28327, NC
18,118
Population
7,874
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
94%
High-School Grad
186.6 sq mi
ZIP Area
97
Density / Sq Mi
$84,850
Median Household Income
$43,066
Median Earnings
$1,362
Median Rent
$299,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled commercial building combines private offices, shared meeting areas, and warehouse functionality.
Where is this flex space located?
The property is located at 420 Hwy 15-501 Carthage, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,800 +/- SF metal flex building constructed in 1993; Five private offices, conference room, reception area, lobby, kitchen, and two restrooms; Warehouse includes three 8' x 8' overhead doors
