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Property profile

1506 Lexington Ave Thomasville, NC 27360

FOR SALE
Manufacturing properties
Property ID
US53-1217473
22,178 SF 2.7 ac lot Built 1947
Individually Owned 4-yr Hold Free & Clear

Property summary

AI-generated overview

This expansive industrial warehouse, situated at 1506 Lexington Avenue in the heart of Thomasville, North Carolina, presents a significant opportunity for businesses seeking ample space and convenient access. Boasting over 21,000 square feet of interior space, this property is ideal for a variety of manufacturing or storage applications. Its downtown Thomasville location offers easy access to major transportation routes, including convenient proximity to interstate highways. The property features a secure, fenced perimeter, enhancing safety and security. For efficient material handling, the warehouse includes a functional freight elevator, significantly improving vertical transportation capabilities. The building also offers practical office space, with two offices conveniently located at the front entry, and a total of three bathrooms for employee convenience. Loading and unloading operations are facilitated by an extended loading dock platform with one loading dock, streamlining logistics. Additional storage is provided by a metal building at the rear of the property, and a separate storage building located at the front. The property is being sold in its current "as is" condition. This substantial industrial property offers a compelling combination of size, location, and functionality, making it an attractive investment opportunity.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1947
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 22,178 SF
Lot 2.7 ac (117,612 SF)
Zoning code M1
APN 16-325-0-000-0050
UPID US53-1217473

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Furniture & Home Goods
  • Furniture & Home Goods Home Decor Store
  • Big Box & Wholesale Store Furniture & Home Goods

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$702k
Blend (final) Blend
$645k

Owner & transaction history

since 2021
1 recorded transaction
2021
$5,000

Zoning & alternative use

M1 · Thomasville, NC

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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