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

    585 11Th St NW Hickory, NC 28601

    • Warehouses
    • 51,258 SF
    • 4.18 lot acres
    For Sale
    View listing
    $2,900,000
    Last Sale
    Nov 23, 2021
    $2,550,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0554301
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Morelux Lighting USA / Warehouse
    • Fiber and Yarn Products / Yarn Store / Manufacturer

    Property Details for 585 11Th St NW

    Year built
    1946
    Construction
    WOOD
    Lot size
    4.18 lot acres
    Property size
    51,258 SF
    Zone code
    IND
    Property type
    Warehouses
    APN
    2793-16-92-5970
    APU
    279316925970

    Description

    This multi-tenant industrial property in Catawba County, NC, offers 74,356 square feet of flexible space, perfect for various uses including warehouse, manufacturing, flex, distribution, and R&D. The property comprises four buildings, each single-story, with ceiling heights ranging from 12 to 18 feet. A total of 36,188 square feet is currently vacant, divisible into units as small as 13,188 square feet. The property features five loading docks with five dock-high doors, one drive-in door, and ample parking with 44 spaces. The buildings boast updated HVAC and lighting systems. One 20,000 square foot section includes a loading dock and staging area. The property sits on 4.18 acres of land and benefits from convenient access to I-40 and Highway 321. Heavy electric power is available. The property is located at 585 11th St NW, Hickory, NC 28601, with a cross street of Old Lenoir Rd. Multiple sections are available for lease, offering options for businesses of various sizes. This is a prime opportunity for businesses seeking efficient and well-equipped industrial space in a strategic location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,160,000
      ML approach
      $2,155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,682,000
      Market price range: $961k - $2.68M
      AI Estimate
      $2,682,000
      Market price range: $1.06M - $2.68M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,790,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3604
    Latitude
    35.7409
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,450
    $133,000
    $2,145,900
    $2,278,900
    -
    $133,000
    $2,145,900
    $2,278,900

    Comparable in this City

    • Value Estimation
      $385,000
      8,880 SF

      445 13th NE Ave

      WAREHOUSE, STORAGE • 8,880 SF
      445 13th NE Ave, Hickory, NC 28601
      View Details
    • Value Estimation
      $195,000
      8,894 SF

      1451 14th NE Ave

      WAREHOUSE, STORAGE • 8,894 SF
      1451 14th NE Ave, Hickory, NC 28601-2729
      View Details
    • Value Estimation
      $335,000
      4,300 SF

      931 18th St NE Dr

      WAREHOUSE, STORAGE • 4,300 SF
      931 18th St NE Dr, Hickory, NC 28601-4268
      View Details
    • Value Estimation
      $85,000
      5,138 SF

      1634 19th NE Ave

      WAREHOUSE, STORAGE • 5,138 SF
      1634 19th NE Ave, Hickory, NC 28601-2116
      View Details
    • Value Estimation
      $230,000
      2,072 SF

      1530 19th NE Ave

      WAREHOUSE, STORAGE • 2,072 SF
      1530 19th NE Ave, Hickory, NC 28601
      View Details
    • Value Estimation
      $325,000
      3,780 SF

      2810 23rd NE Ave

      WAREHOUSE, STORAGE • 3,780 SF
      2810 23rd NE Ave, Hickory, NC 28601-7997
      View Details

    Similar Nearby for Sale

    • $3,500,000
      74,356 SF

      Hickory Warehouse Near I-40

      74,356 SF warehouse with climate control and recent improvements.
      585 11Th Street Cir Northwest, Hickory, NC 28601
      View Details
    • $1,175,000
      13,592 SF

      Warehouse or Industrial Opportunity

      Warehouse or industrial property for sale in great location.
      529 Us Highway 321 NW, Hickory, NC 28601
      View Details
    • Contact for pricing
      54,986 SF

      Hickory Industrial Property For Sale

      Industrially zoned property with warehouse and office space in Hickory.
      2146 Highland Ave NE, Hickory, NC 28601
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    • $2,900,000
      74,356 SF

      Hickory Warehouse with Elevator Access

      74,356 SF warehouse suitable for distribution and warehousing.
      585 11Th St NW, Hickory, NC 28601
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    • Contact for pricing
      24,300 SF

      Hickory Truck Terminal on 20 Acres

      24,300 SF truck terminal on 20 acres in Hickory.
      750 18Th St NE, Hickory, NC 28601
      View Details
    • $2,950,000
      20.24 Acres

      Trucking Terminal with 50 Bays

      50-bay trucking terminal for streamlined operations in the transportation industry.
      754 18Th St NE, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • $69 SF/Yr
      6,000 SF

      Prime Catawba County Industrial Space

      6,000 SF Office/Warehouse - Available Now
      1700 11Th Ave, Hickory, NC 28601
      View Details
    • $15 SF/Yr
      81,208 SF

      Springs Corner Shopping Center Investment

      Hickory, NC Retail Center - High Visibility
      2515 Springs Rd, Hickory, NC 28601
      View Details
    • Contact for pricing
      1,277 SF

      Regional Shopping Center Retail Space

      Retail spaces available in Hickory's Belle Hollow shopping center.
      2982-3020 N Center St, Hickory, NC 28601
      View Details
    • $17 SF/Yr
      1,653 SF

      Retail Space in Hickory

      Retail space in busy NW Hickory shopping district.
      2923 N Center St, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Space in Hickory, NC

      Retail spaces available for lease in Hickory's prominent retail area.
      Hickory, NC 28601
      View Details
    • $2,500 /Mo
      28,750 SF

      Hickory Retail Space For Rent

      Versatile retail space on high-traffic Springs Road in Hickory, NC.
      2906 Springs Rd NE, Hickory, NC 28601
      View Details
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    585 11Th St NW
    Hickory, NC 28601
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    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
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