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    Commercial Land Near Interstate 85 Title is generated by Realmo AI

    1020 Suzannes Road, Salisbury, NC 28147

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    Claim this Listing
    For Sale
    $2,200,000

    Commercial land suitable for retail, apartments, and commercial uses.

    Type:Land / Unimproved Commercial
    Added:
    Jan 22, 2024
    Days on Market:
    862
    Last Refresh:
    Mar 13 at 5:57 pm

    Property Features for 1020 Suzannes Road

    General Information

    Standard status
    Active
    Property subtype
    Land / Unimproved Commercial

    We can help!

    Listing Contact
    Todd Dowdle

    Listing agent Todd Dowdle License #185200

    Listing office Yadkin Real Estate LLC

    Listing date Jan 22, 2024

    Source Compass

    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 Yadkin Real Estate LLC

    HighLights

    • Prime commercial land location, just 1/4 mile from Interstate 85 ramp.
    • Highway Business zoning allows for diverse uses.
    • High traffic and visibility area near Wallace Commons and Rowan Summit Shopping Centers.
    • Water and sewer available along Julian Rd.
    • Significant road frontage: 280' on Julian Rd. and 575' along proposed paved Suzannes Rd.
    • Proximity to major retailers and restaurants.

    Overview

    This commercial land is located approximately 1/4 mile from the Interstate 85 ramp and is zoned Highway Business, allowing for commercial, retail, apartments, business, or office use. The property features 280 feet of frontage on Julian Road and 575 feet along Suzannes Road, which is proposed to be paved. Water and sewer services are available along Julian Road. The location is conveniently situated approximately 1/4 mile from Wallace Commons Shopping Center and Rowan Summit Shopping Center, near the Interstate 85/Julian Road intersection. Nearby establishments include Kohls, Belks, Michaels, Olive Garden, Starbucks, Dicks Sporting Goods, Longhorn Steak House, and Texas Road House, along with other retail and restaurant options. This area benefits from high traffic and visibility. The parcels are suitable for retail, multiple apartments, and commercial uses and can be sold together or separately. The lot dimensions are 280 feet (Julian Road) by 575 feet (Suzannes Road). Note that the existing structures on the property are uninhabitable.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy 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
    -80.494828
    Latitude
    35.640691

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    FAQs

    What type of property is this?
    Commercial land - Commercial land suitable for retail, apartments, and commercial uses.
    Where is this commercial land located?
    The property is located at 1020 Suzannes Road Salisbury, NC.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Prime commercial land location, just 1/4 mile from Interstate 85 ramp.; Highway Business zoning allows for diverse uses.; High traffic and visibility area near Wallace Commons and Rowan Summit Shopping Centers.
    (336) 465-2323
    We can help!
    Listing Contact
    Todd Dowdle
    Real Estate License ID: 185200
    Learn More
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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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    1020 Suzannes Road, Salisbury, NC 28147
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