Retail Space with Laundry
New
For Sale
$550,000
1020 E Marion Street E #15, Shelby, NC 28150
Commercial laundry equipment, a manager’s office and a covered front portico are part of the existing configuration.
Property Size1,989 SF
Price / SF$179.15
Days on Market4
Property Features for 1020 E Marion Street E #15
General Information
Standard status
Active
Size
1,989 SF
Total Parking Spaces
28
Property subtype
Retail Center
Zoning
GB
Amenities
6' concrete sidewalk
23' x 24' covered portico
commercial tiled floors
unisex handicapped accessible bathroom
managers office with security system and TV monitor
33 commercial clothes washing machines
24 commercial clothes dryers
receptionist desk
2 money changer machines
2 soap vending machines
large double bowl wash sink with cabinet
custom extra-wide clothes folding table
2 additional clothes folding tables
2 round tables and chairs
Dimensions: 125' X 140', Cleared, Level, Open Lot, Paved, Other - See Remarks
Metal
Public Sewer
Additional parcels description:, Parcel Number: 21185, Assessed Value: $254,808, Zoning: G-B
Tile
Ceiling Fan(s), Central Air
Central
Listing ID: CAR4433814, Standard Status: Active, MLS Status: Active, Property Subtype: Retail Center, Special Conditions: None
28 open parking spaces, 28 total parking spaces, Other Parking: #28 Paved parking spaces Plus 2-Car Drive-Thru Covered portico for loading and unloading in inclement weather...
*Double entrances for easy entry / exit onto East Marion Street., Parking Space(s), Other - See Remarks
Insulated Window(s)
Built in 1989, Living area: 3070, 1 building, Construction Materials: Block, Brick Full
County/Parish: Cleveland
Elevation: 1000, City
1 total bathroom
Cable Connected, Electricity Connected, Natural Gas, Water Source: City
Slab
Frontage Type: City Street, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Security System, Smoke Detector(s)
Bath 60 Inch Turning Radius, Bath Grab Bars, Bath Roll-Under Sink, Bath Scald Control Faucet, Door Width 32 Inches or More, Swing In Door(s), Entry Slope less than 1 foot, Exterior Curb Cuts, Handicap Parking, Mobility Friendly Flooring, No Interior Steps, Vehicle Transfer Area, Zero-Grade Entry
Other equipment: Other - See Remarks
Building Details
Building Size
1,989 SF
Year Built
1989
Buildings
1
Construction
Brick and Masonry
Listing Agency:
RE/MAX Select
(704) 487-7653
Listed By:
Donald Peeler · License #122980
(704) 913-1033
Source:
Blackstreaminternational
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 1:57AM
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 RE/MAX Select
Investment Insights
Based on property information with market context.
Built in 1989, this commercial retail space has a brick and masonry exterior, metal roof and tiled floors. The interior includes a separate manager’s office, a security system with TV monitor and a unisex accessible bathroom. Laundry equipment includes 33 commercial washing machines and 24 commercial dryers, along with two money changers and two soap vending machines. A double-bowl wash sink, folding tables, reception desk, round tables and chairs are also included. The washers and dryers may be removed for other GB-zoned uses.
A covered portico at the front entrance measures 23 feet by 24 feet and provides a loading and unloading area. The property also has a 6-foot-wide concrete sidewalk across the front and an asphalt-paved parking area measuring 125 feet by 140 feet, with 28 spaces.
A covered portico at the front entrance measures 23 feet by 24 feet and provides a loading and unloading area. The property also has a 6-foot-wide concrete sidewalk across the front and an asphalt-paved parking area measuring 125 feet by 140 feet, with 28 spaces.
Key Highlights
- 33 commercial washing machines and 24 commercial dryers
- Asphalt‑paved parking area measures 125 feet by 140 feet, with 28 spaces
- 23‑foot by 24‑foot covered portico at the front entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,787
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,740
$735.7K
Cap Rate 7%
$525,529
$525.5K
Cap Rate 9%
$408,744
$408.7K
Market Conditions
NOI Build-Up for 3,070 SF
Gross rent
$55.3K $18.00/SF
− Vacancy
−$2.7K −$0.88/SF
EGI
$52.6K $17.12/SF
− OpEx
−$15.8K −$5.14/SF
NOI
$36.8K $11.98/SF
Area
Cleveland County, NC
Vacancy
4.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,740
Cap Rate 7%
$525,529
Cap Rate 9%
$408,744
Alternative Uses
Best Use
Retail
$525.5K
$459.8K – $613.1K
NOI $36,787 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$779.6K
$682.2K – $909.6K
NOI $54,575 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial laundry equipment, a manager’s office and a covered front portico are part of the existing configuration.
Where is this retail space located?
The property is located at 1020 E Marion Street E #15 Shelby, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 33 commercial washing machines and 24 commercial dryers; Asphalt‑paved parking area measures 125 feet by 140 feet, with 28 spaces; 23‑foot by 24‑foot covered portico at the front entrance
