Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    212 Nuway Packing Dr Forest City, NC 28043

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    212 Nuway Packing Dr Forest City, NC 28043

    View on Map
    • Warehouses
    • 25,000 SF
    • 31.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 212 Nuway Packing Dr

    Lot size
    31.70 lot acres
    Property size
    25,000 SF
    Property type
    Warehouses
    Property subtype
    Refrigerated & Cold Storage

    Description

    This exceptional 180,000-square-foot industrial facility in Forest City, NC, is ideally suited for food processing, cold storage, and warehousing. Located at 212 Nuway Packing Drive, this property sits on 31.7 acres and offers flexible space options, subdividable down to 25,000 square feet. The building boasts 87,976 square feet of cooler space and 17,500 square feet of freezer space, supported by robust ammonia-based cold systems and food-grade infrastructure, including floor drains and a spiral freezer. Nine dock doors with levelers and a drive-in door ensure efficient loading and unloading, while ample parking accommodates over 500 vehicles. The property features a 20' to 30' ceiling height, two 4,000-amp power services, and a wet sprinkler system. Its strategic location provides convenient access to major roadways including Route 74, Route 221, Route 64, and I-26, making it a prime location for regional distribution and logistics. The property was renovated in 2016. Asking price is $8,000,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8413
    Latitude
    35.3366

    Comparable in this City

    • Value Estimation by Request

      212 Nuway Packing Dr

      Refrigerated & Cold Storage
      212 Nuway Packing Dr, Forest City, NC 28043
      View Details
    • Value Estimation by Request
      180,000 SF

      212 Nuway Packing Dr

      Distribution properties • 180,000 SF
      212 Nuway Packing Dr, Forest City, NC 28043
      View Details
    • Value Estimation
      $690,000
      7,902 SF

      277 Lawing Rd

      DISTRIBUTION WAREHOUSE • 7,902 SF
      277 Lawing Rd, Forest City, NC 28043-2806
      View Details
    • Value Estimation by Request
      3,800 SF

      412 Scruggs Rd

      MINI-WAREHOUSE, STORAGE • 3,800 SF
      412 Scruggs Rd, Forest City, NC 28043-9799
      View Details
    • Value Estimation by Request
      6,400 SF

      1260 Tanners Grv Rd

      MINI-WAREHOUSE, STORAGE • 6,400 SF
      1260 Tanners Grv Rd, Forest City, NC 28043
      View Details
    • Value Estimation by Request
      2,400 SF

      313 Doggett Rd

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      313 Doggett Rd, Forest City, NC 28043-8145
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      180,000 SF

      Frozen Food Manufacturing Plant

      180,000 SF manufacturing plant with freezer and refrigeration areas.
      212 Nuway Packing Dr, Forest City, NC 28043
      View Details
    • $69,500

      Highway Frontage Commercial Lot

      1.11 acre commercial lot with utilities available.
      22 Commercial Dr, Forest City, NC 28043
      View Details
    • $75,000

      Commercial Land Ready For Development

      Prime commercial land in Forest City, NC, ready for development.
      00 Withrow Rd, Forest City, NC 28043
      View Details
    • Contact for pricing

      Unrestricted Acreage Near Forest City

      10.22 acres of unrestricted land with creek.
      00 Sunset Dr, Rutherfordton, NC 28043
      View Details
    • $65,500

      Commercial Lot Near Highway 74

      1.10 acre commercial lot with utilities available.
      20 Commercial Dr, Forest City, NC 28043
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      87,120 SF

      Commercial Building in Forest City

      Versatile commercial building suitable for manufacturing, retail, or warehouse use.
      114 Michael Dr, Forest City, NC 28043
      View Details
    • Contact for pricing

      Forest City Commercial Building For Lease

      Versatile commercial building suitable for manufacturing, retail, or warehouse use.
      141 Michael Dr, Forest City, NC 28043
      View Details
    • $3,000 /Mo
      5,227 SF

      Main Street Retail Space Available

      5040' retail space on Main Street in Forest City.
      140 W Main St, Forest City, NC 28043
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    212 Nuway Packing Dr
    Forest City, NC 28043
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    212 Nuway Packing Dr, Forest City, NC, 28043

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!