Auto Service Facility with 9
New
For Sale
$750,000
1035 Mooresville Road, Salisbury, NC 28147
Commercial Sale, Salisbury, NC
Property Size6,300 SF
Lot Size0.97 Acres
Price / SF$119.05
Days on Market3
Property Features for 1035 Mooresville Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NMX
Parking features
Parking Lot
Lot features
Corner Lot
Standard status
Active
APN
0611178
Lot size
0.97 Acres
Taxes and HOA fees
Tax Description
L1-7 .96AC
Legal Description
L1-7 .96AC
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
waste-oil heater
two restrooms
front office with dual service counters
customer waiting area
heat pump
Building Details
Year built
1952
Building materials
Block, Hard Stucco
Listing Agency:
Century 21 Towne and Country · Century 21 Real Estate
(704) 637-7721
Listed By:
Cathy Griffin · License #187850
(704) 213-2464
Added: Sep 11
Last Checked: Sep 13 at 5:06AM
MLS# 4423509
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.
Investment Insights
Based on property information with market context.
This auto service property includes the building, fixtures, and land on a 0.97-acre corner site. The facility totals roughly 6,300 square feet, including a 2,200-square-foot addition completed in 2023. Its operating layout features 9 service bays, an alignment rack, multiple two- and four-post lifts, a waste-oil heater, two restrooms, a front office with dual service counters, and a customer waiting area. Block and hard-stucco construction, a heat pump, central air, public sewer, and city water complete the improvements.
The property fronts Mooresville Road, also identified as HWY 150, at 1035 Mooresville Road in Salisbury, North Carolina. It is zoned NMX, or Neighborhood Mixed Use, and is located along a commercial corridor near shopping, dining, and the Salisbury retail hub. The site includes a parking lot and is currently operating as an auto repair shop.
The property fronts Mooresville Road, also identified as HWY 150, at 1035 Mooresville Road in Salisbury, North Carolina. It is zoned NMX, or Neighborhood Mixed Use, and is located along a commercial corridor near shopping, dining, and the Salisbury retail hub. The site includes a parking lot and is currently operating as an auto repair shop.
Key Highlights
- 0.97‑acre corner lot fronting Mooresville Road and HWY 150
- Roughly 6,300 total square feet, including a 2,200‑square‑foot addition completed in 2023
- 9 service bays with an 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 - NMX zoning supports continued automotive service or other compatible neighborhood-commercial uses.
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 and HWY 150; Roughly 6,300 total square feet, including a 2,200‑square‑foot addition completed in 2023; 9 service bays with an alignment rack and multiple two- and four‑post lifts
