Two-Unit Flex
For Sale
Contact for pricing
815 Woodland Ave, Sanford, NC 27330
C-2-zoned commercial property with two separately configured units and existing income.
Property Size10,550 SF
Price / SF$52.13
Days on Market196
Property Features for 815 Woodland Ave
General Information
Standard status
Active
Size
10,550 SF
Property subtype
Industrial
Zoning
C-2
Occupancy
35%
Investment Type
Value Add
Building Details
Year Built
1980
Year Renovated
2026
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Building Size
10,550 SF
Listing Agency:
CityPlat LLC
(919) 698-8799
Listed By:
Graham Storey · License #NC 298847
Source:
Crexi
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 30 at 10:19AM
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 CityPlat LLC
Investment Insights
Based on property information with market context.
This flex property contains 10,550 square feet arranged as two distinct units, offering a straightforward configuration for separate occupancy or future owner use. Built in 1980, the building combines warehouse-oriented space with flexible commercial functionality.
The property is located at 815–817 Woodland Ave in Sanford, North Carolina, and carries C-2 zoning. Existing income is in place, while the two-unit layout provides flexibility through lease rollover and potential reconfiguration over time.
The property is located at 815–817 Woodland Ave in Sanford, North Carolina, and carries C-2 zoning. Existing income is in place, while the two-unit layout provides flexibility through lease rollover and potential reconfiguration over time.
Key Highlights
- 10,550 SF flex/warehouse building
- Two separately configured units
- C‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,960
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$799,200
$799.2K
Cap Rate 7%
$570,857
$570.9K
Cap Rate 9%
$444,000
$444.0K
Market Conditions
NOI Build-Up for 10,550 SF
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.
Gross rent
$63.3K $6.00/SF
− Vacancy
−$1.8K −$0.17/SF
EGI
$61.5K $5.83/SF
− OpEx
−$21.5K −$2.04/SF
NOI
$40.0K $3.79/SF
Area
Lee County, NC
Vacancy
2.88%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$799,200
Cap Rate 7%
$570,857
Cap Rate 9%
$444,000
Alternative Uses
Best Use
Warehouse
$970.5K
$849.2K – $1.13M
NOI $67,932 @ 7.0% cap · market cap 12.35%
Second Best
Industrial
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 10.17%
Theoretical Best
Office A
$2.57M
$2.24M – $2.99M
NOI $179,569 @ 7.0% cap · market cap 32.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Alkaline Bites FoodTruck & Commissary — 706 Wall St, Sanford, NC 27330
Frequently Asked Questions
What type of property is this?
Flex space - C-2-zoned commercial property with two separately configured units and existing income.
Where is this flex space located?
The property is located at 815 Woodland Ave Sanford, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 10,550 SF flex/warehouse building; Two separately configured units; C‑2 zoning
