Commercial Property with Income
For Sale
$525,000
651 S Post Road, Shelby, NC 28152
Two commercial buildings with room for expansion near Highway 74.
Property Size1,946 SF
Price / SF$269.78
Days on Market146
Property Features for 651 S Post Road
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Commercial
Amenities
Central air
Cleared
Heat Pump Cooling
Heat Pump Heating
Building Details
Year Built
2018
Listing Agency:
BROAD RIVER PROPERTIES, LLC
(704) 476-9143
Listed By:
MELISSA BRADSHAW
Source:
Corcoran
Added: Apr 7
Changed: Aug 27
Last Checked: Aug 29 at 7:15AM
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 BROAD RIVER PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This commercial property features two income-producing buildings, constructed in 2018 and 1994, with sizes of 1066 and 880 square feet respectively, totaling 1946 square feet. Located less than one mile from Highway 74, the property offers recurring revenue and potential for growth. The site provides ample parking space and room to add one or two additional commercial spots. The parking lot was seal coated on 6/20/25. The spaces have been well-maintained.
Key Highlights
- Established income‑producing commercial property with two buildings
- Located less than one mile from Highway 74
- Potential for growth with additional acreage for more commercial spots
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,318
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,360
$466.4K
Cap Rate 7%
$333,114
$333.1K
Cap Rate 9%
$259,089
$259.1K
Market Conditions
NOI Build-Up for 1,946 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.0K $18.00/SF
− Vacancy
−$1.7K −$0.88/SF
EGI
$33.3K $17.12/SF
− OpEx
−$10.0K −$5.14/SF
NOI
$23.3K $11.98/SF
Area
Cleveland County, NC
Vacancy
4.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,360
Cap Rate 7%
$333,114
Cap Rate 9%
$259,089
Alternative Uses
Best Use
Retail
$333.1K
$291.5K – $388.6K
NOI $23,318 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.2K
$432.4K – $576.6K
NOI $34,594 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28152, NC
25,643
Population
11,134
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
90%
High-School Grad
79.5 sq mi
ZIP Area
323
Density / Sq Mi
$55,926
Median Household Income
$36,149
Median Earnings
$904
Median Rent
$188,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial buildings with room for expansion near Highway 74.
Where is this storefront property located?
The property is located at 651 S Post Road Shelby, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Established income‑producing commercial property with two buildings; Located less than one mile from Highway 74; Potential for growth with additional acreage for more commercial spots
