909 Main StSalisbury, NC 28144

Property Details for 909 Main St

Year built

1920

Lot size

0.64 AC

Property size (Sq ft)

19,851 SF

Zone code

BRT

Property type

Office properties

Property subtype

Office buildings

APN

015 420

APU

15420

Description

This exceptional Salisbury, NC investment opportunity encompasses three buildings totaling 21,879 square feet on a 1.74-acre lot. The property, located at 901-909, 917, and 917 B & C S Main St, features a mix of office and retail space, currently occupied by a single tenant hair salon with additional storage units. Built in 1920 and 1950, the two-story structures boast a desirable NMX zoning, allowing for high-density multi-family development with zero lot line setbacks. While the current zoning restricts parking to two spaces per unit, the significant lot size presents considerable redevelopment potential. The asking price is $1,452,000, or $66.37 per square foot. This portfolio offers a compelling blend of existing income and future development possibilities. Serious inquiries regarding individual or portfolio offers are welcome. The property is situated in Rowan County, NC, zip code 28144. The seller is open to considering reasonable offers for the entire portfolio, although individual offers will also be considered.

• CAP approach

  CAP return

  Valuation

  6%

  $4,198,162

  6.5%

  $3,875,227

  7%

  $3,598,425

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,196,296

  Geo Method

  $3,361,568

• Alternative Use

  Use

  Valuation

  Residential

  $4,805,282

  Hospitality

  $4,401,612

  Educational

  $3,662,090

  Medical

  $3,788,034

  Retail

  $5,696,584

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Latitude

35.66

Longitude

-80.4797

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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