Building Details

Year Built 1921

Listing Agency: RE/MAX Results Show Phone

Listed By: Michelle Harris Show Phone

Source: Cdanjoyner

Added: Nov 29, 2025 Changed: Oct 21 Last Checked: Oct 20 at 5:12PM

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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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,876

Cap Rate

5.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$617,520 $617.5K

Cap Rate 7%

$441,086 $441.1K

Cap Rate 9%

$343,067 $343.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,515 SF

Gross rent

$47.7K $18.96/SF

− Vacancy

−$3.6K −$1.42/SF

EGI

$44.1K $17.54/SF

− OpEx

−$13.2K −$5.26/SF

NOI

$30.9K $12.28/SF

Area

Gaston County, NC

Vacancy

7.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$617,520

Cap Rate 7%

$441,086

Cap Rate 9%

$343,067

Alternative Uses

Best Use

Retail

$441.1K

$386.0K – $514.6K (±1% cap)

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 (±1% cap)

NOI $55,410 @ 7.0% cap · market cap 9.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

City Of Lowell City Hall

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency Electrical Service Furniture & Home Goods Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

301

Businesses Nearby

14k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 93% Home Improvements & Furnishings 7%

Dollar General Shops & Services

7,706 visits/mo 0.2 miles

Citgo Shops & Services

5,262 visits/mo 0.2 miles

City Electric Supply Home Improvements & Furnishings

1,044 visits/mo 0.1 miles

Demographics for 28098, NC

3,868

Population

1,685

Households

2.3

Avg Household Size

39

Median Age

17%

College-Educated

84%

High-School Grad

3.6 sq mi

ZIP Area

1,074

Density / Sq Mi

$51,879

Median Household Income

$33,750

Median Earnings

$1,152

Median Rent

$153,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar Off Market Nearby

• Akers Florist Inc — 4520 wilkinson blvd, gastonia, nc 28056
• WinterPast Flowers — 116 N Main St, Lowell, NC 28098

Frequently Asked Questions

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.