Listing Agency: Kent Hunter Realty k***@gmail.com Show Phone

Listed By: Kent Hunter · License #268274 Show Phone

Source: Moodyscre

Added: Aug 17 Changed: Aug 20 Last Checked: Aug 20 at 10:02AM

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Investment Insights

Based on property information with market context.

This 3,050-square-foot flex property combines office and warehouse space with a secure, fenced equipment yard. The configuration provides both enclosed commercial area and dedicated outdoor storage within the same site, supporting a range of operational requirements.

The property is located at 455 Forum Pkwy in Rural Hall, North Carolina. Access is provided through a connector street linking directly with University Parkway and the I-74 Connector, placing the site within the Piedmont Triad corridor.

Key Highlights

• 3,050‑square‑foot flex property with office and warehouse areas
• Secure, fenced equipment yard for outdoor storage
• Connector street provides direct links to University Parkway and the I‑74 Connector

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

$36,226

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

7.27%

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%

$724,520 $724.5K

Cap Rate 7%

$517,514 $517.5K

Cap Rate 9%

$402,511 $402.5K

Market Conditions

NOI Build-Up for 3,050 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

$60.8K $19.92/SF

− Vacancy

−$12.5K −$4.08/SF

EGI

$48.3K $15.84/SF

− OpEx

−$12.1K −$3.96/SF

NOI

$36.2K $11.88/SF

Area

Forsyth County, NC

Vacancy

20.50%

Lease Rate

$19.92 /SF/Yr

Expense Ratio

25.00%

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%

$724,520

Cap Rate 7%

$517,514

Cap Rate 9%

$402,511

Alternative Uses

Best Use

Office B

$517.5K

$452.8K – $603.8K (±1% cap)

NOI $36,226 @ 7.0% cap · market cap 7.27%

Second Best

Warehouse

$279.6K

$244.7K – $326.2K (±1% cap)

NOI $19,572 @ 7.0% cap · market cap 3.93%

Theoretical Best

Specialty Retail

$787.9K

$689.4K – $919.3K (±1% cap)

NOI $55,155 @ 7.0% cap · market cap 11.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Dental Office Hair Salon Auto Parts Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

133

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 27045, NC

9,548

Population

4,632

Households

2.1

Avg Household Size

42

Median Age

26%

College-Educated

92%

High-School Grad

23.4 sq mi

ZIP Area

408

Density / Sq Mi

$70,345

Median Household Income

$43,362

Median Earnings

$1,077

Median Rent

$181,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse areas pair with secure outdoor equipment storage and connections to University Parkway and the I-74 Connector.

Where is this flex space located?

The property is located at 455 Forum Pkwy Rural Hall, NC.

What is the asking price?

The asking price for this property is $498,500.

What are key features of this property?

This property features: 3,050‑square‑foot flex property with office and warehouse areas; Secure, fenced equipment yard for outdoor storage; Connector street provides direct links to University Parkway and the I‑74 Connector