Commercial Building Investment
1809 W Front Street Statesville, NC 28677
1809 W Front Street, Statesville, NC, 28677
$895,500
For Sale
$895,500
11,000+ SF commercial building with leasing and financing options.
Property Size11,010 SF
Price / SF$81.34
Days on Market809
Property Features for 1809 W Front Street
General Information
- Standard status
- Active
- Size
- 11,010 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing Agency
LAKESHORE REALTY, INC.
(704) 664-3400
Listed by
JON GRIGORIAN · License #131675
Source
Corcoran
Added: May 4, 2024 Updated: Jul 10 at 12:57 pm Checked: Jul 19 at 4:19 am
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 LAKESHORE REALTY, INC.
Investment Insights
Based on property information with market context.
This commercial building offers a substantial investment opportunity, featuring over 11,000 square feet of space. The metal building includes three offices and four bathrooms. Access is facilitated by two roll-up doors and one loading dock. The property also features paved parking and a fenced storage area. Currently, two spaces within the building are leased, while one 3,300 square foot space is available for lease. Owner financing options are available.
Key Highlights
- Over 11,000 SF metal building
- Owner financing available
- Two spaces currently leased, generating income
Local Financial Insights For Warehouse
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 | $99.1k | $9.00 |
| − Vacancy | −$5.0k | −$0.45 |
| EGI | $94.1k | $8.55 |
| − OpEx | −$14.1k | −$1.28 |
| NOI | $80.0k | $7.27 |
11,010 SF · lease $9.00/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.14M
$1.00M – $1.33M
NOI $80,015 @ 7.0% cap · market cap 8.94%
Second Best
Industrial
$1.04M
$906.8K – $1.21M
NOI $72,540 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$3.47M
$3.03M – $4.04M
NOI $242,572 @ 7.0% cap · market cap 27.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
AutoTechnic
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Downtown Mini Storage — 1128 Secor St, Statesville, NC 28677
- Fcx Distribution Center — W Front St, Statesville, NC 28677, United States
FAQs
What type of property is this?
Warehouse - 11,000+ SF commercial building with leasing and financing options.
Where is this warehouse located?
The property is located at 1809 W Front Street Statesville, NC.
What is the asking price?
The asking price for this property is $895,500.
What are key features of this property?
This property features: Over 11,000 SF metal building; Owner financing available; Two spaces currently leased, generating income
