Renovated Multi-Unit Retail
3440 E Broad Street Statesville, NC 28625
For Sale
$675,000
Renovated retail property with three units, including two leased spaces and one vacant unit ready for occupancy or lease.
Property Size3,922 SF
Price / SF$172.11
Days on Market92
Property Features for 3440 E Broad Street
General Information
- Standard status
- Active
- Size
- 3,922 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1990
Listing Agency:
Magnolia Real Estate
(704) 464-2182
Listed By:
Tiffany Comeaux
Source:
Techrealtyllc
Added: Apr 23
Changed: Jul 23
Last Checked: Jul 23 at 3:35AM
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 Magnolia Real Estate
Investment Insights
Based on property information with market context.
This fully renovated retail property offers a total of 3,922 square feet across three separate units, providing flexibility for either multiple tenants or a combination of owner occupancy and leasing. Two of the units are currently leased, while the third unit is vacant and ready for immediate use or lease. The building features modern, high-end finishes designed to support a professional customer experience.
The property is positioned on a highly visible retail corridor with excellent road frontage, supporting consistent exposure for tenants and customers. Public remarks note the surrounding area includes new and ongoing development.
The overall layout supports independent unit use, with the current configuration allowing for stable occupancy in two spaces and an additional opportunity for a third user or tenant.
The property is positioned on a highly visible retail corridor with excellent road frontage, supporting consistent exposure for tenants and customers. Public remarks note the surrounding area includes new and ongoing development.
The overall layout supports independent unit use, with the current configuration allowing for stable occupancy in two spaces and an additional opportunity for a third user or tenant.
Key Highlights
- 3,922 SF commercial property built in 1990, configured into three separate units for flexible occupancy or leasing
- Fully renovated, move‑in ready interior with modern, high‑end finishes throughout
- Two units currently leased with strong, established tenants
Financial Insights For Retail
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 | $74.4k | $18.96 |
| − Vacancy | −$5.6k | −$1.42 |
| EGI | $68.8k | $17.54 |
| − OpEx | −$20.6k | −$5.26 |
| NOI | $48.1k | $12.28 |
3,922 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$687.8K
$601.9K – $802.5K
NOI $48,149 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,410 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Preston Contractors
General Contractor
Illusion Ink LLC
Tattoo & Piercing Shop
The Design Collective
Marketing & Advertising
FAQs
What type of property is this?
Retail space - Renovated retail property with three units, including two leased spaces and one vacant unit ready for occupancy or lease.
Where is this retail space located?
The property is located at 3440 E Broad Street Statesville, NC.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,922 SF commercial property built in 1990, configured into three separate units for flexible occupancy or leasing; Fully renovated, move‑in ready interior with modern, high‑end finishes throughout; Two units currently leased with strong, established tenants
