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    Prime Commercial Land with Businesses Title is generated by Realmo AI

    509 & 513 S Main Street, King, NC 27021

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    Claim this Listing
    For Sale
    $2,000,000

    SINGLE_FAMILY - King, NC

    Type:Retail
    Property size:
    13,290 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $150/SF
    Added:
    Oct 20, 2025
    Days on Market:
    208
    Last Refresh:
    May 15 at 5:06 pm

    Property Features for 509 & 513 S Main Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    B2
    Parking
    11
    Fencing
    Fenced
    Standard status
    Active
    Size
    13,290 SF
    Lot size
    1.00 Acre

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Tammy Ann Chilton

    Listing agent Tammy Ann Chilton

    Listing office Ann Chilton Realty, Inc. King, NC

    Listing date Oct 20, 2025

    MLS# 1194287

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

    HighLights

    • Two active businesses included: King Lawn & Garden & A Beauty Shop.
    • High‑visibility location with 95.5 feet of road frontage on Main St and two retail signs.
    • Substantial infrastructure: 6 warehouses, 5200 SQFT retail showroom, and a total of 10 garage doors.
    • One acre property consisting of 2 parcels of land with tons of parking.
    • Long‑term tenant: 1065 SQFT Beauty Shop has been operating for 30+ years.
    • Opportunity to acquire Gravely mower dealership with owner assistance.

    Overview

    This one-acre commercial property features two active businesses: King Lawn & Garden and a beauty shop. The site benefits from 95.5 feet of road frontage on Main Street and includes ample parking. The property wraps around behind an ABC store. There are a total of 10 garage doors and 6 warehouses, along with a 5200 square foot retail showroom. One warehouse includes 10-foot garage doors and a carport on one side. An additional building has four standard-size garage doors and two 10-foot doors, previously used as a mechanic shop for mowers, plus a smaller storage building with a carport. The main building features a large showroom with tall ceilings and a garage door on the side. The showroom includes at least two offices, two restrooms, and an upstairs area that was formerly a retail store. The 1065 square foot beauty shop has been in operation for over 30 years and includes a restroom, office, and large open area. The property has two retail signs on Main Street. The site includes a total of 13290 square feet of space. There is potential for a new owner to continue with the Gravely brand of mowers, with the current owner willing to assist in the ownership transition of the dealership. The property is zoned B2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    King Lawn & Garden ... (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    King
    County
    Stokes
    State
    North Carolina
    Longitude
    -80.361147
    Latitude
    36.271054

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    FAQs

    What type of property is this?
    Retail space - One-acre commercial property with established businesses and ample parking.
    Where is this retail space located?
    The property is located at 509 & 513 S Main Street King, NC.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Two active businesses included: King Lawn & Garden & A Beauty Shop.; **High‑visibility location** with 95.5 feet of road frontage on Main St and two retail signs.; Substantial infrastructure: 6 warehouses, 5200 SQFT retail showroom, and a total of 10 garage doors.
    (336) 978-7760
    We can help!
    Listing Contact
    Tammy Ann Chilton
    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.

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