Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1450 St Lukes Church Rd Salisbury, NC 28146

    View on Map
    Sponsored
    For Sale
    Under Contract
    $59,000

    LAND - Salisbury, NC

    Lot size:
    4.09 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 9 at 1:06 pm

    Property Features for 1450 St Lukes Church Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    629004
    Lot size
    4.09 Acres

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well

    We can help!

    Listing Contact
    Al DiRusso

    Exp Realty, LLC (704) 616-7424

    Listing agent Al DiRusso (781) 258-6182

    Listing date Mar 8, 2026

    MLS# 4353052 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Cleared Land in Salisbury, NC

    This listing features three adjoining lots totaling 4.09 acres. The land is mostly cleared, graded, and level, with some trees remaining. Previous houses have been removed from the parcels. The property offers potential for subdivision to build multiple homes or multifamily dwellings, or for constructing a single home with seclusion. Alternative uses include a hobby farm, livestock storage, or agricultural purposes. A well house is located toward the front of the property, but its condition and operation are unknown. The previous dwellings were unoccupied for many years. A gravel drive extends to the far left of the property, reaching the back. The main lot is 0.99 acres, with additional lots measuring 2.46 acres and 0.63 acres. A survey was completed in 2021 and is available in the attachments. The land will not perc to accept a conventional septic system, requiring an engineered or unconventional system for livable dwellings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.40758895
    Latitude
    35.59944278

    Nearby Similar for Sale

    • New
      $900,000
      9,000 SF

      Industrial Warehouse with Oversized Doors

      9,000 SF industrial warehouse near I-85 in Salisbury, NC.
      6515 Mooresville Rd, Salisbury, NC 28147
      View Details
    • $450,000
      0.29 Acres

      Historic Downtown Salisbury Commercial Building

      Versatile commercial building in historic downtown Salisbury with ample parking.
      309 N Main St, Salisbury, NC 28144
      View Details
    • New
      $167,750
      Pending

      Office Space with High Visibility

      Prime office location on major highway with constant exposure.
      228 Statesville Blvd, Salisbury, NC 28144
      View Details
    • $278,777
      0.37 Acres

      Functional Office Space with Furnishings

      Well-appointed office with five offices, conference room, and furnishings.
      400 Statesville Blvd, Salisbury, NC 28144
      View Details
    • $274,500
      0.33 Acres

      Commercial Office Space in Salisbury

      Move-in ready office space with prime location and ample parking.
      636 Statesville Blvd, Salisbury, NC 28144
      View Details
    • $108,000
      0.38 Acres

      Salisbury Commercial Land For Sale

      Land zoned for hospital services near Novant Health Rowan.
      1045 Highland Ave, Salisbury, NC 28144
      View Details
    • $399,900
      2.75 Acres

      Salisbury Heavy Industrial Building For Sale

      8,090 sq ft industrial building on 2.75 acres.
      1300 Van Nuys St, Salisbury, NC 28145
      View Details
    • $462,400

      Updated Office Space For Sale

      Prime office space in excellent condition, ready for business.
      1035 Lincolnton Rd Unit, Salisbury, NC 28144
      View Details
    • $149,900
      924 SF

      Office Condo Near I-85

      924 SF office condo with private offices and upgrades.
      1620 S Martin Luther King Jr Ave, Salisbury, NC 28144
      View Details
    • $775,000

      Storage Facility with Commercial Space

      Renovated storage facility with commercial space on Highway 150.
      1812 Mooresville Rd, Salisbury, NC 28147
      View Details
    • Contact for pricing
      8,961 SF

      Downtown Salisbury Retail/Warehouse Opportunity

      Retail and warehouse space in Downtown Salisbury for sale.
      211 E Innes St, Salisbury, NC 28144
      View Details
    • $1,950,000

      Tenant-Operated C-Store with Updated Pumps

      Highly visible C-Store with updated pumps in Salisbury, NC.
      1014 W Innes St, Salisbury, NC 28144
      View Details

    FAQs

    What type of property is this?
    Land - 4.09 acres of cleared land suitable for various uses.
    Where is this land located?
    The property is located at 1450 St Lukes Church Rd Salisbury, NC.
    What is the asking price?
    The asking price for this property is $59,000.
    What are key features of this property?
    This property features: - Large 4.09-acre parcel comprised of 3 adjoining lots.; - Subdividable for multiple homes or multifamily dwellings.; - Mostly cleared, graded, and level land.
    (781) 258-6182
    Request Owner's contact information
    1450 St Lukes Church Rd Salisbury, NC 28146
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1450 St Lukes Church Rd
    Salisbury, NC 28146
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1450 St Lukes Church Rd Salisbury, NC 28146
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Al DiRusso
    Real Estate License ID: 123665
    (781) 258-6182 (888) 584-9431
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!