Flex Space Headquarters
For Sale
$185,000
Pending
611 W Elm, Graham, NC 27253
For sale 1,664 SF flex/office building with general business zoning, requiring significant rehab for tailored buildout.
Property Size1,664 SF
Days on Market52
Property Features for 611 W Elm
General Information
Standard status
Pending
Size
1,664 SF
Property subtype
Commercial
Building Details
Year Built
1947
Listing Agency:
EXP REALTY OF PIEDMONT NC LLC
(888) 584-9431
Listed By:
HEATHER HILL
Source:
Corcoran
Added: Jun 9
Changed: Jul 10
Last Checked: Jul 23 at 9:29AM
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 EXP REALTY OF PIEDMONT NC LLC
Investment Insights
Based on property information with market context.
This flex/office building is positioned as a potential headquarters or multi-purpose workspace, but it needs significant rehab. At this size, the property can be shaped to fit a small business’s day-to-day operating requirements, subject to the buyer’s renovation plans and permitting.
The property is located at 611 W Elm in Graham, North Carolina, and is described as being about two minutes from Downtown Graham, which may support quick access to local customers, services, and activity. The listing also notes General Business zoning, intended to accommodate a range of business uses.
For small business owners, contractors, tradesmen, entrepreneurs, or investors, the value proposition here is the flexibility that comes with General Business zoning paired with a building that can be reconfigured through a substantial renovation. If you’re looking for a site where you can design the interior to match your business needs, this property’s current condition and zoning framework should be taken into account when evaluating scope, budget, and timeline.
The property is located at 611 W Elm in Graham, North Carolina, and is described as being about two minutes from Downtown Graham, which may support quick access to local customers, services, and activity. The listing also notes General Business zoning, intended to accommodate a range of business uses.
For small business owners, contractors, tradesmen, entrepreneurs, or investors, the value proposition here is the flexibility that comes with General Business zoning paired with a building that can be reconfigured through a substantial renovation. If you’re looking for a site where you can design the interior to match your business needs, this property’s current condition and zoning framework should be taken into account when evaluating scope, budget, and timeline.
Key Highlights
- 1,664 SF flex/office building built in 1947
- General Business zoning for flexible business uses
- Location is about 2 minutes from Downtown Graham
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.8k | $13.08 |
| − Vacancy | −$2.0k | −$1.22 |
| EGI | $19.7k | $11.86 |
| − OpEx | −$6.9k | −$4.15 |
| NOI | $12.8k | $7.71 |
1,664 SF · lease $13.08/SF/yr · vacancy 9.30% · expense 35.00%
Alternative Uses
Best Use
Office B
$461.6K
$403.9K – $538.5K
NOI $32,311 @ 7.0% cap · market cap 17.47%
Second Best
Flex RnD
$183.3K
$160.4K – $213.9K
NOI $12,832 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$548.6K
$480.0K – $640.1K
NOI $38,403 @ 7.0% cap · market cap 20.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27253, NC
32,010
Population
14,821
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
88%
High-School Grad
81.9 sq mi
ZIP Area
391
Density / Sq Mi
$62,020
Median Household Income
$39,307
Median Earnings
$975
Median Rent
$212,300
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 - For sale 1,664 SF flex/office building with general business zoning, requiring significant rehab for tailored buildout.
Where is this flex space located?
The property is located at 611 W Elm Graham, NC.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,664 SF flex/office building built in 1947; General Business zoning for flexible business uses; Location is about 2 minutes from Downtown Graham
