Commercial Land with
For Sale
$279,000
500 S Main Street, Sparta, NC 28675
A small office and garage, parking area, and wooded ground are situated on a commercially zoned parcel.
Property Size896 SF
Price / SF$311.38
Days on Market50
Property Features for 500 S Main Street
General Information
Standard status
Active
Size
896 SF
Property subtype
Commercial
Zoning
Business/Comm
Taxes and HOA fees
Annual Taxes
$1,952
Building Details
Building Size
896 SF
Year Built
2006
Stories
1
Listing Agency:
Foxfire Realty, Inc.
(336) 372-5773
Listed By:
SHIRLEY RICHARDSON
(336) 657-7294
Source:
Heavenlymountainproperties
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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 Foxfire Realty, Inc.
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Investment Insights
Based on property information with market context.
This commercial land parcel includes a small office/garage, a large parking area, and a wooded section. The zoning is Business/Comm, and the office/garage was built in 2006.
Access is available from South Main Street, Ball Park Road, and the Walgreens parking lot. The property has approximately 233 feet of road frontage on South Main Street. A bank, drug store, grocery store, and several restaurants are within walking distance.
Access is available from South Main Street, Ball Park Road, and the Walgreens parking lot. The property has approximately 233 feet of road frontage on South Main Street. A bank, drug store, grocery store, and several restaurants are within walking distance.
Key Highlights
- Approximately 233 feet of frontage on South Main Street
- Access from South Main Street, Ball Park Road, and the Walgreens parking lot
- Includes a small office/garage and a large parking area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,403
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,060
$208.1K
Cap Rate 7%
$148,614
$148.6K
Cap Rate 9%
$115,589
$115.6K
Market Conditions
NOI Build-Up for 896 SF
Gross rent
$16.1K $18.00/SF
− Vacancy
−$2.3K −$2.52/SF
EGI
$13.9K $15.48/SF
− OpEx
−$3.5K −$3.87/SF
NOI
$10.4K $11.61/SF
Area
Alleghany County, NC
Vacancy
14.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,060
Cap Rate 7%
$148,614
Cap Rate 9%
$115,589
Alternative Uses
Best Use
Office B
$148.6K
$130.0K – $173.4K
NOI $10,403 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$194.6K
$170.3K – $227.1K
NOI $13,625 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 28675, NC
6,138
Population
3,867
Households
1.6
Avg Household Size
50
Median Age
24%
College-Educated
84%
High-School Grad
107.4 sq mi
ZIP Area
57
Density / Sq Mi
$44,137
Median Household Income
$29,686
Median Earnings
$717
Median Rent
$202,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Commercial land - A small office and garage, parking area, and wooded ground are situated on a commercially zoned parcel.
Where is this commercial land located?
The property is located at 500 S Main Street Sparta, NC.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Approximately 233 feet of frontage on South Main Street; Access from South Main Street, Ball Park Road, and the Walgreens parking lot; Includes a small office/garage and a large parking area
