Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Office Building with Expansion Potential Title is generated by Realmo AI

    1650 Lutheran Synod Dr, Salisbury, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3,221 SF office building with high visibility and expansion options.

    Type:OFFICE
    Property size:
    3,221 SF
    Lot size:
    1.37 Acres
    Price / SF:
    $162/SF
    Added:
    Jan 9, 2025
    Days on Market:
    485
    Last Refresh:
    Apr 5 at 8:48 pm

    Property Features for 1650 Lutheran Synod Dr

    General Information

    Standard status
    Active
    Size
    3,221 SF
    Lot size
    1.37 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Charles Freeman III

    Listing agent Charles Freeman III

    Listing office Freeman Commercial Real Estate

    Listing date Jan 9, 2025

    Source Moodyscre

    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 Freeman Commercial Real Estate

    HighLights

    • 3,221 SF office building with excellent visibility from I‑85
    • Well‑located in quickly growing Salisbury
    • Additional land available for expansion
    • Additional land available for a laydown yard
    • Additional land available for outside storage
    • Office building

    Overview

    This is a 3,221 square foot office building offering excellent visibility from I-85. The property is located in the rapidly growing city of Salisbury, North Carolina. Additional land is available, presenting opportunities for expansion, a laydown yard, or outside storage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alpine Alternative Medicine Practice Alpine Health Club Nightclub

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.478
    Latitude
    35.6459

    Nearby Similar for Sale

    • $399,900

      Salisbury Heavy Industrial Building For Sale

      8,090 sq ft industrial building on 2.75 acres.
      1300 Van Nuys Street, Salisbury, NC 28145
      View Details
    • $900,000

      Salisbury Industrial Warehouse with Large Lot

      9,000 SF industrial warehouse with oversized doors and large lot.
      6515 Mooresville Road, Salisbury, NC 28147
      View Details
    • $277,777

      Functional Office Space with Furnishings

      Well-appointed office with five offices, conference room, and furnishings.
      400 Statesville Boulevard, Salisbury, NC 28144
      View Details
    • $144,999

      Office Condo Near I-85

      924 SF office condo with private offices and upgrades.
      1620 S Martin Luther King Jr Avenue, Salisbury, NC 28144
      View Details
    • $299,900

      Commercial Property with Garages

      Property with multiple garages and outdoor area suitable for business.
      6025 US 601 Highway, Salisbury, NC 28147
      View Details
    • $229,900

      Downtown Salisbury Live/Work/Studio Condo

      Upscale live/work condo in historic downtown Salisbury.
      119 S Lee Street, Salisbury, NC 28144
      View Details
    • $1,850,000

      Tenant-Operated C-Store with Updated Pumps

      Highly visible C-Store with updated pumps in Salisbury, NC.
      1014 W Innes St Salisbury, NC 28144
      View Details
    • $775,000
      800 SF

      Storage Facility with Commercial Space

      Renovated storage facility with commercial space on Highway 150.
      1812 Mooresville Road, Salisbury, NC 28147
      View Details
    • $148,900
      924 SF

      Office Condo Near I-85

      924 SF office condo with private offices and upgrades.
      1620 S Martin Luther King Jr Avenue #108, Salisbury, NC 28144
      View Details
    • Contact for pricing
      8,961 SF

      Downtown Salisbury Retail/Warehouse Opportunity

      Retail and warehouse space in Downtown Salisbury for sale.
      211 E Innes St, Salisbury, NC
      View Details
    • $899,000

      Salisbury Mobile Home Park Investment

      Turnkey mobile home park with 17 rented lots in Salisbury.
      109 Suncreek Lane, Salisbury, NC 28146
      View Details
    • $3,734,620
      10,871 SF

      Medical Hub Investment Opportunity

      Prime medical office space in thriving Salisbury location for sale.
      320 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details

    FAQs

    What type of property is this?
    Office building - 3,221 SF office building with high visibility and expansion options.
    Where is this office building located?
    The property is located at 1650 Lutheran Synod Dr Salisbury, NC.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: 3,221 SF office building with excellent visibility from I‑85; Well‑located in quickly growing Salisbury; Additional land available for expansion
    (910) 599-6267 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Charles Freeman III
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1650 Lutheran Synod Dr, Salisbury, NC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!