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    402 S Chester St Gastonia, NC 28052

    Sponsored
    For Lease
    $3,995 /Mo ($2 SF/Yr)

    COMMERCIAL - Gastonia, NC

    Lot size:
    0.46 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 25 at 2:06 pm

    Property Features for 402 S Chester St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Window features
    Insulated Windows
    Rooms
    Basement, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2
    Bathrooms
    4
    APN
    108557
    Parking
    6
    Parking features
    Driveway, Parking Lot
    Patio and Porch features
    Porch, Deck
    Basement
    Storage Space, Unfinished, Walk-Out Access, Exterior Entry, Sump Pump
    Appliances
    Dishwasher, Disposal, Exhaust Fan, Exhaust Hood, Gas Cooktop, Gas Oven, Gas Water Heater, Microwave, Plumbed For Ice Maker, Tankless Water Heater
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Expense value
    4995
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1905
    Floors in Building
    3
    Number of units
    1
    Flooring type
    Wood, Tile
    Building materials
    Fiber Cement
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jim Townsend

    Latria Incorporated (704) 614-1474

    Listing agent Jim Townsend (704) 614-1474

    Listing date Jan 12, 2026

    MLS# 4274034 Listing URL

    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

    Restored Office Space in Gastonia

    This commercial property is located in the highly sought-after Historic District of Gastonia, North Carolina. The building has been completely restored and renovated, featuring new HVAC systems, a Rinnai tankless water heater, and upgraded electrical panels. Hardwired smoke and CO2 detectors and a CPI security system are in place. The property offers nearly 5,000 sqft of space with soaring ceilings and meticulously restored historic charm. Situated on a corner lot with road frontage, it includes ample rear parking. The O-1 Zoning designation allows for various permitted uses. By right, these include offices for law, financial, medical, dental, and health & behavioral care, as well as arts and craft studios. Supplemental uses include family child care homes, assisted living centers, group homes, independent living centers, private dining clubs, churches or places of worship, single-family residences, and schools (both public and private). Conditional uses include medical facilities, continuing care facilities, veterinarian animal hospitals, indoor fraternal and service organization meeting facilities, and multi-family maternity homes. The lot size is 0.46 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.187147
    Latitude
    35.258868

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    FAQs

    What type of property is this?
    Office space - Historic office space with modern amenities in Gastonia, NC.
    Where is this office space located?
    The property is located at 402 S Chester St Gastonia, NC.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - Completely restored and renovated from top to bottom with new systems including HVAC, and electrical panels.; - Prime location in highly sought-after Historic District on a corner lot with ample rear parking.; - Versatile O-1 Zoning allows for a wide range of permitted uses.
    (704) 614-1474
    Request Owner's contact information
    402 S Chester St Gastonia, NC 28052
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    Gastonia, NC 28052
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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
    402 S Chester St Gastonia, NC 28052
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    We can help!
    Listing Contact
    Jim Townsend
    Real Estate License ID: 243042
    (704) 614-1474
    Learn more
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