Land with Highway Frontage
For Sale
Contact for pricing
Pending
352 Sunny View Dr, Rutherfordton, NC 28139
10-acre tract with 5,000 SF building near Equestrian Center.
Property Size5,000 SF
Lot Size10.00 Acres
Days on Market955
Property Features for 352 Sunny View Dr
General Information
Standard status
Pending
Size
5,000 SF
Lot size
10.00 Acres
Property subtype
Retail
Zoning
MU
Building Details
Year Built
1998
Buildings
1
Listing Agency:
J. PETERSON REALTY & ASSOCIATES, LLC
(828) 460-7508
Listed By:
Jannell Peterson · License #334721
Source:
Crexi
Added: Jan 9, 2024
Changed: Aug 8
Last Checked: Aug 20 at 6:48PM
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 J. PETERSON REALTY & ASSOCIATES, LLC
Investment Insights
Based on property information with market context.
This 10-acre tract of land is located one mile from the Tryon International Equestrian Center. The property includes a 5,000-square-foot red iron building that houses 5 garage bays, one of which was previously used as a paint booth, and a separate employee bathroom. The front of the building is configured with a reception/shop area, two offices, a bathroom, and a storage closet. With over 600 ft of highway road front footage, this property is zoned for multiple use. This location in a high-traffic area may be suitable for a variety of businesses.
Key Highlights
- Prime location: Just one mile from Tryon International Equestrian Center.
- High visibility: Boasting over 600 ft of highway road frontage.
- Zoned for multiple use: An excellent investment opportunity.
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
$49,442
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
5.99%
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%
$988,840
$988.8K
Cap Rate 7%
$706,314
$706.3K
Cap Rate 9%
$549,356
$549.4K
Market Conditions
NOI Build-Up for 5,000 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
$72.0K $14.40/SF
− Vacancy
−$1.4K −$0.27/SF
EGI
$70.6K $14.13/SF
− OpEx
−$21.2K −$4.24/SF
NOI
$49.4K $9.89/SF
Area
Rutherford County, NC
Vacancy
1.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$988,840
Cap Rate 7%
$706,314
Cap Rate 9%
$549,356
Alternative Uses
Best Use
Retail
$706.3K
$618.0K – $824.0K
NOI $49,442 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.8K – $1.29M
NOI $77,184 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 28139, NC
18,665
Population
8,953
Households
2.1
Avg Household Size
48
Median Age
23%
College-Educated
87%
High-School Grad
181.9 sq mi
ZIP Area
103
Density / Sq Mi
$52,148
Median Household Income
$36,340
Median Earnings
$842
Median Rent
$195,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - 10-acre tract with 5,000 SF building near Equestrian Center.
Where is this retail property located?
The property is located at 352 Sunny View Dr Rutherfordton, NC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Prime location: Just one mile from Tryon International Equestrian Center.; High visibility: Boasting over 600 ft of highway road frontage.; Zoned for multiple use: An excellent investment opportunity.
