Add Listing
    For Lease
    • 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

    220 E Water Street unit B Statesville, NC 28677

    View on Map
    New
    For Lease
    $450 /Mo

    COMMERCIAL - Statesville, NC

    Type:Office
    Lot size:
    0.20 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    1
    Last Refresh:
    Mar 31 at 7:06 pm

    Property Features for 220 E Water Street unit B

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    4744-06-7675.000
    Lot size
    0.20 Acres

    Taxes and HOA fees

    TaxDescription
    DAVIE AVE
    Expense value
    400
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1916
    Floors in Building
    2
    Flooring type
    Vinyl

    We can help!

    Listing Contact
    Jon Grigorian

    Listing agent Jon Grigorian License #131675

    Listing office Lakeshore Realty, Inc. 256 Raceway Dr, Ste 12, Mooresville, NC

    Listing date Mar 31, 2026

    MLS# 4362895

    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

    Downtown Statesville Office Space

    Office space is available for lease in downtown Statesville, North Carolina. The property is located across the street from the Iredell County Courthouse. The common area includes two bathrooms, a foyer waiting area, and ample parking. Utilities and CAM are included in the lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Little Nelson C Law Firm American Bail Bonds Law Firm

    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
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.885713
    Latitude
    35.78694

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Statesville Office Space

      Open office space in historic downtown Statesville with hardwood floors.
      121 N Center Street unit: 206, Statesville, NC 28677
      View Details
    • Contact for pricing

      Downtown Statesville Office Space Available

      2,600+ sq ft office space in downtown Statesville, NC.
      233 Davie Avenue, Statesville, NC 28677
      View Details
    • Contact for pricing

      Downtown Statesville Office Space Available

      Office space with parking in downtown Statesville, North Carolina.
      211 Walnut Street, Statesville, NC 28677
      View Details
    • Contact for pricing

      Downtown Statesville Office Space

      Two-story office space in downtown Statesville available for rent.
      126 S Tradd Street, Statesville, NC 28677
      View Details
    • Contact for pricing

      Statesville Office Space For Rent

      Large open office space with private offices and ample parking.
      1519 Newton Drive, Statesville, NC 28677
      View Details
    • Contact for pricing

      Unique Commercial Space in Statesville

      Multi-level commercial space with high visibility and ample parking.
      1515 Newton Drive, Statesville, NC 28677
      View Details
    • Contact for pricing

      Statesville Commercial Building For Rent

      Professional office or retail building in Statesville's Central Business District.
      120 S Tradd Street, Statesville, NC 28677
      View Details
    • Contact for pricing

      Statesville Commercial Office Space Available

      Freestanding office space for lease in high-traffic area.
      1521 Newton Drive, Statesville, NC 28677
      View Details
    • Contact for pricing

      Statesville Warehouse with Basement Storage

      Open warehouse space with full basement available for lease.
      1505 Newton Drive, Statesville, NC 28677
      View Details
    • Contact for pricing

      Statesville Drive-Thru Restaurant Opportunity

      Freestanding drive-thru restaurant space in Statesville's retail corridor.
      Statesville, NC 28625
      View Details
    • $15/mo

      Retail Space Near Amenities

      Retail space available near hotels, restaurants, and car dealerships.
      1525-1531 Cinema Dr, Statesville, NC
      View Details
    • Contact for pricing

      Statesville Industrial Space for Lease

      301,954 SF industrial space with office on 30.25 acres.
      111 Badger Ln, Statesville, NC 28625
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for lease in a prime downtown location.
    Where is this office units located?
    The property is located at 220 E Water Street unit B Statesville, NC.
    What is the lease rate?
    The lease rate is $450 /Mo.
    What are key features of this property?
    This property features: Prime downtown Statesville location, directly across from the Iredell County Courthouse; Lease includes utilities and CAM; Ample parking available
    (704) 201-8592
    We can help!
    Listing Contact
    Jon Grigorian
    Real Estate License ID: 131675
    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!