Industrial Warehouse with Flexible Unit
5520 Cannon Dr Indian, Monroe, NC 28110
For Sale
$1,990,000
Multi-unit industrial property with vacant owner-user space, warehouse storage, and access to major regional routes.
Property Size12,240 SF
Price / SF$162.58
Days on Market94
Property Features for 5520 Cannon Dr Indian
General Information
Standard status
Size
Class
Property subtype
Site & Location
Highway Access
Road Access
Additional Details
Gross Income
Clear Height
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Coldwell Banker Commercial Realty
Listed By:
Peter Rieke · License NC 292618ANDSC100374S
(704) 575-1993
Source:
Thebrokerlist
Added: Aug 8
Changed: Oct 26
Last Checked: Nov 8 at 2:10AM
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 Coldwell Banker Commercial Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 12,240-square-foot warehouse property contains four total units, including the combined 103/104 space leased to one tenant. Unit 102 is vacant and includes 1,950 square feet on the ground floor plus a 500-square-foot upper level. Warehouse areas offer 20-foot ceiling heights suited to storage and industrial operations. The property was built in 1997.
Located in Indian Trail with a Monroe mailing address, the property provides direct access to Hwy 74, the Monroe Expressway, and Hwy 485. Its position near Independence Blvd. supports connectivity to the Charlotte market and regional distribution routes.
Located in Indian Trail with a Monroe mailing address, the property provides direct access to Hwy 74, the Monroe Expressway, and Hwy 485. Its position near Independence Blvd. supports connectivity to the Charlotte market and regional distribution routes.
Key Highlights
- 12,240 SF industrial warehouse property built in 1997
- Four total units, including combined Units 103/104 leased to one tenant
- Unit 102 is vacant with 1,950 SF downstairs and 500 SF upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,141
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,820
$1.8M
Cap Rate 7%
$1,273,443
$1.3M
Cap Rate 9%
$990,456
$990.5K
Market Conditions
NOI Build-Up for 12,240 SF
Gross rent
$110.2K $9.00/SF
− Vacancy
−$5.3K −$0.43/SF
EGI
$104.9K $8.57/SF
− OpEx
−$15.7K −$1.29/SF
NOI
$89.1K $7.28/SF
Area
Union County, NC
Vacancy
4.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,820
Cap Rate 7%
$1,273,443
Cap Rate 9%
$990,456
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.49M
NOI $89,141 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,648 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
20 ft
Clear height
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Warehouses in Monroe
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Public Storage — 5530 W Hwy 74, Monroe, NC 28110
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-unit industrial property with vacant owner-user space, warehouse storage, and access to major regional routes.
Where is this warehouse located?
The property is located at 5520 Cannon Dr Indian Monroe, NC.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 12,240 SF industrial warehouse property built in 1997; Four total units, including combined Units 103/104 leased to one tenant; Unit 102 is vacant with 1,950 SF downstairs and 500 SF upstairs
