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1860 Main Ave SE 70,000 SF Industrial Building Hickory, NC 28602 $3,159,021 ($45.13/SF) 7.25% Cap Rate
Investment Highlights
- The tenant covers real estate taxes, insurance, utilities, and all property maintenance under the NN lease
- The passive structure suits 1031-exchange and out-of-state buyers seeking low-management income
- The ±70,000 SF building (8,135 SF office / 61,865 SF warehouse) accommodates office, manufacturing, and warehouse uses
- Landlord obligations are limited to the roof, exterior walls, and structure, minimizing ownership duties
- In-place rent of approximately $3.27/SF sits roughly 27% below the $4.50/SF Hickory infill industrial market
- 16’ clear height, one drive-in door, and seven dock-high doors support light-industrial and distribution users
Executive Summary
RIPCO Real Estate is pleased to offer for sale 1860 Main Avenue SE, a ±70,000 square foot single-tenant office and warehouse building on ±3.86 acres at the hard
corner of Main Avenue SE and 19th Street SE in Hickory, North Carolina. The property is leased on a NN basis to Cable Materials Center LLC, personally guaranteed
by both principals, at a current annual base rent of $229,029 ($3.27/SF), with 2 years of term remaining. In-place rent of roughly $3.27/SF sits approximately 27%
below prevailing market rents of $4.50/SF for comparable Hickory infill industrial space, establishing a defensive, below-market basis that protects the downside and
incentivizes renewal. Cable Materials Center provides tapes and high-quality protective cable materials to Corning Incorporated, one of the largest fiber optic cable
manufacturers in the world. In January 2026, Corning signed a multi-year, up to $6 billion agreement with Meta (NASDAQ: META) to supply specialized fiber-optic cables
for Meta’s U.S. AI data centers. Within 3 miles, the population is 39,663 with an average household income of $86,398.
The asset would be an attractive opportunity for investors seeking durable, in-place income at a below-market basis, in a supply-constrained Southeastern manufacturing
market that produces up to 40% of the nation’s fiber-optic cable.
corner of Main Avenue SE and 19th Street SE in Hickory, North Carolina. The property is leased on a NN basis to Cable Materials Center LLC, personally guaranteed
by both principals, at a current annual base rent of $229,029 ($3.27/SF), with 2 years of term remaining. In-place rent of roughly $3.27/SF sits approximately 27%
below prevailing market rents of $4.50/SF for comparable Hickory infill industrial space, establishing a defensive, below-market basis that protects the downside and
incentivizes renewal. Cable Materials Center provides tapes and high-quality protective cable materials to Corning Incorporated, one of the largest fiber optic cable
manufacturers in the world. In January 2026, Corning signed a multi-year, up to $6 billion agreement with Meta (NASDAQ: META) to supply specialized fiber-optic cables
for Meta’s U.S. AI data centers. Within 3 miles, the population is 39,663 with an average household income of $86,398.
The asset would be an attractive opportunity for investors seeking durable, in-place income at a below-market basis, in a supply-constrained Southeastern manufacturing
market that produces up to 40% of the nation’s fiber-optic cable.
Data Room Click Here to Access
Property Facts
| Price | $3,159,021 | Rentable Building Area | 70,000 SF |
| Price Per SF | $45.13 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1957 |
| Cap Rate | 7.25% | Tenancy | Single |
| Property Type | Industrial | Clear Ceiling Height | 18’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 7 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 3.86 AC | ||
| Zoning | IND - IND - Industrial (City of Hickory) | ||
| Price | $3,159,021 |
| Price Per SF | $45.13 |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 3.86 AC |
| Rentable Building Area | 70,000 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Tenancy | Single |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 7 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | IND - IND - Industrial (City of Hickory) |
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Cable Materials
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- -
- -
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Cable Materials | - | - | - | Lorem Ipsum | Jan 0000 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 3712076903130000 | Improvements Assessment | $2,162,700 |
| Land Assessment | $149,400 | Total Assessment | $2,312,100 |
Property Taxes
Parcel Number
3712076903130000
Land Assessment
$149,400
Improvements Assessment
$2,162,700
Total Assessment
$2,312,100
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