Multi-Tenant Office/Warehouse
431 Morgan Mill Rd Monroe, NC 28110
431 Morgan Mill Rd, Monroe, NC, 28110
$1,125,000
For Sale
$1,125,000
Multi-tenant office/warehouse building offering unit sizes ranging from about 2,000 to 8,000 SF.
Property Size8,000 SF
Price / SF$140.63
Days on Market153
Property Features for 431 Morgan Mill Rd
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 1988
Properties For Sale
at 431 Morgan Mill Rd Contact us
Listing Agency
MW Commercial Realty, LLC
(704) 634-7429
Listed by
Mark Wright · License #188484
(704) 634-7429
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 20 at 6:22 pm Checked: Jul 20 at 6:22 pm
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 MW Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This multi-tenant office/warehouse building includes office and warehouse space and is offered for sale or lease. Available unit configurations range from approximately 2,000 to 8,000 SF, with Unit C currently occupied and requiring a 90-day notice to move out.
The property is located on Morgan Mill Rd, about 0.1 mile off Hwy 74 in Monroe, North Carolina, and is approximately 2 miles from the Monroe Bypass.
Current zoning is OM (office medical), which allows a variety of office uses. The remarks also indicate potential for rezoning to GB based on adjacent zoning.
The property is located on Morgan Mill Rd, about 0.1 mile off Hwy 74 in Monroe, North Carolina, and is approximately 2 miles from the Monroe Bypass.
Current zoning is OM (office medical), which allows a variety of office uses. The remarks also indicate potential for rezoning to GB based on adjacent zoning.
Key Highlights
- ±8,000 SF multi‑tenant office/warehouse building built in 1988
- Unit sizes range from about 2,000 to 8,000 SF
- Located on Morgan Mill Rd, about 0.1 mile off Hwy 74 and about 2 miles from the Monroe Bypass
Local Financial Insights For Flex RnD
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 | $151.7k | $18.96 |
| − Vacancy | −$9.1k | −$1.14 |
| EGI | $142.6k | $17.82 |
| − OpEx | −$49.9k | −$6.24 |
| NOI | $92.7k | $11.58 |
8,000 SF · lease $18.96/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,836 @ 7.0% cap · market cap 11.10%
Second Best
Flex RnD
$1.32M
$1.16M – $1.54M
NOI $92,676 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,973 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Iglesia Centro de ...
Church
Medlins Auto Repair
Auto Repair Shop
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FAQs
What type of property is this?
Flex space - Multi-tenant office/warehouse building offering unit sizes ranging from about 2,000 to 8,000 SF.
Where is this flex space located?
The property is located at 431 Morgan Mill Rd Monroe, NC.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: ±8,000 SF multi‑tenant office/warehouse building built in 1988; Unit sizes range from about 2,000 to 8,000 SF; Located on Morgan Mill Rd, about 0.1 mile off Hwy 74 and about 2 miles from the Monroe Bypass
