Heated Automotive Repair
New
For Sale
$2,075,000
46 Last Cast Dr, Benson, NC 27504
Industrial-zoned automotive facility with multiple service bays, drive-in access, covered sheds, and outdoor storage capacity.
Property Size6,250 SF
Lot Size1.65 Acres
Price / SF$332
Days on Market3
Property Features for 46 Last Cast Dr
General Information
Standard status
Active
Size
6,250 SF
Lot size
1.65 Acres
Property subtype
Industrial
Zoning
Industrial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
9
Additional Details
Service Bays
7
Amenities
Heated
Covered sheds
Storage containers
Clean room for engine assembly
Drive-in doors
Building Details
Building Size
6,250 SF
Year Built
2001
Buildings
1
Construction
metal
Listing Agency:
(919) 632-6953
Listed By:
Will Sossaman
(919) 632-6953
Source:
Lee-associates
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 18 at 5:52AM
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 Will Sossaman
Investment Insights
Based on property information with market context.
This industrial-zoned automotive repair property includes a 6,250-square-foot metal building on 1.65 acres. Built in 2001, the facility has a 16-foot ceiling, heated interior space, seven bays, five vehicle lift bays, one dyno bay, one flat bay, and a clean room for engine assembly. Nine drive-in doors measure 9 feet by 14 feet, supporting vehicle movement throughout the building.
The site includes approximately 1.1 acres of usable outside storage, three covered sheds, and two storage containers. Located at 46 Last Cast Dr in Benson, the property offers access to both I-40 and I-95 and is positioned for automotive, heavy industrial, or logistics-related operations.
The site includes approximately 1.1 acres of usable outside storage, three covered sheds, and two storage containers. Located at 46 Last Cast Dr in Benson, the property offers access to both I-40 and I-95 and is positioned for automotive, heavy industrial, or logistics-related operations.
Key Highlights
- 6,250 SF metal automotive repair building on 1.65 acres
- Approximately 1.1 acres of usable outside storage
- 9 drive‑in doors measuring 9' x 14'
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
$76,729
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
3.70%
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%
$1,534,580
$1.5M
Cap Rate 7%
$1,096,129
$1.1M
Cap Rate 9%
$852,544
$852.5K
Market Conditions
NOI Build-Up for 6,250 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
$118.5K $18.96/SF
− Vacancy
−$8.9K −$1.42/SF
EGI
$109.6K $17.54/SF
− OpEx
−$32.9K −$5.26/SF
NOI
$76.7K $12.28/SF
Area
Johnston County, NC
Vacancy
7.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,534,580
Cap Rate 7%
$1,096,129
Cap Rate 9%
$852,544
Alternative Uses
Best Use
Retail
$1.10M
$959.1K – $1.28M
NOI $76,729 @ 7.0% cap · market cap 3.70%
Second Best
Warehouse
$733.2K
$641.6K – $855.4K
NOI $51,325 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,354 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
9
Drive-in doors
7
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27504, NC
16,613
Population
7,140
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
89.8 sq mi
ZIP Area
185
Density / Sq Mi
$68,376
Median Household Income
$44,481
Median Earnings
$995
Median Rent
$217,400
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - Industrial-zoned automotive facility with multiple service bays, drive-in access, covered sheds, and outdoor storage capacity.
Where is this auto shop located?
The property is located at 46 Last Cast Dr Benson, NC.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 6,250 SF metal automotive repair building on 1.65 acres; Approximately 1.1 acres of usable outside storage; 9 drive‑in doors measuring 9' x 14'
