Three-Space Mixed-Use
For Sale
$229,000
155/157 Main Street, Forest City, NC 28043
Downtown commercial building with three business areas and an additional rear site for possible expansion.
Property Size1,704 SF
Price / SF$134.39
Days on Market198
Property Features for 155/157 Main Street
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Office Units
3
Amenities
3
Parking.
On Street.
City
Paved Road.
Building Details
Year Built
1940
Buildings
1
Building Size
1,704 SF
Tenancy
Multi
Listing Agency:
Odean Keever & Associates, Inc.
(828) 748-5359
Listed By:
Sonja Smith · License #133997
(828) 748-5359
Source:
Xome
Added: Jan 16
Changed: Aug 2
Last Checked: Aug 2 at 4:29AM
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.
Investment Insights
Based on property information with market context.
Built in 1940, this 1,704-square-foot mixed-use commercial building is arranged for three separate business spaces. The configuration can support multiple occupants, an owner-user arrangement, or a future interior reconfiguration. A rear portion of the property offers an additional site for possible expansion or development.
The property is positioned in downtown Forest City within the West Main Historic District. On-street parking, city services, and a paved-road setting support everyday commercial access. Its location along Main Street places the building within the community’s central business district and provides exposure to daily traffic.
The property is positioned in downtown Forest City within the West Main Historic District. On-street parking, city services, and a paved-road setting support everyday commercial access. Its location along Main Street places the building within the community’s central business district and provides exposure to daily traffic.
Key Highlights
- 1,704‑square‑foot mixed‑use commercial building
- Three separate business spaces within the existing configuration
- Additional rear site identified for possible expansion or development
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.7k | $18.00 |
| − Vacancy | −$6.9k | −$4.07 |
| EGI | $23.7k | $13.93 |
| − OpEx | −$5.9k | −$3.48 |
| NOI | $17.8k | $10.45 |
1,704 SF · lease $18.00/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$254.4K
$222.6K – $296.8K
NOI $17,805 @ 7.0% cap · market cap 7.78%
Second Best
Retail
$240.7K
$210.6K – $280.8K
NOI $16,850 @ 7.0% cap · market cap 7.36%
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.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial building with three business areas and an additional rear site for possible expansion.
Where is this mixed-use property located?
The property is located at 155/157 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 commercial building; Three separate business spaces within the existing configuration; Additional rear site identified for possible expansion or development
