Graham Industrial Flex
For Sale
$365,000
420 Shoffner, Graham, NC 27253
2,000 SF industrial building with flexible space in Graham.
Property Size2,000 SF
Price / SF$182.50
Days on Market95
Property Features for 420 Shoffner
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Building Details
Year Built
1997
Listing Agency:
GROW LOCAL REALTY, LLC
(919) 830-5233
Listed By:
NICHOLAS S YARRINGTON · License #238601
Source:
Corcoran
Added: May 27
Changed: Jul 10
Last Checked: Aug 29 at 7:22AM
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 GROW LOCAL REALTY, LLC
Investment Insights
Based on property information with market context.
This 2,000 square foot industrial building offers flexible space suitable for a variety of business uses, storage, workshop operations, or light industrial needs. The property is located in a convenient Graham location with easy access to Highway 70 and downtown Graham, providing accessibility and visibility.
Key Highlights
- Convenient Graham location with easy access to Highway 70 and downtown Graham.
- 2,000 square foot industrial building.**
- Flexible space ideal for various business uses.
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
$15,423
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
4.23%
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%
$308,460
$308.5K
Cap Rate 7%
$220,329
$220.3K
Cap Rate 9%
$171,367
$171.4K
Market Conditions
NOI Build-Up for 2,000 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
$26.2K $13.08/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$23.7K $11.86/SF
− OpEx
−$8.3K −$4.15/SF
NOI
$15.4K $7.71/SF
Area
Alamance County, NC
Vacancy
9.30%
Lease Rate
$13.08 /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%
$308,460
Cap Rate 7%
$220,329
Cap Rate 9%
$171,367
Alternative Uses
Best Use
Flex RnD
$220.3K
$192.8K – $257.1K
NOI $15,423 @ 7.0% cap · market cap 4.23%
Second Best
Industrial
$112.5K
$98.4K – $131.2K
NOI $7,873 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$659.4K
$577.0K – $769.3K
NOI $46,158 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27253, NC
32,010
Population
14,821
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
88%
High-School Grad
81.9 sq mi
ZIP Area
391
Density / Sq Mi
$62,020
Median Household Income
$39,307
Median Earnings
$975
Median Rent
$212,300
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?
Flex space - 2,000 SF industrial building with flexible space in Graham.
Where is this flex space located?
The property is located at 420 Shoffner Graham, NC.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Convenient Graham location with easy access to Highway 70 and downtown Graham.; 2,000 square foot industrial building.**; Flexible space ideal for various business uses.
