Mixed-Use Property with
For Sale
$525,000
1358 W Main St, Forest City, NC 28043
Street-facing showroom space, warehouse capacity, and an apartment are combined within one commercial property.
Property Size4,536 SF
Price / SF$115.74
Days on Market141
Property Features for 1358 W Main St
General Information
Standard status
Active
Size
4,536 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
15 ft
Warehouse Space
2,080 SF
Drive-In Doors
4
Building Details
Year Built
1946
Listing Agency:
Keller Williams Mtn Partners, LLC
Listed By:
Brent Crowell brentcrowell@kw.com
Source:
Judy.lakenormanhomeguide
Added: May 14
Changed: Sep 28
Last Checked: Sep 30 at 12:23PM
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 Keller Williams Mtn Partners, LLC
Investment Insights
Based on property information with market context.
This 4,536-square-foot mixed-use property, built in 1946, brings together a customer-facing showroom, warehouse space, and an apartment. The showroom comprises approximately 1,088 square feet, with display windows along West Main Street. Behind it, approximately 2,080 square feet of warehouse area includes four bay doors and 15-foot ceilings. A separate 1,368-square-foot apartment completes the building’s configuration.
At 1358 W Main St in Forest City, the property has frontage on West Main Street and access to downtown Forest City and US-74. The existing residential component offers another distinct use alongside the commercial areas.
At 1358 W Main St in Forest City, the property has frontage on West Main Street and access to downtown Forest City and US-74. The existing residential component offers another distinct use alongside the commercial areas.
Key Highlights
- 4,536 square feet total; built in 1946
- Approximately 1,088 square feet of showroom space with display windows
- Approximately 2,080 square feet of warehouse space
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
$44,854
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
8.54%
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%
$897,080
$897.1K
Cap Rate 7%
$640,771
$640.8K
Cap Rate 9%
$498,378
$498.4K
Market Conditions
NOI Build-Up for 4,536 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
$65.3K $14.40/SF
− Vacancy
−$1.2K −$0.27/SF
EGI
$64.1K $14.13/SF
− OpEx
−$19.2K −$4.24/SF
NOI
$44.9K $9.89/SF
Area
Rutherford County, NC
Vacancy
1.90%
Lease Rate
$14.40 /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%
$897,080
Cap Rate 7%
$640,771
Cap Rate 9%
$498,378
Alternative Uses
Best Use
Retail
$640.8K
$560.7K – $747.6K
NOI $44,854 @ 7.0% cap · market cap 8.54%
Second Best
Mixed Use
$457.7K
$400.5K – $534.0K
NOI $32,042 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$1.00M
$875.3K – $1.17M
NOI $70,021 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15 ft
Clear height
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 28043, NC
20,183
Population
9,356
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
84%
High-School Grad
66.3 sq mi
ZIP Area
304
Density / Sq Mi
$41,746
Median Household Income
$29,909
Median Earnings
$744
Median Rent
$176,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-facing showroom space, warehouse capacity, and an apartment are combined within one commercial property.
Where is this mixed-use property located?
The property is located at 1358 W Main St Forest City, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4,536 square feet total; built in 1946; Approximately 1,088 square feet of showroom space with display windows; Approximately 2,080 square feet of warehouse space
