Building Details

Buildings 1

Construction brick and masonry

Listing Agency: REMAX Select t***@remax.net Show Phone

Listed By: Donald Peeler · License #122980 Show Phone

Source: Exprealty

Added: Oct 12 Changed: Oct 16 Last Checked: Oct 16 at 2:00PM

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Investment Insights

Based on property information with market context.

This 3,200-square-foot brick and masonry retail building has a metal roof and commercial tile flooring. A covered 23-by-24-foot portico at the front entrance provides a sheltered area for loading and unloading. Interior features include a unisex accessible restroom, a separate manager’s office, and a security system with TV monitor. The property also includes 33 commercial washing machines, 24 commercial dryers, two money changers, two soap vending machines, a double-bowl wash sink, folding tables, and reception furniture.

An asphalt parking area measures 125 by 140 feet and provides 28 spaces. The building is commercially zoned, and the source indicates it may accommodate other GB-zoned uses if the laundry equipment is removed.

Key Highlights

• 3,200‑square‑foot brick and masonry building with metal roof
• Covered 23' X 24' portico at the front entrance
• 125 Foot X 140 Foot asphalt parking lot with 28 parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,344

Cap Rate

6.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$766,880 $766.9K

Cap Rate 7%

$547,771 $547.8K

Cap Rate 9%

$426,044 $426.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$57.6K $18.00/SF

− Vacancy

−$2.8K −$0.88/SF

EGI

$54.8K $17.12/SF

− OpEx

−$16.4K −$5.14/SF

NOI

$38.3K $11.98/SF

Area

Cleveland County, NC

Vacancy

4.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$766,880

Cap Rate 7%

$547,771

Cap Rate 9%

$426,044

Alternative Uses

Best Use

Retail

$547.8K

$479.3K – $639.1K (±1% cap)

NOI $38,344 @ 7.0% cap · market cap 6.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$812.7K

$711.1K – $948.1K (±1% cap)

NOI $56,886 @ 7.0% cap · market cap 10.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Storage Facility Electrical Service HVAC Service Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,022

Businesses Nearby

Explore this area Business Placement

Demographics for 28150, NC

28,517

Population

13,482

Households

2.1

Avg Household Size

44

Median Age

24%

College-Educated

90%

High-School Grad

109.5 sq mi

ZIP Area

260

Density / Sq Mi

$53,027

Median Household Income

$36,843

Median Earnings

$793

Median Rent

$195,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The facility includes commercial laundry equipment, accessible restroom, and on-site paved parking.

Where is this retail space located?

The property is located at 15-1020 E Marion St Shelby, NC.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 3,200‑square‑foot brick and masonry building with metal roof; Covered 23' X 24' portico at the front entrance; 125 Foot X 140 Foot asphalt parking lot with 28 parking spaces