Mixed-Use Live/Work
122 E Innes St Salisbury, NC 28144
122 E Innes St, Salisbury, NC, 28144
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For Sale
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Multi-level mixed-use building with an upper-level loft, open spaces, and a freight elevator.
Property Size10,000 SF
Price / SF$120
Days on Market169
Property Features for 122 E Innes St
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Mixed Use
Listing agency
The Nichols Company
(704) 373-9797
Listed by
John Nichols · License #NC 179082
Source
Crexi
Added: Feb 3 Updated: Jul 22 at 5:44PM Checked: Jul 22 at 5:44PM
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 The Nichols Company
Investment Insights
Based on property information with market context.
122 E. Innes St. is a distinctive mixed-use building with multiple levels, including an upper-level loft and expansive open spaces. The property includes a freight elevator and a layout already approved to be divided into up to three separate spaces, supporting a range of configurations for owner-users or investors.
The building also features a two-car garage and is offered with an HOA in place noted as having no HOA dues. Public remarks indicate the location is in downtown Salisbury and surrounded by restaurants, retail, offices, and cultural destinations, supporting varied commercial and residential-aligned use cases.
Designed for flexibility, the improvements and approved divisional layout offer options for commercial, residential, or live/work use, including creative office, retail, studio space, or residential conversion.
The building also features a two-car garage and is offered with an HOA in place noted as having no HOA dues. Public remarks indicate the location is in downtown Salisbury and surrounded by restaurants, retail, offices, and cultural destinations, supporting varied commercial and residential-aligned use cases.
Designed for flexibility, the improvements and approved divisional layout offer options for commercial, residential, or live/work use, including creative office, retail, studio space, or residential conversion.
Key Highlights
- Approx. 10,000 SF multi‑level mixed‑use building in downtown Salisbury with flexible commercial, residential, or live/work use
- Upper‑level loft plus expansive open spaces, with a freight elevator for multi‑level access
- Layout approved to be divided into up to three separate spaces, supporting multiple configurations
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.0k | $18.00 |
| − Vacancy | −$18.0k | −$1.80 |
| EGI | $162.0k | $16.20 |
| − OpEx | −$60.8k | −$6.07 |
| NOI | $101.3k | $10.13 |
10,000 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.51M
$2.19M – $2.92M
NOI $175,379 @ 7.0% cap · market cap 14.61%
Second Best
Retail
$1.75M
$1.53M – $2.05M
NOI $122,766 @ 7.0% cap · market cap 10.23%
Theoretical Best
Office A
$3.15M
$2.75M – $3.67M
NOI $220,320 @ 7.0% cap · market cap 18.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Salt+Steel
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Multi-level mixed-use building with an upper-level loft, open spaces, and a freight elevator.
Where is this live-work space located?
The property is located at 122 E Innes St Salisbury, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approx. 10,000 SF multi‑level mixed‑use building in downtown Salisbury with flexible commercial, residential, or live/work use; Upper‑level loft plus expansive open spaces, with a freight elevator for multi‑level access; Layout approved to be divided into up to three separate spaces, supporting multiple configurations
