Retail Space in Shelby,
For Sale
Contact for pricing
1198 Wyke Rd, Shelby, NC
Retail property available for lease in Shelby, North Carolina.
Property Size2,970 SF
Lot Size1.34 Acres
Price / SF$303.03
Days on Market383
Property Features for 1198 Wyke Rd
General Information
Standard status
Active
Size
2,970 SF
Lot size
1.34 Acres
Property subtype
RETAIL
Properties For Sale
at 1198 Wyke Rd Contact us- Floor
- 1
- Size
- 5,760 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
1198 Wyke Rd
- Floor
- 2
- Size
- 2,970 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
1198 Wyke Rd
- Floor
- Basement
- Size
- 1,440 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
1198 Wyke Rd
Listing Agency:
Foothills Commercial Real Estate
(980) 404-1111
Listed By:
Spencer Borders · License #FOOTHILLSCOMMERCIALREALESTATEC24755
(980) 404-1111
Source:
Moodyscre
Added: Aug 4, 2025
Changed: Aug 9
Last Checked: Aug 20 at 7:16AM
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 Foothills Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail property, offering 2,970 square feet of space, is available for lease. The property is located in Shelby, North Carolina.
Key Highlights
- Retail property available for lease.
- Located in Shelby, North Carolina.
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
$35,588
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
3.95%
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%
$711,760
$711.8K
Cap Rate 7%
$508,400
$508.4K
Cap Rate 9%
$395,422
$395.4K
Market Conditions
NOI Build-Up for 2,970 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
$53.5K $18.00/SF
− Vacancy
−$2.6K −$0.88/SF
EGI
$50.8K $17.12/SF
− OpEx
−$15.3K −$5.14/SF
NOI
$35.6K $11.98/SF
Area
Cleveland County, NC
Vacancy
4.90%
Lease Rate
$18.00 /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%
$711,760
Cap Rate 7%
$508,400
Cap Rate 9%
$395,422
Alternative Uses
Best Use
Retail
$508.4K
$444.9K – $593.1K
NOI $35,588 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.2K
$660.0K – $880.0K
NOI $52,797 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property available for lease in Shelby, North Carolina.
Where is this retail property located?
The property is located at 1198 Wyke Rd Shelby, NC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Retail property available for lease.; Located in Shelby, North Carolina.
