Flex Space with Loading
For Sale
$599,000
509 E Main Avenue E, Gastonia, NC 28054
Mixed office, meeting, and warehouse areas provide a flexible foundation for business operations and future upfitting.
Property Size1,954 SF
Days on Market53
Property Features for 509 E Main Avenue E
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Warehouse/Office
Warehouse & Industrial
Clear Height
9 ft
Dock-High Doors
1
Additional Details
Highway Access
Yes
Amenities
loading dock
garage door
half bathrooms
kitchen area
Features: Cleared, Level, Sloped, Size: 0.64, Dimensions: 142x184x140x210, Size Units: Acres
Description: Rubber
Description: Chain Link, Partial
Flooring: Carpet, Concrete, Tile, Linoleum
Details: Central Air
Heating: Central
Days on Market: 0, Listing Price: 599000, Status: Active
Description: Basement Garage Door, Unfinished, Walk-Out Access, Walk-Up Access
Construction Materials: Block, Brick Full, Year Built: 1954, Construction Type: Site Built
City: Gastonia, State: NC, Zip: 28054, County: Gaston
Zoning: I-U
Sewer: Public Sewer, Water Source: City, Utilities: Cable Available, Electricity Connected, Natural Gas
Auction Y/N: 0
Patio Features: Awning(s), Covered, Road Frontage: 142
Description: Dishwasher
Building Details
Building Size
1,954 SF
Year Built
1954
Listing Agency:
Premier South
(704) 829-3518
Listed By:
Norris Lamb
(704) 460-4211
Source:
Blackstreaminternational
Added: Jul 14
Changed: Sep 4
Last Checked: Sep 2 at 4:51PM
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 flex property at 509 E Main Avenue in Gastonia combines office, meeting, flex, and warehouse areas within a building constructed in 1954. The interior has received substantial upfitting, with additional work possible to match operational requirements. Existing features include a loading dock, garage door, 9-foot ceilings, two half bathrooms, and a kitchen area. A new roof has also been installed.
The property is located downtown, one block from Hwy 74, and includes the side lot, which may be used for parking. The owner will consider leasing a portion of the building if the full space is not required. Specific use questions should be directed to Gastonia Zoning.
The property is located downtown, one block from Hwy 74, and includes the side lot, which may be used for parking. The owner will consider leasing a portion of the building if the full space is not required. Specific use questions should be directed to Gastonia Zoning.
Key Highlights
- 10' loading dock with 8'x8' garage door
- 9' ceilings and two half bathrooms
- New roof installed
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
$34,269
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
5.72%
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%
$685,380
$685.4K
Cap Rate 7%
$489,557
$489.6K
Cap Rate 9%
$380,767
$380.8K
Market Conditions
NOI Build-Up for 1,954 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
$50.9K $26.04/SF
− Vacancy
−$5.2K −$2.66/SF
EGI
$45.7K $23.38/SF
− OpEx
−$11.4K −$5.85/SF
NOI
$34.3K $17.54/SF
Area
Gaston County, NC
Vacancy
10.20%
Lease Rate
$26.04 /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%
$685,380
Cap Rate 7%
$489,557
Cap Rate 9%
$380,767
Alternative Uses
Best Use
Office B
$489.6K
$428.4K – $571.2K
NOI $34,269 @ 7.0% cap · market cap 5.72%
Second Best
Warehouse
$202.9K
$177.5K – $236.7K
NOI $14,201 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$615.0K
$538.1K – $717.5K
NOI $43,051 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,362
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28054, NC
40,548
Population
18,351
Households
2.2
Avg Household Size
40
Median Age
25%
College-Educated
90%
High-School Grad
19.3 sq mi
ZIP Area
2,101
Density / Sq Mi
$59,524
Median Household Income
$39,883
Median Earnings
$1,150
Median Rent
$220,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, meeting, and warehouse areas provide a flexible foundation for business operations and future upfitting.
Where is this flex space located?
The property is located at 509 E Main Avenue E Gastonia, NC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 10' loading dock with 8'x8' garage door; 9' ceilings and two half bathrooms; New roof installed
