612 Main StSalisbury, NC 28144
- Retail properties
- 4,844 SF
Property Details for 612 Main St
- Year built
- 1961
- Lot size
- 1.14 AC
- Property size (Sq ft)
- 4,844 SF
- Zone code
- B5
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 015 356
- APU
- 15356
Description
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
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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