Auto Service Facility with 9
For Sale
$750,000
1035 Mooresville Road, Salisbury, NC 28147
Established repair facility with office, waiting area, lifts, and city water and sewer.
Property Size1,952 SF
Lot Size0.97 Acres
Price / SF$119.05
Days on Market11
Property Features for 1035 Mooresville Road
General Information
Standard status
Active
Size
1,952 SF
Lot size
0.97 Acres
Property subtype
Automotive
Zoning
NMX
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Service Bays
9
Amenities
waste-oil heater
restrooms
front office
customer waiting area
heat pump
Features: Corner Lot, Size: 0.97, Size Units: Acres
Details: Central Air
Heating: Heat Pump
Days on Market: 0, Listing Price: 750000, Status: Active
Construction Materials: Block, Hard Stucco, Year Built: 1952, Construction Type: Site Built
City: Salisbury, State: NC, Zip: 28147, County: Rowan
Sewer: Public Sewer, Water Source: City
Auction Y/N: 0
Building Details
Building Size
1,952 SF
Year Built
1952
Buildings
1
Construction
block and hard-stucco
Listing Agency:
Century 21 Towne and Country
(704) 637-7721
Listed By:
Cathy Griffin
(704) 213-2464
Source:
Blackstreaminternational
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 20 at 2:35PM
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 Towne and Country
Investment Insights
Based on property information with market context.
This auto service property includes approximately 6,300 square feet on a 0.97-acre corner site at 1035 Mooresville Road in Salisbury. The original 1952 building was expanded in 2023 with a 2,200-square-foot addition measuring 40' x 55'. The facility contains 9 service bays, an alignment rack, multiple two- and four-post lifts, and a waste-oil heater. Two restrooms, a front office with dual service counters, and a customer waiting area support daily operations. Block and hard-stucco construction and a heat pump complete the building improvements.
The property fronts Mooresville Road along the HWY 150 corridor and is served by city water and sewer. Zoned NMX (Neighborhood Mixed Use), the site is currently operating as an auto repair shop and includes the building, fixtures, and land in the sale. Its location provides access to nearby shopping, dining, and the Salisbury retail area.
The property fronts Mooresville Road along the HWY 150 corridor and is served by city water and sewer. Zoned NMX (Neighborhood Mixed Use), the site is currently operating as an auto repair shop and includes the building, fixtures, and land in the sale. Its location provides access to nearby shopping, dining, and the Salisbury retail area.
Key Highlights
- 0.97‑acre corner lot fronting Mooresville Road
- Approximately 6,300 square feet, including a 2,200‑square‑foot addition built in 2023
- 9 service bays with alignment rack and multiple two- and four‑post lifts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,379
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,580
$767.6K
Cap Rate 7%
$548,271
$548.3K
Cap Rate 9%
$426,433
$426.4K
Market Conditions
NOI Build-Up for 6,300 SF
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.
Gross rent
$59.7K $9.48/SF
− Vacancy
−$4.9K −$0.78/SF
EGI
$54.8K $8.70/SF
− OpEx
−$16.4K −$2.61/SF
NOI
$38.4K $6.09/SF
Area
Rowan County, NC
Vacancy
8.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,580
Cap Rate 7%
$548,271
Cap Rate 9%
$426,433
Alternative Uses
Best Use
Retail
$1.10M
$966.8K – $1.29M
NOI $77,343 @ 7.0% cap · market cap 10.31%
Second Best
Industrial
$548.3K
$479.7K – $639.7K
NOI $38,379 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.98M
$1.74M – $2.31M
NOI $138,802 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Service bays
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
234k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 37%
Dining 33%
Shops & Services 26%
Apparel 3%
Food Lion Grocery Store
Groceries
36,599 visits/mo
0.1 miles
Harris Teeter
Groceries
33,024 visits/mo
0.5 miles
McDonald's
Dining
31,356 visits/mo
0.1 miles
Aldi
Groceries
16,690 visits/mo
0.5 miles
Burger King
Dining
12,732 visits/mo
0.3 miles
Demographics for 28147, NC
26,618
Population
10,095
Households
2.6
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
77.6 sq mi
ZIP Area
343
Density / Sq Mi
$59,770
Median Household Income
$36,118
Median Earnings
$1,036
Median Rent
$241,600
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Established repair facility with office, waiting area, lifts, and city water and sewer.
Where is this auto shop located?
The property is located at 1035 Mooresville Road Salisbury, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 0.97‑acre corner lot fronting Mooresville Road; Approximately 6,300 square feet, including a 2,200‑square‑foot addition built in 2023; 9 service bays with alignment rack and multiple two- and four‑post lifts
