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    617 E 2Nd Ave Gastonia, NC 28054

    View on Map
    Sponsored
    For Sale
    $899,000

    SINGLE_FAMILY - Gastonia, NC

    Type:Office
    Property size:
    6,200 SF
    Lot size:
    1.46 Acres
    Days on Market:
    7
    Last Refresh:
    Mar 7 at 7:06 am

    Property Features for 617 E 2Nd Ave

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C-3
    Rooms
    Basement
    APN
    109390/109391/109392
    Parking features
    Parking Lot
    Patio and Porch features
    Porch
    Basement
    Walk-Out Access
    Size
    6,200 SF
    Lot size
    1.46 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air

    Building Details

    Year built
    1965
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick Full

    We can help!

    Listing Contact
    Vickie Spurling
    Vickie Spurling

    Vickie Spurling Realty (704) 445-4888

    Listing agent Vickie Spurling (704) 477-7563

    Listing date Mar 1, 2026

    MLS# 4303008

    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

    Gastonia Mixed-Use Investment Opportunity

    This listing encompasses three parcels, identified as #109390, #109391, and #109392, and features multiple buildings situated along Second Street in Gastonia, North Carolina. A fourth building, accessible from Price Avenue or Second Street adjacent to 617 E 2nd Avenue, is located at the rear of the property. The seller aims to sell all three parcels in a single transaction. The property is zoned C-3. Some portions of the property are currently leased on a month-to-month basis. The available square footage includes both the Main Level and Basement areas. The main level of each building ranges from 5,000 to 6,200 square feet. Basement space, included in the total square footage, ranges from 2,300 to 6,000 square feet. The building at 620 Price Avenue is 1,800 square feet and does not have a basement. The total lot size is 1.46 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PME Painting General Contractor PME Painting LLC Painting

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.172123
    Latitude
    35.260343

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    FAQs

    What type of property is this?
    Office building - Three parcels with multiple buildings in Gastonia, North Carolina.
    Where is this office building located?
    The property is located at 617 E 2Nd Ave Gastonia, NC.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: - Three parcels included in a single transaction, offering significant land and development potential.; - Four buildings included, providing diverse usage options and income streams.; - Significant square footage available, with main levels ranging from 5,000 to 6,200 square feet per building.
    (704) 445-4888
    Request Owner's contact information
    617 E 2Nd Ave Gastonia, NC 28054
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    Gastonia, NC 28054
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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
    617 E 2Nd Ave Gastonia, NC 28054
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    We can help!
    Listing Contact
    Vickie Spurling
    Vickie Spurling
    Real Estate License ID: 164716
    (704) 445-4888 (704) 477-7563
    Learn more
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