Flex Warehouse and
For Sale
$1,750,000
614 Washington St, Whiteville, NC 28472
A large multi-structure warehouse and flex setup on about 14.5 acres with heated and temporary climate-controlled areas.
Property Size13,869 SF
Price / SF$126.18
Days on Market112
Property Features for 614 Washington St
General Information
Standard status
Active
Size
13,869 SF
Building Details
Year Built
1944
Listing Agency:
Atlantic Blue Coast Realty LLC
Listed By:
Eric D Hill · License #250127
(910) 625-8199
Source:
Bradberrygarnerrealestate
Added: Jul 3
Changed: Oct 14
Last Checked: Oct 7 at 5:43PM
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 Atlantic Blue Coast Realty LLC
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Investment Insights
Based on property information with market context.
This property is a multi-building commercial site anchored by a main warehouse building listed at over 13,000 sq. ft. Portions of the building are permanently heated, cooled, and vented, while other areas have temporary heating/cooling/venting. The interior includes four bathrooms (one with a shower), a full kitchen, and a laundry area.
The offering also includes a lifted building of approximately 1,700+/- sq. ft. and a large covered concrete pad totaling about 7,200+/- sq. ft. Additional site features include large fenced-in areas. The property totals approximately 14.5 acres and is described as including multiple zoning designations, with part of the land in city limits and part outside city limits; additional structures of varying condition are included but not factored into advertising. The site is noted as partially in a flood zone. Access is described as being just off Hwy 701 with easy access to Hwy 74/76.
Transaction is for sale, and the seller may request to lease the property back temporarily from the purchaser until relocation is complete. Measurements may be approximate based on multiple data sources and the multiple-parcel configuration.
The offering also includes a lifted building of approximately 1,700+/- sq. ft. and a large covered concrete pad totaling about 7,200+/- sq. ft. Additional site features include large fenced-in areas. The property totals approximately 14.5 acres and is described as including multiple zoning designations, with part of the land in city limits and part outside city limits; additional structures of varying condition are included but not factored into advertising. The site is noted as partially in a flood zone. Access is described as being just off Hwy 701 with easy access to Hwy 74/76.
Transaction is for sale, and the seller may request to lease the property back temporarily from the purchaser until relocation is complete. Measurements may be approximate based on multiple data sources and the multiple-parcel configuration.
Key Highlights
- Over 13,000 sq ft main building with a mix of permanently heated/cooled/vented and temporary heating/cooling/venting areas
- 14.5+/- acres with multiple zoning designations; part in Whiteville city limits and part outside (see photos)
- Additional structures include a 1,700+/- sq ft lifted building and a 7,200+/- sq ft covered concrete pad for parking/storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,785
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,215,700
$3.2M
Cap Rate 7%
$2,296,929
$2.3M
Cap Rate 9%
$1,786,500
$1.8M
Market Conditions
NOI Build-Up for 13,869 SF
Gross rent
$277.9K $20.04/SF
− Vacancy
−$30.6K −$2.20/SF
EGI
$247.4K $17.84/SF
− OpEx
−$86.6K −$6.24/SF
NOI
$160.8K $11.59/SF
Area
Columbus County, NC
Vacancy
11.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,215,700
Cap Rate 7%
$2,296,929
Cap Rate 9%
$1,786,500
Alternative Uses
Best Use
Flex RnD
$2.30M
$2.01M – $2.68M
NOI $160,785 @ 7.0% cap · market cap 9.19%
Second Best
Warehouse
$1.39M
$1.22M – $1.62M
NOI $97,292 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$3.36M
$2.94M – $3.93M
NOI $235,502 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Carolina Country Catering — Whiteville, NC 28472
Frequently Asked Questions
What type of property is this?
Flex space - A large multi-structure warehouse and flex setup on about 14.5 acres with heated and temporary climate-controlled areas.
Where is this flex space located?
The property is located at 614 Washington St Whiteville, NC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Over 13,000 sq ft main building with a mix of permanently heated/cooled/vented and temporary heating/cooling/venting areas; 14.5+/- acres with multiple zoning designations; part in Whiteville city limits and part outside (see photos); Additional structures include a 1,700+/- sq ft lifted building and a 7,200+/- sq ft covered concrete pad for parking/storage
