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    1823 E Salisbury St Asheboro, NC 27203

    View on Map
    Sponsored
    For Sale
    $950,000

    COMMERCIAL - Asheboro, NC

    Type:Retail
    Property size:
    2,032 SF
    Lot size:
    2.29 Acres
    Days on Market:
    20
    Last Refresh:
    Mar 7 at 2:06 am

    Property Features for 1823 E Salisbury St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    R-10, R-40
    APN
    7761822858
    Size
    2,032 SF
    Lot size
    2.29 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    MJ Bartlett

    Century 21 Becky Medlin Realty 919-552-4517 ext.222

    Listing agent MJ Bartlett (910) 890-0353

    Listing date Feb 16, 2026

    MLS# 10124381

    Copyright © 2026 Doorify 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

    Prime Commercial Redevelopment Opportunity

    This 2.29-acre parcel presents a commercial redevelopment opportunity in east Asheboro, positioned in the city's auto dealership corridor, adjacent to Asheboro Chrysler Dodge Jeep Ram and directly across from Asheboro Nissan and Asheboro Honda. The site benefits from visibility on East Dixie Drive, a primary business corridor, with traffic counts of 19,544 and 16,323 AADT. Located at the signalized intersection of East Dixie Drive and East Salisbury Street, the site is suitable for retail, office, mixed-use, or high-density residential development. Asheboro Mall, with retailers such as Belk, Books-A-Million, Bath & Body Works, Ulta, Dunham Sports, and Chick-fil-A, is less than a half mile to the west. The site currently includes an older home; however, the value lies in redevelopment for commercial use. Annexation into the City of Asheboro and rezoning will be required, supported by the City's Land Use Plan and the Planning Department, given the surrounding commercial activity. Buyers will coordinate with the City Engineering Department for water and sewer services. Currently zoned R-10 and R-40 in Randolph County outside city limits, the property allows for a range of potential uses. The property's visibility, traffic counts, and proximity to established retail and auto dealerships make it an attractive investment and development opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheboro
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.780373
    Latitude
    35.705628

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    FAQs

    What type of property is this?
    Commercial land - 2.29-acre parcel in Asheboro's auto dealership corridor.
    Where is this commercial land located?
    The property is located at 1823 E Salisbury St Asheboro, NC.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - Prime commercial redevelopment opportunity in booming east Asheboro.; - Excellent visibility on East Dixie Drive with high traffic counts (19,544 and 16,323 AADT).; - Located in the heart of the city's auto dealership corridor.
    (910) 890-0353
    Request Owner's contact information
    1823 E Salisbury St Asheboro, NC 27203
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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
    1823 E Salisbury St Asheboro, NC 27203
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    Listing Contact
    MJ Bartlett
    (910) 890-0353
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