Downtown Sanford Commercial Opportunity
For Sale
Contact for pricing
104 Hawkins Ave, Sanford, NC 27330
Three parcels with two buildings and a printing business.
Property Size10,500 SF
Lot Size0.73 Acres
Price / SF$66.67
Days on Market1165
Property Features for 104 Hawkins Ave
General Information
Standard status
Active
Size
10,500 SF
Lot size
0.73 Acres
Property subtype
Industrial
Lease Type
Modified Gross
Building Details
Tenancy
Multi
Listing Agency:
South Atlantic Sites
Listed By:
Mike Wilen · License #NC 281025
Source:
Crexi
Added: Jun 13, 2023
Changed: Aug 14
Last Checked: Aug 20 at 11:21AM
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 South Atlantic Sites
Investment Insights
Based on property information with market context.
Located in historic downtown Sanford, NC, overlooking Depot Park, the property includes three parcels of real estate: 107 Charlotte Ave, 104 Hawkins Ave, and 0 Hawkins Ave. The location provides convenient access to US-421, US Route 1, and NC Route 87, offering connectivity to Raleigh, Durham, Fayetteville, and Greensboro. The property is situated in an Opportunity Zone. The total acreage is 0.73 acres, with a total square footage of 10,500 SF. There are two buildings on the property. The 107 Charlotte Ave property is 5,700 SF, which includes a 4,400 SF warehouse portion. A hair and nail salon tenant occupies an additional 1,300 SF of the 107 Charlotte Ave property. The 104 Hawkins Ave production facility is 4,800 SF. A 100+ year old printing business is included in the sale, and the buyer must purchase both the business and the real estate together. The property is suitable for manufacturing, industrial, and retail purposes.
Key Highlights
- Prime location in historic downtown Sanford, overlooking Depot Park.
- Opportunity Zone location offering potential tax benefits.
- Three parcels of real estate with two buildings totaling 10,500 SF on 0.73 acres.
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
$55,679
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
7.95%
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%
$1,113,580
$1.1M
Cap Rate 7%
$795,414
$795.4K
Cap Rate 9%
$618,656
$618.7K
Market Conditions
NOI Build-Up for 10,500 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
$81.9K $7.80/SF
− Vacancy
−$2.4K −$0.22/SF
EGI
$79.5K $7.58/SF
− OpEx
−$23.9K −$2.27/SF
NOI
$55.7K $5.30/SF
Area
Lee County, NC
Vacancy
2.88%
Lease Rate
$7.80 /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%
$1,113,580
Cap Rate 7%
$795,414
Cap Rate 9%
$618,656
Alternative Uses
Best Use
Industrial
$795.4K
$696.0K – $928.0K
NOI $55,679 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,718 @ 7.0% cap · market cap 25.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Three parcels with two buildings and a printing business.
Where is this manufacturing property located?
The property is located at 104 Hawkins Ave Sanford, NC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Prime location in historic downtown Sanford, overlooking Depot Park.; Opportunity Zone location offering potential tax benefits.; Three parcels of real estate with two buildings totaling 10,500 SF on 0.73 acres.
