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

    1702 S Main Street Lexington, NC 27292

    View on Map
    For Sale
    $179,900

    Retail - Lexington, NC

    Type:Retail
    Lot size:
    0.88 Acres
    Added:
    Mar 13, 2026
    Days on Market:
    23
    Last Refresh:
    Apr 4 at 12:06 am

    Property Features for 1702 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    B
    Vegetation
    Cleared
    Exterior features
    City Lot, Cleared, Corner Lot, Level
    Standard status
    Active
    Lot size
    0.88 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Gayle Grubb

    Listing agent Gayle Grubb

    Listing office Leonard Craver Realty 2451 Arnold Rd, Lexington, NC

    Listing date Mar 13, 2026

    MLS# 1129479 Listing URL

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

    Overview

    Commercial Lot on Main Street

    This commercial lot, located at 1702 S Main Street in Lexington, NC, is zoned B and suitable for retail, gas station, houses, or drive-through restaurant use. The property is greater than 0.88 of an acre and offers frontage on S. Main Street, Crutchfield Avenue, and Stamey Avenue. It benefits from heavy traffic exposure and excellent visibility. The sale includes two side-by-side lots on South Main Street; the additional parcel number is 1117500000001. This property is located in Davidson County, with a postal code of 27292.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.273949
    Latitude
    35.807707

    Nearby Similar for Sale

    • $565,000

      High-Visibility Commercial Land in Lexington

      Highly visible 1.39-acre commercial land in high-traffic Lexington location.
      10 Burler Street, Lexington, NC 27292
      View Details
    • $299,000

      Restaurant Space with Commercial Kitchen

      Restaurant space with commercial kitchen and ample parking in Lexington.
      518 Southbound Street, Lexington, NC 27292
      View Details
    • $1,300,000

      Versatile Industrial Building in Lexington

      Renovated industrial building with over 23,000 sq. ft. space.
      30 E 1St Street, Lexington, NC 27292
      View Details
    • $250,000

      Corner Lot Commercial Opportunity

      Commercial corner lot near I-85, downtown Lexington.
      1240 Fairview Drive, Lexington, NC 27292
      View Details
    • $1.00

      Lexington Office Space Available

      Office space featuring private offices, reception area, and bathrooms.
      102-c W 1st Avenue, Lexington, NC 27292
      View Details
    • $59,000

      Buildable Lot in Yachtsman's Point

      Cleared lot with community amenities near High Rock Lake.
      314 Scout Road, Lexington, NC 27292
      View Details
    • $30,000

      Land Near High Rock Lake

      Versatile land parcel near High Rock Lake in Lexington, NC.
      411 Poplar Drive, Lexington, NC 27292
      View Details
    • $112,500

      Lexington Land with Outbuildings

      1.33 acre lot with outbuildings and potential.
      538 E Holly Grove Road, Lexington, NC 27292
      View Details
    • $95,000

      Lexington, NC Multi-Use Lot

      1.07-acre lot zoned for multi-use near North Main Street.
      402 Martin Luther King Jr Boulevard, Lexington, NC 27292
      View Details
    • $59,000

      Residential Lot in Lexington, NC

      2.38 acre residential lot, close to Lexington, NC.
      0 Pilgrim Court, Lexington, NC 27295
      View Details
    • $40,000

      Lexington, NC Acreage Homesite

      1.83 acres in Lexington, NC to build your dream home.
      1197 Briggstown Road, Lexington, NC 27292
      View Details
    • $60,000

      Land Tract in Lexington, NC

      2.26 acre land tract with road frontage.
      3 Linwood Road, Lexington, NC 27292
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot suitable for retail, gas station, or restaurant.
    Where is this commercial land located?
    The property is located at 1702 S Main Street Lexington, NC.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: Zoned B, ideal for Retail, Gas Station, Houses, or Drive‑through Restaurant; High‑traffic location with excellent visibility on S. Main Street; Large lot size: over 0.88 acres
    (336) 242-3922
    We can help!
    Listing Contact
    Gayle Grubb
    Real Estate License ID: 38570
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!