Historic District Office Building For
402 S Chester Street Gastonia, NC 28052
For Sale
$894,999
Restored historic building in Gastonia's Historic District with O-1 zoning.
Property Size4,666 SF
Price / SF$191.81
Days on Market399
Property Features for 402 S Chester Street
General Information
- Standard status
- Active
- Size
- 4,666 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1905
Listing Agency:
TOWNSEND REALTY GROUP
(704) 964-5124
Listed By:
JIM TOWNSEND · License #243042
Source:
Corcoran
Added: Jun 23, 2025
Changed: Jul 6
Last Checked: Jul 25 at 3:38PM
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 TOWNSEND REALTY GROUP
Investment Insights
Based on property information with market context.
Located in the highly sought-after Historic District, this property features road frontage on a corner lot and ample rear parking. The building has been completely restored and renovated from top to bottom, including two new HVAC systems, a Rinnai tankless water heater, and upgraded electrical panels. Hardwired smoke and CO2 detectors and a CPI security system are in place. The property offers nearly 5,000 sqft of space with soaring ceilings, meticulously restored to maintain its historic charm. The O-1 Zoning designation allows for a variety of uses. Permitted uses include offices for law, financial, medical, dental, health, and behavioral care, as well as arts and craft studios. Supplemental uses include family child care homes, assisted living centers, group homes, independent living centers, private dining clubs, churches or places of worship, single-family residences, and schools (public or private). Conditional uses include medical facilities, continuing care facilities, veterinarian animal hospitals, indoor fraternal or service organization meeting facilities, multi-family residences, and maternity homes.
Key Highlights
- Completely restored and renovated from top to bottom with new systems (HVAC, water heater, electrical).
- Prime location in highly sought‑after Historic District on a corner lot with road frontage and rear parking.
- Versatile O‑1 Zoning allows for a wide range of permitted uses (offices, studios, residential, care facilities, etc.).
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 | $121.5k | $26.04 |
| − Vacancy | −$12.4k | −$2.66 |
| EGI | $109.1k | $23.38 |
| − OpEx | −$27.3k | −$5.85 |
| NOI | $81.8k | $17.54 |
4,666 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,832 @ 7.0% cap · market cap 9.14%
Second Best
Healthcare Medical
$928.4K
$812.3K – $1.08M
NOI $64,987 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,801 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Off Market Nearby
- DTEL — 251 W Main Ave, Gastonia, NC 28052
- Mark & Chrissy — 202 W 10th Ave, Gastonia, NC 28052, United States
- AnswerLive — 219 W Main Ave #10, Gastonia, NC 28052
- Championship Networks — 335 E Second Ave, Gastonia, NC 28054
FAQs
What type of property is this?
Office space - Restored historic building in Gastonia's Historic District with O-1 zoning.
Where is this office space located?
The property is located at 402 S Chester Street Gastonia, NC.
What is the asking price?
The asking price for this property is $894,999.
What are key features of this property?
This property features: Completely restored and renovated from top to bottom with new systems (HVAC, water heater, electrical).; Prime location in highly sought‑after Historic District on a corner lot with road frontage and rear parking.; Versatile O‑1 Zoning allows for a wide range of permitted uses (offices, studios, residential, care facilities, etc.).
