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    Versatile Commercial Space, Forest City Title is generated by Realmo AI

    358 S Broadway Street, Forest City, NC 28043

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    Claim this Listing
    For Lease
    $2,500 /Mo

    COMMERCIAL - Forest City, NC

    Lot size:
    0.36 Acres
    Added:
    May 1, 2026
    Days on Market:
    15
    Last Refresh:
    May 15 at 11:06 am

    Property Features for 358 S Broadway Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    C
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Parking
    26
    Parking features
    Parking Lot, Carport, Driveway
    Window features
    Insulated Windows
    Appliances
    Bar Fridge
    Standard status
    Active
    APN
    429272
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Description
    BLDG S BROADWAY
    Expense value
    2500
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Natural Gas, Central
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1998
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block, Brick Full
    Roof type
    Metal

    We can help!

    Listing Contact
    Loyce Snider
    Loyce Snider

    Listing agent Loyce Snider License #162506

    Listing office RE/MAX Journey 121 Laurel Dr, Rutherfordton, NC

    Listing date May 1, 2026

    MLS# 4377223

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic corner lot with 8,800 daily traffic count, providing excellent exposure.
    • Versatile building suitable for retail, warehouse, shop, gym, or other uses.
    • 3‑phase power (480 volts) and 2" water line, accommodating various industrial needs.
    • Features include two 10 x 16' roll‑up doors and one 8 x 8' door for easy access.
    • Enjoy the covered bay area (30 x 45) for sheltered workspace or storage.
    • Includes a private office, two bathrooms, and a waiting/lobby area.

    Overview

    This unique commercial building in Forest City, North Carolina, offers great exposure on a corner lot with a daily traffic count of 8,800. Formerly an automatic car wash, the property can be adapted for various uses, including retail, warehouse, machine or cabinet shop, or gym. It features 3-phase power (480 volts), a 2" water line, two 10 x 16' roll-up doors, one 8 x 8 door, and two passenger doors. Additional amenities include an air compressor, natural gas, a private office, two bathrooms, a waiting or lobby area, and a covered bay area measuring 30 x 45. The building also has a safe. The property is located on a 0.36-acre lot. For additional parking, the adjoining lot can be leased. The landlord will remove all car wash fixtures with at least a 3-year lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8618532
    Latitude
    35.3262078

    Nearby Similar for Lease

    • $3,000/Mo
      5,040 SF

      Main Street Retail Space Available

      5040' retail space on Main Street in Forest City.
      140 W Main Street, Forest City, NC 28043
      View Details
    • Contact for pricing
      1,400 SF

      Forest City Commercial Building For Lease

      Versatile commercial building suitable for manufacturing, retail, or warehouse use.
      141 Michael Dr, Forest City, NC 28043
      View Details

    FAQs

    What type of property is this?
    Car wash - Adaptable building suitable for retail, warehouse, or automotive uses.
    Where is this car wash located?
    The property is located at 358 S Broadway Street Forest City, NC.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: High‑traffic corner lot with 8,800 daily traffic count, providing excellent exposure.; Versatile building suitable for retail, warehouse, shop, gym, or other uses.; 3‑phase power (480 volts) and 2" water line, accommodating various industrial needs.
    (828) 223-8946
    We can help!
    Listing Contact
    Loyce Snider
    Loyce Snider
    Real Estate License ID: 162506
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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