This exceptional 1.78-acre commercial property, situated at 612 S Main Street in the heart of Salisbury, NC, presents a compelling investment opportunity. Currently generating a monthly rental income of $4200 from an existing tenant, this property offers significant potential for future growth and development. Its prime location within walking distance of Salisbury's vibrant downtown area, brimming with restaurants, breweries, and shops, ensures high visibility and accessibility. The DMX zoning designation provides flexibility, allowing for a diverse range of uses, including multi-family residential development (condos or apartments) and various commercial ventures. This versatility makes it an ideal canvas for a variety of projects, catering to the growing demand for both residential and commercial spaces in the area. Adding to its appeal, the property is located within an Opportunity Zone, potentially offering significant tax advantages for investors. The substantial lot size and strategic location make this a rare find in the Salisbury market, promising strong returns and long-term value appreciation. This is a chance to acquire a high-performing asset with considerable upside potential in a thriving downtown setting. Serious inquiries are encouraged.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$1,305,823
6.5%
$1,205,375
7%
$1,119,277
Comparable approach
Method
Valuation
Relative Method
$1,862,471
Geo Method
$2,067,113
Alternative Use
Use
Valuation
Residential
$1,016,779
Hospitality
$931,364
Educational
$774,884
Medical
$801,533
Retail
$1,205,375
Location Insight
City
Salisbury
County
Rowan
State
North Carolina
Latitude
35.6631
Longitude
-80.4764
CBSA code
16740
CBSA name
CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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