Industrial Warehouse with Office
New
For Sale
$2,300,000
Pending
645 11TH Avenue Boulevard SE, Hickory, NC 28602
Heated production and storage areas include sprinkler protection and LED lighting.
Property Size22,000 SF
Days on Market3
Property Features for 645 11TH Avenue Boulevard SE
General Information
Standard status
Pending
Size
22,000 SF
Property subtype
Commercial
Zoning
IND
Additional Details
Sprinkler System
Yes
Amenities
office space
break-room
accessible restrooms
full LED lighting
loading dock
drive-in doors
fully heated
Building Details
Year Built
2000
Listing Agency:
Realty Executives of Hickory
Listed By:
Tiffany Ramirez
(828) 310-5109
Source:
Geoffcampbell
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 23 at 5:01PM
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 Realty Executives of Hickory
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Investment Insights
Based on property information with market context.
This warehouse and production facility contains more than 22,000 square feet, including approximately 1,600 square feet of office space and a 20,400-square-foot industrial area. The office portion has four offices, a break room, and accessible restrooms. The operational space features 26-foot clear height, heating, sprinkler protection, and LED lighting. Loading is supported by one dock and two drive-in doors. The building was constructed in 2000.
At 645 11th Avenue Boulevard SE in Hickory, North Carolina, the property is zoned IND (Industrial) and offers access to major transportation routes. The facility is available under a Triple Net (NNN) lease structure. Manufacturing, warehousing, distribution, logistics, and other industrial operations are identified as potential uses.
At 645 11th Avenue Boulevard SE in Hickory, North Carolina, the property is zoned IND (Industrial) and offers access to major transportation routes. The facility is available under a Triple Net (NNN) lease structure. Manufacturing, warehousing, distribution, logistics, and other industrial operations are identified as potential uses.
Key Highlights
- More than 22,000 square feet, with approximately 1,600 square feet of office space
- 20,400‑square‑foot warehouse and production area with 26‑foot clear height
- Four offices, a break room, and accessible restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,124
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,802,480
$2.8M
Cap Rate 7%
$2,001,771
$2.0M
Cap Rate 9%
$1,556,933
$1.6M
Market Conditions
NOI Build-Up for 22,000 SF
Gross rent
$176.9K $8.04/SF
− Vacancy
−$12.0K −$0.55/SF
EGI
$164.9K $7.49/SF
− OpEx
−$24.7K −$1.12/SF
NOI
$140.1K $6.37/SF
Area
Catawba County, NC
Vacancy
6.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,802,480
Cap Rate 7%
$2,001,771
Cap Rate 9%
$1,556,933
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,124 @ 7.0% cap · market cap 6.09%
Second Best
Industrial
$1.65M
$1.44M – $1.92M
NOI $115,397 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$6.43M
$5.62M – $7.50M
NOI $449,856 @ 7.0% cap · market cap 19.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 28602, NC
29,184
Population
12,941
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
87%
High-School Grad
70.7 sq mi
ZIP Area
413
Density / Sq Mi
$56,031
Median Household Income
$36,519
Median Earnings
$830
Median Rent
$180,300
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Saver Self Storage — 825-A US Hwy 70 SE, Hickory, NC 28602
- Extra Space Storage — 733 10th Ave SE, Hickory, NC 28602
Frequently Asked Questions
What type of property is this?
Warehouse - Heated production and storage areas include sprinkler protection and LED lighting.
Where is this warehouse located?
The property is located at 645 11TH Avenue Boulevard SE Hickory, NC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: More than 22,000 square feet, with approximately 1,600 square feet of office space; 20,400‑square‑foot warehouse and production area with 26‑foot clear height; Four offices, a break room, and accessible restrooms
