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    1600 Melrose Dr Shelby, NC 28152

    For Sale
    $409,000

    4 Acres, High Visibility, Development Potential

    Property size:
    1,486 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 3.92-acre commercial property, located at 1600 Melrose Drive in Shelby, NC, presents a remarkable investment opportunity. Situated on a prominent corner lot at the intersection of Melrose Drive and DeKalb Street, this property boasts significant frontage: 733.69 feet on DeKalb Street and 50.97 feet on Melrose Drive. Its strategic location directly across Melrose Drive from Shelby Middle School ensures high visibility and accessibility. Currently zoned CPD (Corridor Protection District) within Shelby city limits, this versatile parcel offers a wide range of development possibilities. All utilities are readily available on-site. The recorded deed includes a 15-foot perpetual non-exclusive driveway easement across an existing gravel drive for access to the adjacent property at the rear. The current zoning allows for multi-family development (including townhomes and condominiums), single-family development, and numerous commercial uses. A detailed redline boundary aerial map is available for review. Furthermore, the property is easily subdividable into two parcels: a 2.53-acre lot and a 1.39-acre lot, with potential individual sale prices of $295,000 and $114,000 respectively. This prime location and flexible zoning make this property ideal for a variety of commercial or residential projects. Don't miss this chance to acquire a highly desirable corner lot in a thriving Shelby community.

    Property Features for 1600 Melrose Dr

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,486 SF
    Lot Size
    174,240 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.55273
    Latitude
    35.26384

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    FAQs

    What type of property is this?
    Commercial real estate - 4 Acres, High Visibility, Development Potential
    Where is this commercial real estate located?
    The property is located at 1600 Melrose Dr Shelby, NC.
    What is the asking price?
    The asking price for this property is $409,000.
    (704) 487-7653
    Request Owner's contact information
    1600 Melrose Dr Shelby, NC 28152
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    Shelby, NC 28152
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1600 Melrose Dr Shelby, NC 28152
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