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    The Largest CRE Database in the US with Over 1 Million Listings

    2065 Lower Palmer Rd Salisbury, NC 28146

    Sponsored
    For Lease
    $2,900 /Mo ($1.63 SF/Yr)

    COMMERCIAL - Salisbury, NC

    Property size:
    4,370 SF
    Lot size:
    0.49 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 26 at 12:06 am

    Property Features for 2065 Lower Palmer Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    636049
    Parking features
    Parking Lot
    Size
    4,370 SF
    Lot size
    0.49 Acres

    Taxes and HOA fees

    Expense value
    2900
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Building Details

    Year built
    1976
    Flooring type
    Concrete, Tile
    Building materials
    Brick Partial, Vinyl

    We can help!

    Listing Contact
    Rob Nance

    NorthGroup Real Estate LLC (704) 400-2252

    Listing agent Rob Nance (704) 239-3559

    Listing date Jan 19, 2026

    MLS# 4337833

    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

    Versatile Commercial Building in Salisbury

    This 4,370 square foot commercial building is situated on approximately 0.49 acres. The property is ideally suited for service-based and flex users. Located on Lower Palmer Road in Salisbury, North Carolina, the property offers strong visibility and direct access, along with ample on-site parking suitable for employees, customers, and light fleet vehicles. The open interior layout provides flexibility for various uses, including office, showroom, shop, light storage, or contractor operations. Potential business uses include HVAC, plumbing, electrical, and mechanical contractors, as well as specialty trade showrooms for flooring, cabinetry, and paint. It is also suitable for service companies requiring an office front with warehouse or shop space, and small distribution or e-commerce fulfillment. The site's lot depth, easy truck circulation, and minimal surrounding residential impact make it attractive for fleet-oriented and trade users. The property is located minutes from I-85, Downtown Salisbury, and the East Spencer Revitalization Area, offering regional connectivity while avoiding urban congestion. Utilities include well, septic, Duke Energy, and propane. The property is not located in a flood zone, offering a versatile building in a high-demand service corridor with access, parking, and operational flexibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.37822
    Latitude
    35.568018

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    FAQs

    What type of property is this?
    Flex space - Well-located commercial building suited for service-based and flex users.
    Where is this flex space located?
    The property is located at 2065 Lower Palmer Rd Salisbury, NC.
    What is the lease rate?
    The lease rate is $1.63 SF/Yr.
    What are key features of this property?
    This property features: - Excellent location with strong visibility and direct access on Lower Palmer Road.; - Versatile 4,370 SF building suitable for service-based and flex users (office, showroom, shop, light storage).; - Ample on-site parking for employees, customers, and light fleet vehicles.
    (704) 239-3559
    Request Owner's contact information
    2065 Lower Palmer Rd Salisbury, NC 28146
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    Salisbury, NC 28146
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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
    2065 Lower Palmer Rd Salisbury, NC 28146
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    We can help!
    Listing Contact
    Rob Nance
    (704) 239-3559
    Learn more
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