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    2504 Newton Dr Statesville, NC 28677

    View on Map
    Sponsored
    For Sale
    $450,000

    COMMERCIAL - Statesville, NC

    Lot size:
    1.40 Acres
    Days on Market:
    4
    Last Refresh:
    Mar 23 at 9:06 am

    Property Features for 2504 Newton Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B5
    APN
    4724-73-6730 (PLUS 3 LOTS)
    Parking features
    Parking Lot
    Patio and Porch features
    Porch
    Lot size
    1.40 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Heat Pump (Heating), Central, Electric (Heating)
    Cooling system
    Central Air, Electric, Heat Pump
    Water source
    Well

    Building Details

    Year built
    1957
    Flooring type
    Vinyl
    Roof type
    Metal

    We can help!

    Listing Contact
    Marissa Cooper Winstead

    Cooper Southern Properties, INC

    Listing agent Marissa Cooper Winstead

    Listing date Mar 20, 2026

    MLS# 4359693

    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 Property with Income Potential

    This commercial property, zoned General Business B5, offers a multi-parcel opportunity on approximately 1.4 acres. Located off Hwy 70 near the Statesville airport, it is close to I-40 and a few miles from I-77 in Statesville. The property features four parcels with a mix of commercial and residential zoning. The front parcels and building are zoned General Business B5, offering visibility and accessibility, while the rear parcels are zoned residential, providing additional space and possibilities. A small portion of the back residential lot is subject to an AT&T utility easement. The building has historically been configured as two separate units, each with its own systems, making it suitable for multiple tenants or a single business operation. It includes two bathrooms and multiple office spaces with a large reception area. The property is currently occupied by an established sewing/alterations business, with a lease in place through May 2026, and the tenant is interested in staying, providing immediate income potential. The tenant requires a minimum of 60 days after the lease to move but prefers to stay. Property features include separate HVAC systems, electrical services, and water heaters, allowing for independent functionality on each side. The structure has been improved over time with a metal roof, exterior updates, interior updates, electrical upgrades, and replacement window glass. The property is serviced by a well, with county water available at the road, and a septic system. This property has a history of commercial use and presents an opportunity for investors or owner-users seeking flexibility, rental income potential, and room to grow. It is located in the Iredell Co. EJT District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Case Management Services Crisis Center Needle And Thread (Bike/Boat/Book/etc) Store Project Linus Association / Organization

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.929692
    Latitude
    35.778181

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    FAQs

    What type of property is this?
    Storefront property - Commercial property with multi-parcel opportunity, tenant in place through May 2026.
    Where is this storefront property located?
    The property is located at 2504 Newton Dr Statesville, NC.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Prime Location: Close to Hwy 70, Statesville Airport, I-40, and I-77, offering excellent accessibility.; - Income Potential: Currently leased to an established business with tenant interested in staying, providing immediate rental income through May 2026.; - Versatile Zoning: Features both General Business (B5) and residential zoning across four parcels, offering flexibility for various uses.
    (828) 217-5812
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    2504 Newton Dr Statesville, NC 28677
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    Statesville, NC 28677
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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
    2504 Newton Dr Statesville, NC 28677
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    We can help!
    Listing Contact
    Marissa Cooper Winstead
    Real Estate License ID: 204013
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