Versatile Industrial Property For
For Sale
$1,000,000
508 Canterbury Road, Kings Mountain, NC 28086
Industrial property ideal for warehouse, office, manufacturing, or storage.
Property Size7,889 SF
Price / SF$126.76
Days on Market341
Property Features for 508 Canterbury Road
General Information
Standard status
Active
Size
7,889 SF
Property subtype
Commercial
Amenities
Parking Lot
Building Details
Year Built
1997
Listing Agency:
PREMIER SOUTH
(704) 610-3885
Listed By:
ASHLEY WATFORD
Source:
Corcoran
Added: Sep 12, 2025
Changed: Aug 15
Last Checked: Aug 18 at 5:39AM
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 PREMIER SOUTH
Investment Insights
Based on property information with market context.
This industrial property offers a versatile space suitable for warehouse, office, light manufacturing, or storage purposes. The building features a loading dock and functional layout. It is strategically located minutes from I-85 and HWY 74 Business, providing strong transportation access. The property size is 7889 square feet.
Key Highlights
- Strategic location minutes from I‑85 and HWY 74 Business
- Versatile industrial property suitable for warehouse, office, light manufacturing, or storage
- Features a loading dock
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
$71,534
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
7.15%
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%
$1,430,680
$1.4M
Cap Rate 7%
$1,021,914
$1.0M
Cap Rate 9%
$794,822
$794.8K
Market Conditions
NOI Build-Up for 7,889 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
$118.3K $15.00/SF
− Vacancy
−$8.3K −$1.05/SF
EGI
$110.1K $13.95/SF
− OpEx
−$38.5K −$4.88/SF
NOI
$71.5K $9.07/SF
Area
Cleveland County, NC
Vacancy
7.00%
Lease Rate
$15.00 /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%
$1,430,680
Cap Rate 7%
$1,021,914
Cap Rate 9%
$794,822
Alternative Uses
Best Use
Flex RnD
$1.02M
$894.2K – $1.19M
NOI $71,534 @ 7.0% cap · market cap 7.15%
Second Best
Industrial
$683.7K
$598.3K – $797.7K
NOI $47,862 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,241 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28086, NC
27,641
Population
11,307
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
83%
High-School Grad
90.5 sq mi
ZIP Area
305
Density / Sq Mi
$56,079
Median Household Income
$37,758
Median Earnings
$879
Median Rent
$181,600
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 - Industrial property ideal for warehouse, office, manufacturing, or storage.
Where is this flex space located?
The property is located at 508 Canterbury Road Kings Mountain, NC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Strategic location minutes from I‑85 and HWY 74 Business; Versatile industrial property suitable for warehouse, office, light manufacturing, or storage; Features a loading dock
