Three-Suite Mixed-Use
For Sale
$229,000
155/157 E Main Street, Forest City, NC 28043
Three business spaces offer flexibility for separate occupants or a single owner-user.
Property Size1,704 SF
Price / SF$134.39
Days on Market283
Property Features for 155/157 E Main Street
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
1,704 SF
Year Built
1940
Buildings
3
Tenancy
Multi
Listing Agency:
Odean Keever & Associates, Inc.
(828) 286-1311
Listed By:
Sonja Smith · License #133997
(828) 748-5359
Source:
Dylerealestate
Added: Jan 19
Changed: Oct 26
Last Checked: Oct 26 at 3:45AM
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 Odean Keever & Associates, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,704-square-foot mixed-use property in downtown Forest City dates to 1940 and is arranged as three distinct business spaces. The layout supports separate occupancy or use by one owner, with room to adapt the configuration to business needs.
A potential additional site at the rear may provide an opportunity for expansion or future development.
A potential additional site at the rear may provide an opportunity for expansion or future development.
Key Highlights
- 1,704‑square‑foot mixed‑use property
- Configured as three separate business spaces
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,850
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,000
$337.0K
Cap Rate 7%
$240,714
$240.7K
Cap Rate 9%
$187,222
$187.2K
Market Conditions
NOI Build-Up for 1,704 SF
Gross rent
$24.5K $14.40/SF
− Vacancy
−$466 −$0.27/SF
EGI
$24.1K $14.13/SF
− OpEx
−$7.2K −$4.24/SF
NOI
$16.8K $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 Rate 5%
$337,000
Cap Rate 7%
$240,714
Cap Rate 9%
$187,222
Alternative Uses
Best Use
Retail
$240.7K
$210.6K – $280.8K
NOI $16,850 @ 7.0% cap · market cap 7.36%
Second Best
Mixed Use
$172.0K
$150.5K – $200.6K
NOI $12,037 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$375.8K
$328.8K – $438.4K
NOI $26,304 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Home Improvements & Furnishings 10%
Truist
Shops & Services
12,013 visits/mo
0.1 miles
Kimbrell's Furniture
Home Improvements & Furnishings
1,451 visits/mo
0.2 miles
OneMain Financial
Shops & Services
1,086 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three business spaces offer flexibility for separate occupants or a single owner-user.
Where is this mixed-use property located?
The property is located at 155/157 E Main Street Forest City, NC.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,704‑square‑foot mixed‑use property; Configured as three separate business spaces; Built in 1940
