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    Versatile Commercial Property on Main Title is generated by Realmo AI

    1080 Main Street NW, Lenoir, NC 28645

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    Claim this Listing
    For Sale
    $450,000

    Centrally located commercial property with expansion or redevelopment potential.

    Type:Commercial
    Lot size:
    3.96 Acres
    Added:
    Dec 4, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 9:15 pm

    Property Features for 1080 Main Street NW

    General Information

    Standard status
    Active
    Lot size
    3.96 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    WILLIAM ACETO

    Listing agent WILLIAM ACETO

    Listing office BLUE RIDGE REALTY & INV. BOONE

    Listing date Dec 4, 2025

    Source Corcoran

    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 BLUE RIDGE REALTY & INV. BOONE

    HighLights

    • Prime corner lot location on a busy thoroughfare with high traffic volume and great exposure.
    • Income‑generating property with potential for expansion or redevelopment on almost 2 acres.
    • Includes an additional 1.96 +/- acres of vacant land across the road.
    • Located in a NC Opportunity Zone offering potential tax credits.
    • Detached concrete loading facility pad for trailer loading/unloading.
    • Connection to city utilities with separate meters and natural gas available.

    Overview

    This versatile commercial real estate property is centrally located on a busy main thoroughfare just around the corner from downtown. The property is situated 30 minutes from Hickory, 20 minutes from Morganton and 40 minutes from Boone. Current and past uses include retail office space, church, insurance agency, electrical contractor, general contractor, pet grooming / training and storage. The property is situated on a prime corner lot totaling almost 2 acres with two entrances. This income-generating property benefits from high traffic volume and great exposure. With its level terrain, additional acreage, connection to city utilities with separate meters, and natural gas available, this location presents an excellent opportunity for expansion or redevelopment. The property includes two lots across the road totaling an additional 1.96 acres of vacant land. The property has a detached concrete loading facility pad for trailer loading/unloading. Each space offers independent perimeter fencing. Parcels on the town side of the road with 1080 Main St are included in a NC opportunity zone for certain tax credits, zone 37027030100. The property across from 1080 Main St is in a flood plain, but the buildings are not.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sanctuary of Truth Church

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.5454
    Latitude
    35.9243

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    FAQs

    What type of property is this?
    Retail space - Centrally located commercial property with expansion or redevelopment potential.
    Where is this retail space located?
    The property is located at 1080 Main Street NW Lenoir, NC.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Prime corner lot location on a busy thoroughfare with high traffic volume and great exposure.; Income‑generating property with potential for expansion or redevelopment on almost 2 acres.; Includes an additional 1.96 +/- acres of vacant land across the road.
    (828) 263-8711
    We can help!
    Listing Contact
    WILLIAM ACETO
    Request Owner's contact information
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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.

    More about this property
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