Flex Building with Outside
798 Park Avenue, Youngsville, NC 27596
For Sale
New
$1,475,000
Shop and office areas are paired with detached work space, equipment shelter, and outdoor storage.
Property Size6,275 SF
Lot Size2.00 Acres
Price / SF$235.06
Days on Market4
Property Features for 798 Park Avenue
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Warehouse & Industrial
Warehouse Space
Office Build-Out
Power
Three-Phase Power
Additional Details
Outdoor Storage
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Brassfield Realty
Listed By:
Julia Thompson · License NC #282830
(919) 632-1799
Source:
Sherihagerty
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:28PM
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 Brassfield Realty
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Investment Insights
Based on property information with market context.
This 6,275-square-foot flex building combines a 5,000-square-foot shop and warehouse with 1,275 square feet of office space. The warehouse has secure chain-link storage dividers, a gas-fired unit heater, and 3-phase power supplied through two 200A panels. A 20-by-31-foot detached shop and a 24-by-66-foot equipment shelter add covered and enclosed work or storage space. The site totals 2 acres and includes paved, concrete, and gravel parking and laydown areas.
Mixed-use zoning applies to the property. Built in 1990, the stand-alone building offers a combination of interior workspace and outdoor storage area.
Mixed-use zoning applies to the property. Built in 1990, the stand-alone building offers a combination of interior workspace and outdoor storage area.
Key Highlights
- 6,275 SF building on 2 acres
- 5,000 SF shop/warehouse plus 1,275 SF of office space
- Warehouse has 21' peak height, secure chain‑link dividers, and a gas‑fired unit heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,054
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,080
$1.1M
Cap Rate 7%
$786,486
$786.5K
Cap Rate 9%
$611,711
$611.7K
Market Conditions
NOI Build-Up for 6,275 SF
Gross rent
$101.7K $16.20/SF
− Vacancy
−$17.0K −$2.70/SF
EGI
$84.7K $13.50/SF
− OpEx
−$29.6K −$4.72/SF
NOI
$55.1K $8.77/SF
Area
Franklin County, NC
Vacancy
16.68%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,080
Cap Rate 7%
$786,486
Cap Rate 9%
$611,711
Alternative Uses
Best Use
Flex RnD
$786.5K
$688.2K – $917.6K
NOI $55,054 @ 7.0% cap · market cap 3.73%
Second Best
Warehouse
$696.7K
$609.6K – $812.8K
NOI $48,768 @ 7.0% cap · market cap 3.31%
Theoretical Best
Retail
$1.59M
$1.39M – $1.86M
NOI $111,339 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 27596, NC
19,023
Population
8,030
Households
2.4
Avg Household Size
41
Median Age
37%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
360
Density / Sq Mi
$90,189
Median Household Income
$47,302
Median Earnings
$1,147
Median Rent
$343,200
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Shop and office areas are paired with detached work space, equipment shelter, and outdoor storage.
Where is this flex space located?
The property is located at 798 Park Avenue Youngsville, NC.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 6,275 SF building on 2 acres; 5,000 SF shop/warehouse plus 1,275 SF of office space; Warehouse has 21' peak height, secure chain‑link dividers, and a gas‑fired unit heater
