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    6949 Old Shelby Road Vale, NC 28168

    View on Map
    For Sale
    $595,000

    COMMERCIAL - Vale, NC

    Property size:
    17,894 SF
    Lot size:
    2.35 Acres
    Added:
    Mar 11, 2025
    Days on Market:
    386
    Last Refresh:
    Mar 31 at 10:06 pm

    Property Features for 6949 Old Shelby Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    LI
    Rooms
    Basement
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    2667013842170000
    Size
    17,894 SF
    Lot size
    2.35 Acres

    Taxes and HOA fees

    TaxDescription
    LOT 2 PL 74-36

    Building Details

    Year built
    1961
    Flooring type
    Tile, Concrete, Laminate
    Building materials
    Brick Full

    We can help!

    Listing Contact
    Tony Cloninger
    Tony Cloninger

    Listing agent Tony Cloninger License #114565

    Listing office Keller Williams Advantage 7585 NC Hwy 73 Ste G, Denver, NC

    Listing date Mar 11, 2025

    MLS# 4227456 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.

    Overview

    Vale, NC Industrial Mill

    This 17,894 sq. ft. building, formerly the Cooksville Hosiery Mill, was rebuilt in 1985. It features double brick exterior walls, steel trusses, and concrete floors between levels for fire resistance. The two-level facility offers over 8,000 sq. ft. per floor. The main level includes 12' ceilings, two loading docks, and multiple restrooms, including a handicapped-accessible option. The office space comprises a private office with a half bath, a supply room, a reception area, and a supervisor's office. A conveyor belt connects to the lower level, which has an 8'6" ceiling, a drive-in garage door, and concrete floors. The lower level is not heated or cooled. The property spans 2.34 acres, with L1 zoning for the mill on 1.22 acres and R40 zoning behind it on 1.12 acres. Three-phase power is in place. The property is located in Vale, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U.S. Lawns - Hickory Landscaping

    Suggested Use

    Restaurant Grocery & Convenience Store Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Vale
    County
    Lincoln
    State
    North Carolina
    Longitude
    -81.476736
    Latitude
    35.588927

    Nearby Similar for Sale

    • $285,000

      Vale NC Commercial Property

      Commercial property for sale in Vale, North Carolina.
      7799 W Nc 10 Highway, Vale, NC 28168
      View Details
    • $1,050,000

      74 Acres Farmland with Income

      74 acres of farmland featuring income-producing chicken houses.
      Peeler Road, Vale, NC 28168
      View Details
    • $595,000
      17,894 SF

      Rebuilt Mill with Two Levels

      Two-level, 17,894 sq ft mill on 2.34 acres.
      6949 Old Shelby Road, Vale, NC 28168
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Two-level industrial building with loading docks and office space.
    Where is this manufacturing property located?
    The property is located at 6949 Old Shelby Road Vale, NC.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Large 17,894 sq. ft. building with two levels, offering over 8,000 sq. ft. per floor.; Durable construction featuring double brick exterior walls, steel trusses, and concrete floors for fire resistance.; Benefit from two loading docks, a drive‑in garage door, and a conveyor belt connecting both levels.
    (704) 458-1984
    We can help!
    Listing Contact
    Tony Cloninger
    Tony Cloninger
    Real Estate License ID: 114565
    Learn More
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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
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