Pool and Activity Area on
For Sale
Contact for pricing
1617 Shaver St, High Point, NC 27265
Renovated pool and event area on 2.5+/- acres.
Property Size1,286 SF
Lot Size2.50 Acres
Price / SF$154.74
Days on Market758
Property Features for 1617 Shaver St
General Information
Standard status
Active
Size
1,286 SF
Lot size
2.50 Acres
Property subtype
Retail
Zoning
R-5
Building Details
Year Built
1969
Year Renovated
2017
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Lindsay Real Estate Holdings
(336) 878-5171
Listed By:
Mark Lindsay · License #NC 252010
Source:
Crexi
Added: Jul 16, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:28AM
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 Lindsay Real Estate Holdings
Investment Insights
Based on property information with market context.
Formerly the Knoll Crest Swim Center, this renovated property from 2017 features a fully functioning pool and activity/event area situated on approximately 2.5 acres. Renovations in 2017 included resurfacing of the pool interior and concrete deck, replacement of pumps and motors in the pump room, complete landscaping, and construction of a baby pool motor room. The property presents an excellent business opportunity and can be used as an existing pool or developed into a housing subdivision, mobile home park, or retail/residential development. A tower is scheduled for construction in 2023 on a piece of land included in the sale of the property. The Verizon tower lease is an optional bonus to the purchase of the pool, offering potential lease income and/or separate resale value, and the lease contract can be canceled at the buyer's discretion. The property size is 1286 square feet.
Key Highlights
- Fully functioning pool and activity/event area on 2.5+/- acres.
- Potential Verizon tower lease with income or resale value (optional).
- Renovated in 2017 with resurfaced pool interior and deck, new pumps and motors, and landscaping.
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
$15,717
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
7.90%
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%
$314,340
$314.3K
Cap Rate 7%
$224,529
$224.5K
Cap Rate 9%
$174,633
$174.6K
Market Conditions
NOI Build-Up for 1,286 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
$23.1K $18.00/SF
− Vacancy
−$694 −$0.54/SF
EGI
$22.5K $17.46/SF
− OpEx
−$6.7K −$5.24/SF
NOI
$15.7K $12.22/SF
Area
High Point, NC
Vacancy
3.00%
Lease Rate
$18.00 /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%
$314,340
Cap Rate 7%
$224,529
Cap Rate 9%
$174,633
Alternative Uses
Best Use
Retail
$224.5K
$196.5K – $262.0K
NOI $15,717 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.4K
$290.0K – $386.7K
NOI $23,199 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 27265, NC
52,530
Population
22,526
Households
2.3
Avg Household Size
41
Median Age
40%
College-Educated
93%
High-School Grad
41.5 sq mi
ZIP Area
1,266
Density / Sq Mi
$70,929
Median Household Income
$43,006
Median Earnings
$1,123
Median Rent
$239,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Land - Renovated pool and event area on 2.5+/- acres.
Where is this land located?
The property is located at 1617 Shaver St High Point, NC.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Fully functioning pool and activity/event area on 2.5+/- acres.; Potential Verizon tower lease with income or resale value (optional).; Renovated in 2017 with resurfaced pool interior and deck, new pumps and motors, and landscaping.
