Brick Mixed-Use
For Sale
$274,900
414 W Main Avenue, Gastonia, NC 28052
Commercial Sale, Gastonia, NC
Property Size1,628 SF
Lot Size0.18 Acres
Price / SF$168.86
Days on Market532
Property Features for 414 W Main Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning description
RET01
Parking features
Driveway
Lot features
Level
Standard status
Active
APN
105957
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
FANNIE MORROW EST L P/3 01 038 042 00 000
Legal Description
FANNIE MORROW EST L P/3 01 038 042 00 000
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Building materials
Brick Full
Listing Agency:
Keller Williams Ballantyne Area · Keller Williams Realty
(704) 887-6600
Listed By:
Lorenza Boone · License #240305
(704) 594-1270
Added: Apr 3, 2025
Changed: Aug 19
Last Checked: Sep 16 at 7:06AM
MLS# 4242750
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.
Investment Insights
Based on property information with market context.
Located at 414 W. Main Avenue in Gastonia, this mixed-use property occupies a 0.18-acre parcel in the Central Business District. The building was constructed in 1958 with full-brick exterior materials, and the site includes driveway parking. Public water and public sewer serve the property.
The location is a short distance from Gastonia’s Ghost Pepper Baseball Stadium and within the city’s Social District. Retail, office, and mixed-use applications are identified for the property, providing a range of commercial configuration possibilities within a downtown setting. Its address places the asset among nearby dining, entertainment, and cultural destinations described in the listing.
The location is a short distance from Gastonia’s Ghost Pepper Baseball Stadium and within the city’s Social District. Retail, office, and mixed-use applications are identified for the property, providing a range of commercial configuration possibilities within a downtown setting. Its address places the asset among nearby dining, entertainment, and cultural destinations described in the listing.
Key Highlights
- 0.18‑acre parcel in Gastonia’s Central Business District
- 1,628 sq. ft. property at 414 W. Main Avenue
- Full‑brick construction completed in 1958
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,365
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$467,300
$467.3K
Cap Rate 7%
$333,786
$333.8K
Cap Rate 9%
$259,611
$259.6K
Market Conditions
NOI Build-Up for 1,628 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.6K $24.96/SF
− Vacancy
−$3.3K −$2.00/SF
EGI
$37.4K $22.96/SF
− OpEx
−$14.0K −$8.61/SF
NOI
$23.4K $14.35/SF
Area
Gaston County, NC
Vacancy
8.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$467,300
Cap Rate 7%
$333,786
Cap Rate 9%
$259,611
Alternative Uses
Best Use
Mixed Use
$333.8K
$292.1K – $389.4K
NOI $23,365 @ 7.0% cap · market cap 8.50%
Second Best
Retail
$285.5K
$249.8K – $333.1K
NOI $19,986 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$512.4K
$448.4K – $597.8K
NOI $35,868 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Hotels & Casinos 15%
Wells Fargo
Shops & Services
8,496 visits/mo
0.4 miles
Truist
Shops & Services
6,542 visits/mo
0.2 miles
The Esquire Hotel Downtown Gastonia, Ascend Hotel Collection
Hotels & Casinos
3,451 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
1,711 visits/mo
0.2 miles
Mr. Tire
Shops & Services
1,197 visits/mo
0.1 miles
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial property in Gastonia’s Central Business District with driveway parking and public utilities.
Where is this mixed-use property located?
The property is located at 414 W Main Avenue Gastonia, NC.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 0.18‑acre parcel in Gastonia’s Central Business District; 1,628 sq. ft. property at 414 W. Main Avenue; Full‑brick construction completed in 1958
