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    Historic Bank Building in Lowell Title is generated by Realmo AI

    101 E FIRST Street, Lowell, NC 28098

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    Claim this Listing
    For Sale
    $575,000

    SINGLE_FAMILY - Lowell, NC

    Type:Retail
    Property size:
    1,755 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $327/SF
    Added:
    Nov 29, 2025
    Days on Market:
    173
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for 101 E FIRST Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Rooms
    Basement
    Window features
    Display Window(s)
    Basement
    Partial
    Standard status
    Active
    APN
    128384
    Size
    1,755 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Description
    05 011 081 00 000

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1921

    We can help!

    Listing Contact
    Tina Clark
    Tina Clark

    Listing agent Tina Clark

    Listing office Century 21 Town & Country Rlty 2414 East Main Street, Lincolnton, NC

    Listing date Nov 29, 2025

    MLS# 4325996

    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.

    HighLights

    • Historic 1921 former bank building with original bank vault, offering unique character and authenticity.
    • Prime corner lot location in the heart of Historic Downtown Lowell with strong street visibility.
    • Flexible layout allows for up to three separate business spaces or a unified operation, with a connecting doorway to 100 Main Street.
    • Upstairs space (1755 sqft) suitable for offices, studios, co‑working, or potential residential use.
    • Walkable location near parks, city hall, shops, and ongoing downtown development, benefiting from growing foot traffic.
    • Convenient access to I‑85 and proximity to Charlotte (less than 20 minutes), blending small‑town charm with big‑city access.

    Overview

    This historic building, constructed in 1921, is a former bank located on the corner of E First Street in Historic Downtown Lowell. The solid brick structure retains its original bank vault and offers a layout suitable for up to three separate business spaces. 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 residential use. The 0.06-acre corner lot provides strong street visibility. The walkable location is near parks, city hall, and local shops, amid ongoing downtown development. The property is positioned for a cafe, office space, studio, salon, or multi-tenant investment. Located in a revitalized downtown area with quick access to I-85 and less than 20 minutes to Charlotte, this property blends small-town character with big-city convenience.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $342.0K
    NOI $30,779 @ 9.00% cap · cautious / downside scenario
    Moderate
    $439.7K
    NOI $30,779 @ 7.00% cap · market / base-case scenario
    Aggressive
    $615.6K
    NOI $30,779 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $45.7k $26.04
    − Vacancy −$4.7k −$2.66
    EGI $41.0k $23.38
    − OpEx −$10.3k −$5.85
    NOI $30.8k $17.54
    1,755 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $439.7K
    $384.7K – $513.0K (±1% cap)
    NOI $30,779 @ 7.0% cap · market cap 5.35%
    Second Best
    Specialty Retail
    $369.2K
    $323.1K – $430.8K (±1% cap)
    NOI $25,845 @ 7.0% cap · market cap 4.49%
    Theoretical Best
    Office A
    $552.4K
    $483.3K – $644.4K (±1% cap)
    NOI $38,666 @ 7.0% cap · market cap 6.72%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    City Of Lowell City Hall

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.1009021
    Latitude
    35.266635

    Nearby Similar for Sale

    • $575,000
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      Historic Bank Building in Lowell

      Charming 1921 bank building in revitalized downtown Lowell.
      101 E FIRST Street, Lowell, NC 28098
      View Details
    • Contact for pricing
      107,586 SF

      Charlotte MSA Self Storage Portfolio

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    FAQs

    What type of property is this?
    Bank - Charming 1921 bank building in revitalized downtown Lowell, NC.
    Where is this bank 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 1921 former bank building with original bank vault, offering unique character and authenticity.; Prime corner lot location in the heart of Historic Downtown Lowell with strong street visibility.; Flexible layout allows for up to three separate business spaces or a unified operation, with a connecting doorway to 100 Main Street.
    (980) 429-5562
    We can help!
    Listing Contact
    Tina Clark
    Tina Clark
    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.

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