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    Versatile Retail/Residential Opportunity Title is generated by Realmo AI

    500 Julius Chambers Avenue N, Mount Gilead, NC 27306

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    Claim this Listing
    For Sale
    $159,900

    SINGLE_FAMILY - Mount Gilead, NC

    Type:Retail
    Property size:
    1,860 SF
    Lot size:
    0.92 Acres
    Price / SF:
    $85/SF
    Added:
    Jul 11, 2024
    Days on Market:
    681
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 500 Julius Chambers Avenue N

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    G-B
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking
    8
    Parking features
    Driveway
    Standard status
    Active
    APN
    7503-05-28-0551
    Size
    1,860 SF
    Lot size
    0.92 Acres

    Taxes and HOA fees

    Tax Description
    DIAMOND JIMS RELICS

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating)
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    1952
    Floors in Building
    1
    Flooring type
    Concrete, Carpet
    Building materials
    Brick Partial, Block, Wood
    Roof type
    Composition

    We can help!

    Listing Contact
    Tom Medlin
    Tom Medlin

    Listing agent Tom Medlin License #161037

    Listing office Century 21 Russ Hollins, Realtors 160 North 1st St., Albemarle, NC

    Listing date Jul 11, 2024

    MLS# 4159970 Listing URL

    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 location with 289' of road frontage on Hwy. 109 (Julius Chambers Avenue).
    • Versatile property suitable for various uses: retail, food service, medical, residential, and more.
    • Approximately 1860 HSF with easy, step‑free entry.
    • Located on a lot slightly less than an acre.
    • Ductless heating and cooling systems installed.
    • Building constructed with durable materials: Brick, Block, and Wood.

    Overview

    This property, currently maintained as a vintage and antiques retail sales location with existing inventory, offers unlimited possibilities. The building, with approximately 1860 square feet of space and easy, step-free entry and exit, is situated on slightly less than an acre. It features approximately 289 feet of road frontage on a high-traffic section of Highway 109 North and South, also known as Julius Chambers Avenue. The location and building, with some modifications, are suited to various uses, including retail, food truck operations, farm produce sales, medical or dental offices, hair salon, vape or smoke shop, pawn shop, breakfast restaurant, or single-family residential. It can also be used for townhouse or condominium development. The property can be purchased with or without the existing sales inventory, depending on the buyer's intended use. The zoning is G-B. Virtual tour added May 21, 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Gilead
    County
    Montgomery
    State
    North Carolina
    Longitude
    -79.9969371
    Latitude
    35.2262253

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    FAQs

    What type of property is this?
    Retail space - Retail or residential property with high traffic and unlimited potential.
    Where is this retail space located?
    The property is located at 500 Julius Chambers Avenue N Mount Gilead, NC.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: High‑traffic location with **289' of road frontage on Hwy. 109** (Julius Chambers Avenue).; Versatile property suitable for various uses: retail, food service, medical, residential, and more.; Approximately 1860 HSF with **easy, step‑free entry**.
    (704) 322-9895
    We can help!
    Listing Contact
    Tom Medlin
    Tom Medlin
    Real Estate License ID: 161037
    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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