Historic Bank Building in
101 E FIRST Street Lowell, NC 28098
101 E FIRST Street, Lowell, NC, 28098
$575,000
For Sale
$575,000
Charming 1921 bank building in revitalized downtown Lowell.
Property Size2,515 SF
Price / SF$228.63
Days on Market234
Property Features for 101 E FIRST Street
General Information
- Standard status
- Active
- Size
- 2,515 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1921
Listing Agency
CENTURY 21 TOWN & COUNTRY RLTY
(704) 735-1425
Listed by
TINA CLARK
Source
Corcoran
Added: Nov 29, 2025 Updated: Jul 10 at 3:46 pm Checked: Jul 20 at 4:02 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 TOWN & COUNTRY RLTY
Investment Insights
Based on property information with market context.
This historic building, constructed in 1921, is located on the corner of E First Street in downtown Lowell. The solid brick structure retains its original bank vault and offers a layout suitable for up to three separate business spaces, presenting opportunities for a café, office space, studio, salon, or multi-tenant investment. A connecting doorway provides flexibility to unify spaces or operate them independently. The property includes additional square footage (1755 sqft) upstairs, suitable for offices, creative studios, co-working space, or potential future residential use. The walkable location is near parks, city hall, local shops, and downtown development. Situated in a revitalized downtown area with convenient access to I-85 and proximity to Charlotte, this property offers potential for retail space with historic charm or a multi-use investment.
Key Highlights
- Historic building built in 1921 with original bank vault, offering unique character.
- Prime corner lot location in Historic Downtown Lowell with strong street visibility.
- Flexible layout allowing for up to three separate business spaces.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.7k | $18.96 |
| − Vacancy | −$3.6k | −$1.42 |
| EGI | $44.1k | $17.54 |
| − OpEx | −$13.2k | −$5.26 |
| NOI | $30.9k | $12.28 |
2,515 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$441.1K
$386.0K – $514.6K
NOI $30,876 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$791.6K
$692.6K – $923.5K
NOI $55,410 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
City Of Lowell
City Hall
Similar For Sale Nearby
Similar Off Market Nearby
- Akers Florist Inc — 4520 wilkinson blvd, gastonia, nc 28056
- WinterPast Flowers — 116 N Main St, Lowell, NC 28098
FAQs
What type of property is this?
Storefront property - Charming 1921 bank building in revitalized downtown Lowell.
Where is this storefront property located?
The property is located at 101 E FIRST Street Lowell, NC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Historic building built in 1921 with **original bank vault**, offering unique character.; **Prime corner lot location** in Historic Downtown Lowell with strong street visibility.; Flexible layout allowing for up to three separate business spaces.
