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

    406 Floyd Street Shelby, NC 28150

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

    Centrally located +/- .19 acre lot with city utilities.

    Type:Land / Lot
    Lot size:
    0.19 Acres
    Added:
    Mar 15, 2025
    Days on Market:
    401
    Last Refresh:
    Mar 13 at 10:18 am

    Property Features for 406 Floyd Street

    General Information

    Standard status
    Active
    Lot size
    0.19 Acres
    Property subtype
    Land / Lot

    We can help!

    Listing Contact
    Scottie Bradley

    Listing agent Scottie Bradley License #287593

    Listing office RE/MAX Select

    Listing date Mar 15, 2025

    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 RE/MAX Select

    Overview

    Shelby Commercial Lot For Sale

    This +/- .19 acre lot is centrally located in Shelby and includes city utilities. The property is approximately 1 mile from Atrium Shelby, offering convenient access to Uptown Shelby's restaurants, shopping, and parks.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.53097
    Latitude
    35.307323

    Nearby Similar for Sale

    • $975,000

      Office/Warehouse on Hwy 18N

      Office and warehouse space with loading dock and covered area.
      1740 Fallston Road, Shelby, NC 28150
      View Details
    • $299,000

      Shelby Warehouse with Office Space

      6,794 SF warehouse with offices, ideal for various businesses.
      601 Schenck Street, Shelby, NC 28150
      View Details
    • $215,000

      Downtown Shelby Commercial Property For Sale

      Commercial property with excellent visibility and dedicated parking in Shelby.
      820 W Warren Street, Shelby, NC 28150
      View Details
    • $350,000

      Shelby, NC Investment Opportunity

      3.27-acre property with income potential in Shelby, NC.
      2125 Riverside Road, Shelby, NC 28152
      View Details
    • $70,000

      Level 5-Acre Vacant Land

      5-acre vacant lot in Shelby, NC, with electricity access.
      Skinner Road, Shelby, NC 28152
      View Details
    • $180,000

      4.68 Acres in Shelby, NC

      Land with carports, suitable for residential or commercial use.
      3538 Fallston Road, Shelby, NC 28150
      View Details
    • $665,000

      26 Acres Near Moss Lake

      Land with development potential near Moss Lake and Harrah's Casino.
      Clifton Oates Road, Shelby, NC 28150
      View Details
    • $405,000

      20.8 Acres in Shelby, NC

      20.8 acres of land, ideal for building or farming.
      1444 Derby Drive, Shelby, NC 28150
      View Details
    • $749,000
      25,150 SF

      Versatile Commercial Facility with Income Potential

      25,150 SF commercial facility suitable for various business uses.
      1205 Costner Road, Shelby, NC 28150
      View Details
    • $45,000

      Residential Land in Boiling Springs

      0.88 acre corner lot, ready for your dream home.
      225 Silver Creek Lane, Shelby, NC 28152
      View Details
    • $1,200,000

      Shelby Office Building on Corner

      Spacious office building with ample parking and multiple access points.
      824 S Dekalb Street, Shelby, NC 28150
      View Details
    • $42,500

      Residential Lot in Shelby, NC

      Residential lot in a growing area, perfect for building.
      314 Firefly Path, Shelby, NC 28150
      View Details

    FAQs

    What type of property is this?
    Commercial land - Centrally located +/- .19 acre lot with city utilities.
    Where is this commercial land located?
    The property is located at 406 Floyd Street Shelby, NC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Centrally located in Shelby; +/- .19 acre lot; City utilities available
    (704) 477-9330
    We can help!
    Listing Contact
    Scottie Bradley
    Real Estate License ID: 287593
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!