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2920 Lee Ave 9,690 SF Industrial Building Sanford, NC 27332 $2,621,350 ($270.52/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Laydown yard
- Close proximity to the US 421 Hwy Bypass, offering a four-lane divided highway to US 1 Hwy and the Raleigh-Durham metro area.
- outside storage
EXECUTIVE SUMMARY
Freestanding flex investment with laydown available for purchase with a new, 10-year Herc Rental Lease.
9,690 SF flex/warehouse with ±1 acre of laydown yard
1.9 acres
Zoned C-2
Turnkey office, showroom and 2 warehouses
Warehouse 1: 6,690 SF total (6 drive-in doors)
Warehouse 2: 3,000 SF total (4 drive-in doors)
Lease Commencement: March 1, 2025
Lease Expiration: April 30, 2035
Lease Term: 10yrs
Options Remaining: Two (2) options to renew for five (5) years each
Lease Type: NN
Rent Increases: 2.5% annually
Cap rate: 6.5%
NOI: $170,388
Sale price: $2,621,350
9,690 SF flex/warehouse with ±1 acre of laydown yard
1.9 acres
Zoned C-2
Turnkey office, showroom and 2 warehouses
Warehouse 1: 6,690 SF total (6 drive-in doors)
Warehouse 2: 3,000 SF total (4 drive-in doors)
Lease Commencement: March 1, 2025
Lease Expiration: April 30, 2035
Lease Term: 10yrs
Options Remaining: Two (2) options to renew for five (5) years each
Lease Type: NN
Rent Increases: 2.5% annually
Cap rate: 6.5%
NOI: $170,388
Sale price: $2,621,350
PROPERTY FACTS
| Price | $2,621,350 | Rentable Building Area | 9,690 SF |
| Price Per SF | $270.52 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1973 |
| Cap Rate | 6.50% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.24/1,000 SF |
| Building Class | C | No. Drive In / Grade-Level Doors | 10 |
| Lot Size | 1.90 AC | ||
| Zoning | C-2 - Commercial | ||
| Price | $2,621,350 |
| Price Per SF | $270.52 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Property Type | Industrial |
| Building Class | C |
| Lot Size | 1.90 AC |
| Rentable Building Area | 9,690 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Tenancy | Single |
| Parking Ratio | 1.24/1,000 SF |
| No. Drive In / Grade-Level Doors | 10 |
| Zoning | C-2 - Commercial |
AMENITIES
- Storage Space
1 1
PROPERTY TAXES
| Parcel Number | 9651-68-7716-00 | Improvements Assessment | $217,100 |
| Land Assessment | $164,700 | Total Assessment | $381,800 |
PROPERTY TAXES
Parcel Number
9651-68-7716-00
Land Assessment
$164,700
Improvements Assessment
$217,100
Total Assessment
$381,800
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2920 Lee Ave
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