Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    612 S Main Street Salisbury, NC 28144

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $759,000

    1.78 acre corner property in downtown Salisbury.

    Type:General Commercial
    Lot size:
    1.78 Acres
    Added:
    Jun 16, 2024
    Days on Market:
    660
    Last Refresh:
    Apr 1 at 9:22 pm

    Property Features for 612 S Main Street

    General Information

    Standard status
    Active
    Lot size
    1.78 Acres
    Property subtype
    General Commercial

    Building Details

    Year Built
    1961

    We can help!

    Listing Contact
    Mike Rusher

    Listing agent Mike Rusher

    Listing office 1st Cooperative Realty

    Listing date Jun 16, 2024

    Source Xome

    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 1st Cooperative Realty

    Overview

    Downtown Salisbury Corner Property

    The property, located at 612 and 630 S. Main St., encompasses 1.78 acres on a corner lot in downtown Salisbury. The main building is currently rented for $4200 per month and will have a new roof installed on the front in March 2025. Zoned DMX, the property allows for multi-family residential use and a variety of business applications. It is located within walking distance of the downtown district, which features restaurants, breweries, and shopping. This location is suitable for condos, apartments, or business ventures and is situated in an opportunity zone.
    Location Intelligence

    Current Use by Public Records

    LibertyX Bitcoin ATM Atm Vanity 612 Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4762164
    Latitude
    35.663032

    Nearby Similar for Sale

    • $375,000

      Commercial Lot on South Main

      0.67-acre commercial lot on South Main Street in Salisbury, NC.
      629 S Main Street, Salisbury, NC 28144
      View Details
    • $1,000,000

      Prime Commercial Land I-85 Frontage

      1.52-acre commercial parcel off I-85 near Salisbury, NC.
      1100 Peach Orchard Road, Salisbury, NC 28146
      View Details
    • $148,900

      Office Condo Near I-85

      924 SF office condo with private offices and upgrades.
      1620 S Martin Luther King Jr Avenue unit: 108, Salisbury, NC 28144
      View Details
    • $399,900

      Salisbury Heavy Industrial Building For Sale

      8,090 sq ft industrial building on 2.75 acres.
      1300 Van Nuys Street, Salisbury, NC 28145
      View Details
    • $2,200,000

      Commercial Land Near Interstate 85

      Commercial land near I-85 suitable for retail or apartments.
      0 Suzannes Road, Salisbury, NC 28147
      View Details
    • $1,799,000

      Prime Retail Development Opportunity

      1.96 acre retail development opportunity on Jake Alexander Blvd.
      625 W JAKE ALEXANDER Boulevard, Salisbury, NC 28145
      View Details
    • $278,777

      Functional Office Space with Furnishings

      Well-appointed office with five offices, conference room, and furnishings.
      400 Statesville Boulevard, Salisbury, NC 28144
      View Details
    • $199,777

      Commercial Land with Highway Frontage

      1.94 acres of commercial land with high traffic exposure.
      S Main Street, Salisbury, NC 28147
      View Details
    • $21,900

      Residential Lot Near High Rock Lake

      Double lot in lake community with amenities, near High Rock Lake.
      0 Playground Lane, Salisbury, NC 28146
      View Details
    • $650,000

      34 Acres Commercial Land Salisbury

      34+/- acres of commercial land with multiple uses.
      Statesville Boulevard, Salisbury, NC 28147
      View Details
    • $1,999,000

      Salisbury Commercial Development Opportunity

      10.71 acres zoned CMX with high visibility.
      1416 Jake Alexander Boulevard S, Salisbury, NC 28146
      View Details
    • $385,000

      Prime Corner Lot in Salisbury

      2.34 acre commercial land with development options.
      2120 Mooresville Road, Salisbury, NC 28147
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.78 acre corner property in downtown Salisbury.
    Where is this commercial land located?
    The property is located at 612 S Main Street Salisbury, NC.
    What is the asking price?
    The asking price for this property is $759,000.
    What are key features of this property?
    This property features: 1.78 acre corner property in downtown Salisbury with DMX zoning allowing multi‑family residential and business uses.; Currently rented for $4200 per month.; Located in an Opportunity Zone.
    (704) 433-4681
    We can help!
    Listing Contact
    Mike Rusher
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!