Flex Industrial
For Sale
$359,000
420 Shoffner Street, Graham, NC 27253
Commercial Sale, Graham, NC
Property Size2,000 SF
Lot Size0.79 Acres
Price / SF$179.50
Days on Market97
Property Features for 420 Shoffner Street
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
146942
Size
2,000 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Bl 420 Shoffner St 181-729-110
Tax Annual Amount
633
Legal Description
Bl 420 Shoffner St 181-729-110
Building Details
Year built
1997
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Listing Agency:
Grow Local Realty, LLC
(919) 830-5233
Listed By:
Nicholas S Yarrington · License #238601
(910) 639-4890
Added: May 26
Changed: Aug 19
Last Checked: Aug 30 at 5:06PM
MLS# 10169732
Copyright © 2026 Doorify 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.
This 2,000-square-foot flex industrial building was constructed in 1997 and features metal siding with concrete flooring. The property occupies 0.79 acres and offers a practical configuration for storage, workshop operations, or light industrial use.
Located in Graham, the property provides access to Highway 70 and downtown Graham. Its combination of building area, land, and durable materials supports a range of small-business operations requiring functional commercial space.
Located in Graham, the property provides access to Highway 70 and downtown Graham. Its combination of building area, land, and durable materials supports a range of small-business operations requiring functional commercial space.
Key Highlights
- 2,000‑square‑foot industrial building on 0.79 acres
- Built in 1997 with metal siding
- Concrete flooring throughout the building
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
$15,790
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
4.40%
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%
$315,800
$315.8K
Cap Rate 7%
$225,571
$225.6K
Cap Rate 9%
$175,444
$175.4K
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
$20.2K $10.10/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$18.6K $9.29/SF
− OpEx
−$2.8K −$1.39/SF
NOI
$15.8K $7.89/SF
Area
Alamance County, NC
Vacancy
8.04%
Lease Rate
$10.10 /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%
$315,800
Cap Rate 7%
$225,571
Cap Rate 9%
$175,444
Alternative Uses
Best Use
Warehouse
$225.6K
$197.4K – $263.2K
NOI $15,790 @ 7.0% cap · market cap 4.40%
Second Best
Flex RnD
$220.3K
$192.8K – $257.1K
NOI $15,423 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$659.4K
$577.0K – $769.3K
NOI $46,158 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Metal-sided commercial building with concrete floors and adaptable space for storage, workshop, or light industrial operations.
Where is this flex space located?
The property is located at 420 Shoffner Street Graham, NC.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 2,000‑square‑foot industrial building on 0.79 acres; Built in 1997 with metal siding; Concrete flooring throughout the building
