Downtown Forest City Commercial
155/157 E Main Street Forest City, NC 28043
For Sale
$229,000
SINGLE_FAMILY - Forest City, NC
Property Size1,704 SF
Lot Size0.09 Acres
Price / SF$134.39
Days on Market187
Property Features for 155/157 E Main Street
General Information
- Property type
- Residential
- Property subtype
- Retail
- Parking features
- On Street
- Standard status
- Active
- APN
- 1643924
- Size
- 1,704 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- BLDG: E MAIN & N POWELL
Utilities
- Sewer type
- Public Sewer
Building Details
- Year built
- 1940
- Building materials
- Brick Full
Listing Agency:
Odean Keever & Associates, Inc.
(828) 286-1311
Listed By:
Sonja Smith · License #133997
(828) 748-5359
Added: Jan 19
Changed: Jun 1
Last Checked: Jul 25 at 10:06AM
MLS# 4336275
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.
Investment Insights
Based on property information with market context.
Located in the highly desirable business district of downtown Forest City, this commercial property offers an exceptional opportunity for investors and entrepreneurs. Situated on W. Main Street within the West Main Historic District, the property offers visibility, accessibility, and traffic exposure. The property is configured to accommodate three separate business spaces, providing flexibility for multi-tenant income, owner-occupied use, or reconfiguration to suit commercial needs. An additional potential site on the back of the property allows for further business expansion or development. With possibilities for retail, office, or service-based uses, this multi-use property is positioned in a growing area. The property is 1,704+/- square feet and sits on a 0.09-acre lot.
Key Highlights
- Prime location in the highly desirable downtown Forest City business district.
- High visibility and accessibility on W. Main Street in the West Main Historic District.
- Versatile 1,704 sq ft building configurable for multi‑tenant use, owner‑occupancy, or redevelopment.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.5k | $14.40 |
| − Vacancy | −$466 | −$0.27 |
| EGI | $24.1k | $14.13 |
| − OpEx | −$7.2k | −$4.24 |
| NOI | $16.8k | $9.89 |
1,704 SF · lease $14.40/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$240.7K
$210.6K – $280.8K
NOI $16,850 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.8K
$328.8K – $438.4K
NOI $26,304 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - Versatile commercial property in a desirable downtown location.
Where is this storefront property located?
The property is located at 155/157 E Main Street Forest City, NC.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Prime location in the highly desirable downtown Forest City business district.; High visibility and accessibility on W. Main Street in the West Main Historic District.; Versatile 1,704 sq ft building configurable for multi‑tenant use, owner‑occupancy, or redevelopment.
