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    1481 Depot Street Iron Station, NC 28080

    View on Map
    For Sale
    $565,000

    COMMERCIAL - Iron Station, NC

    Lot size:
    0.75 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    130
    Last Refresh:
    Apr 3 at 2:06 pm

    Property Features for 1481 Depot Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2
    Parking features
    Carport, Driveway
    Window features
    Insulated Windows
    Patio and Porch features
    Porch
    Appliances
    Dishwasher, Electric Range, Microwave, Refrigerator with Ice Maker
    Standard status
    Active
    APN
    26651
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Description
    HOME & POST OFFICE

    Utilities

    Utilities
    Cable Available
    Heating system
    Ductless (Heating)
    Cooling system
    Ductless
    Water source
    Well

    Building Details

    Year built
    1900
    Flooring type
    Tile, Laminate, Wood
    Building materials
    Vinyl
    Roof type
    Composition
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Judy Brandt
    Judy Brandt

    Listing agent Judy Brandt License #300677

    Listing office RE/MAX Crossroads 111 E. Main St., Lincolnton, NC

    Listing date Nov 24, 2025

    MLS# 4325342

    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.

    Overview

    Historic Mixed-Use Property, Iron Station

    This property offers a blend of residential charm and business potential. The spacious home features 5 bedrooms and 2.5 bathrooms, combining early 1900s character with modern updates. Large rooms and generous storage provide ample space. Zoned Business-Neighborhood, the property presents opportunities for entrepreneurs, hobbyists, or investors. The original Iron Station Post Office, currently used for storage, offers options for retail, office space, a studio, boutique, or other business ventures. A separate workshop with electricity adds further value, suitable for trades, creative pursuits, or potential rental income. The property's layout and features are suited for live/work arrangements, private ventures, or flexible lifestyle use. The lot size is 0.754 acres. The property is located in Iron Station, Lincoln County, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Discount Store Grocery & Convenience Store Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Iron Station
    County
    Lincoln
    State
    North Carolina
    Longitude
    -81.156008
    Latitude
    35.442172

    FAQs

    What type of property is this?
    Mixed-use property - Charming property with residential and business potential in Iron Station.
    Where is this mixed-use property located?
    The property is located at 1481 Depot Street Iron Station, NC.
    What is the asking price?
    The asking price for this property is $565,000.
    What are key features of this property?
    This property features: Zoned Business‑Neighborhood, offering exceptional business potential.; Original Iron Station Post Office on the property, suitable for retail, office, studio, or boutique.; Spacious 5‑bedroom home with large rooms and generous storage.
    (704) 530-8235
    We can help!
    Listing Contact
    Judy Brandt
    Judy Brandt
    Real Estate License ID: 300677
    Learn More
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    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
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