Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Forest City Commercial Building For Lease Title is generated by Realmo AI

    141 Michael Dr, Forest City, NC 28043

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

    Versatile commercial building suitable for manufacturing, retail, or warehouse use.

    Type:Industrial
    Property size:
    1,400 SF
    Added:
    Mar 3, 2026
    Days on Market:
    71
    Last Refresh:
    Mar 16 at 11:13 am

    Property Features for 141 Michael Dr

    General Information

    Standard status
    Active
    Size
    1,400 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 141 Michael Dr Contact us

    $8 /Mo

    Size
    7,500 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Loyce Snider
    Loyce Snider

    Listing agent Loyce Snider License #162506

    Listing office Remax Journey

    Listing date Mar 3, 2026

    Source Crexi

    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 Remax Journey

    HighLights

    • Versatile commercial building suitable for light manufacturing, retail, or warehouse/storage.
    • Clear‑span warehouse boasts 20‑foot eave heights and both high and low dock access.
    • Approximately 1,400 SF of office space.
    • Warehouse equipped with split‑unit HVAC systems.
    • Ample on‑site parking.
    • Located outside Forest City town limits.

    Overview

    This commercial building in Forest City is available for lease, suitable for light manufacturing, retail, or warehouse/storage purposes. The property includes a clear-span warehouse with 20-foot eave heights, featuring both high and low dock access. Approximately 1,400 square feet of office space is also available. The warehouse is equipped with split-unit HVAC systems, while the office area is served by a heat pump. ADA-compliant restrooms are present, and ample on-site parking is provided. The property is serviced by public water. Located outside Forest City town limits, the property offers flexibility for various commercial operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Pharmacy Bar & Pub Grocery & Convenience Store Food Market Daycare Center Cafe & Coffee Shop Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8845211
    Latitude
    35.309076

    Nearby Similar for Lease

    • $3,000/Mo

      Main Street Retail Space Available

      5040' retail space on Main Street in Forest City.
      140 W Main Street, Forest City, NC 28043
      View Details
    • $5,000/Mo

      Commercial Building in Forest City

      Versatile commercial building suitable for manufacturing, retail, or warehouse use.
      114 Michael Drive, Forest City, NC 28043
      View Details

    FAQs

    What type of property is this?
    Flex space - Versatile commercial building suitable for manufacturing, retail, or warehouse use.
    Where is this flex space located?
    The property is located at 141 Michael Dr Forest City, NC.
    What are key features of this property?
    This property features: Versatile commercial building suitable for light manufacturing, retail, or warehouse/storage.; Clear‑span warehouse boasts 20‑foot eave heights and both high and low dock access.; Approximately 1,400 SF of office space.
    (828) 223-8946 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Loyce Snider
    Loyce Snider
    Real Estate License ID: 162506
    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

    Thank You for Inquiry
    141 Michael Dr, Forest City, NC 28043
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!