Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    45 Depot St Marion, NC 28752

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $699,000

    Three-story brick building in Marion's renovated Depot area.

    Property Features for 45 Depot St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Crystal Honeycutt
    Source: Exitrealty

    Listing Agency: Mountain Lake Realty Listing Agent: Crystal Honeycutt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historical Downtown Marion Mixed-Use Building

    This three-story brick building, formerly known as the Fiesty Goldfish, is situated in the newly renovated Depot area of downtown Marion. The main level has undergone renovations, incorporating steel structural beams, updated electrical systems, a membrane and shingle roof, replacement windows, and refinished original wood flooring. A freight elevator and a wet sprinkler system serve all levels of the building. The upper two levels remain unfinished but feature original hardwood flooring, presenting various development opportunities.
    Location Intelligence

    Current Use by Public Records

    Marion Train Depot Hotel & Motel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    McDowell
    State
    North Carolina
    Longitude
    -82.010516
    Latitude
    35.681595

    Nearby Similar for Sale

    • $525,000
      0.48 Acres

      Corner Lot on Sugar Hill

      Corner lot with high traffic, close to Interstate 40.
      2462 Sugar Hill Rd, Marion, NC 28752
      View Details
    • $475,000

      Downtown Marion Commercial Property For Sale

      Corner property in downtown Marion with parking and high visibility.
      166 N Logan St, Marion, NC 28752
      View Details
    • $195,000

      Remodeled Commercial Building on Court

      Remodeled commercial building suitable for retail or office use.
      406 East Court St, Marion, NC 28752
      View Details
    • $6,290,000

      Baseball/Softball Training & Lodging Facility

      165.88 acre baseball/softball training facility with waterfront access.
      3645 Yancey Rd, Marion, NC 28752
      View Details
    • $700,000
      13,940 SF

      Prime Marion Auto Shop/Storefront

      13,940 SF, Historic Downtown Location
      244 Court St, Marion, NC 28752
      View Details
    • $395,000
      0.44 Acres

      Downtown Marion Retail Opportunity

      High-potential retail building, prime location.
      95 Henderson St, Marion, NC 28752
      View Details
    • $525,000
      0.48 Acres

      Prime Marion Office Building

      High-traffic corner lot, endless potential.
      2462 Sugar Hill Rd, Marion, NC 28752
      View Details
    • $650,000
      1.10 Acres

      Historic Marion Retail & Workshop

      Prime Downtown Location, High-Traffic Area
      244 Court St, Marion, NC 28752
      View Details
    • $799,000
      0.22 Acres

      Historic Downtown Marion Retail Building

      Prime Retail Space, 3-Story Brick Building
      45 Depot St, Marion, NC 28752
      View Details
    • $899,000
      6.00 Acres

      High-Growth Marion Commercial Land

      6-Acre Commercial Lot Near I-40
      151 Mill Rd, Marion, NC 28752
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Three-story brick building in Marion's renovated Depot area.
    Where is this mixed-use property located?
    The property is located at 45 Depot St Marion, NC.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: - Renovated main level with structural upgrades including steel beams, electrical, roof, and windows.; - Prime location in the newly renovated Depot area of downtown Marion.; - Historic 3-story brick building featuring original hardwood flooring.
    (828) 460-8006
    Request Owner's contact information
    45 Depot St Marion, NC 28752
    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.
    45 Depot St
    Marion, NC 28752
    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
    45 Depot St Marion, NC 28752
    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

    We can help!
    Listing Contact
    Crystal Honeycutt
    Real Estate License ID: 278839
    (828) 460-8006 (828) 559-0174
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!