Building Details

Building Size 19,651 SF

Year Built 1965

Buildings 1

Listing Agency: Century 21 Providence Realty Show Phone

Listed By: Pat Flanagan Show Phone

Source: Blackstreaminternational

Added: Aug 26 Changed: Oct 15 Last Checked: Oct 14 at 11:50PM

Report an Issue

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 Century 21 Providence Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This freestanding commercial building contains approximately 6,552 SF with an open interior that can be adapted for a range of commercial formats. The property is suited to concepts such as restaurant, retail, entertainment, event venue, church, fitness, office, medical, and specialty use, subject to applicable approvals. Its flexible floor plan allows an operator to organize the space around its specific needs.

The building is located at 615 Main Street N in Troutman, placing the property along N Main Street with access and exposure to local residents and commuters. Troutman is identified as a growing community in Iredell County within the Lake Norman region. Built in 1965, the property provides a freestanding setting for an owner-user or commercial operator seeking a customizable storefront location.

Key Highlights

• 6,552± SF freestanding commercial building
• Open floor plan supports multiple commercial configurations
• Potential uses include restaurant, retail, event, office, medical, fitness, and specialty concepts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,436

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,608,720 $1.6M

Cap Rate 7%

$1,149,086 $1.1M

Cap Rate 9%

$893,733 $893.7K

What to ask about pricing

Market Conditions

NOI Build-Up for 6,552 SF

Gross rent

$124.2K $18.96/SF

− Vacancy

−$9.3K −$1.42/SF

EGI

$114.9K $17.54/SF

− OpEx

−$34.5K −$5.26/SF

NOI

$80.4K $12.28/SF

Area

Iredell County, NC

Vacancy

7.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,608,720

Cap Rate 7%

$1,149,086

Cap Rate 9%

$893,733

Alternative Uses

Best Use

Retail

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,436 @ 7.0% cap · market cap 1,340.60%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.06M

$1.80M – $2.41M (±1% cap)

NOI $144,354 @ 7.0% cap · market cap 2,405.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office HVAC Service Hair Salon Building Supply Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

137

Businesses Nearby

51k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 62% Shops & Services 29% Apparel 10%

Food Lion Grocery Store Groceries

31,565 visits/mo 0.4 miles

Dollar Tree Shops & Services

11,702 visits/mo 0.1 miles

Goodwill Apparel

4,958 visits/mo 0.4 miles

Quality Mart Shops & Services

2,986 visits/mo 0.2 miles

Demographics for 28677, NC

35,926

Population

16,096

Households

2.2

Avg Household Size

41

Median Age

22%

College-Educated

85%

High-School Grad

83.0 sq mi

ZIP Area

433

Density / Sq Mi

$59,081

Median Household Income

$34,684

Median Earnings

$861

Median Rent

$207,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - Open commercial space supports restaurant, retail, office, event, and other specialty concepts.

Where is this storefront property located?

The property is located at 615 Main Street N Troutman, NC.

What are key features of this property?

This property features: 6,552± SF freestanding commercial building; Open floor plan supports multiple commercial configurations; Potential uses include restaurant, retail, event, office, medical, fitness, and specialty concepts