Shelby Office Building For
For Sale
$1,175,000
824 S Dekalb St, Shelby, NC 28150
Corner lot office building with multiple offices and parking.
Property Size4,587 SF
Price / SF$256.16
Days on Market193
Property Features for 824 S Dekalb St
General Information
Standard status
Active
Size
4,587 SF
Building Details
Year Built
1981
Listing Agency:
Ivester Jackson Blackstream
Listed By:
Joy Pharr · License #270806
(704) 418-2963
Source:
Lewisandkirk
Added: Mar 5
Changed: Sep 8
Last Checked: Sep 13 at 11:56AM
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 Ivester Jackson Blackstream
Investment Insights
Based on property information with market context.
This office building is situated on a corner lot in Shelby, North Carolina, at the intersection of Dekalb Street, Earl Road, and Highway 74. The property features 11 spacious offices, a reception room and waiting areas, a large conference room, and three bathrooms. Additional amenities include a kitchenette and multiple storage rooms that could serve as smaller offices. The building offers easy access with two entrance points from Dekalb Street and Earl Road, along with a side delivery entrance. There are over 30 parking spaces available on three sides of the building, as well as two private entrances. The grounds are landscaped and meticulously maintained. The property is equipped with a security system and handicap access. Currently used as a mortgage office, the building is also suitable for a law firm, accounting office, dentist office, or counseling office. The property size is 4587 square feet.
Key Highlights
- Prime corner lot location at the intersection of Dekalb Street/Earl Rd/Hwy 74 in Shelby.
- Abundant parking with 30+ spaces on three sides of the building.
- Spacious layout featuring 11 offices, a large conference room, reception and waiting areas.
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
$62,855
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
5.35%
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%
$1,257,100
$1.3M
Cap Rate 7%
$897,929
$897.9K
Cap Rate 9%
$698,389
$698.4K
Market Conditions
NOI Build-Up for 4,587 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
$101.8K $22.20/SF
− Vacancy
−$18.0K −$3.93/SF
EGI
$83.8K $18.27/SF
− OpEx
−$21.0K −$4.57/SF
NOI
$62.9K $13.70/SF
Area
Cleveland County, NC
Vacancy
17.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,257,100
Cap Rate 7%
$897,929
Cap Rate 9%
$698,389
Alternative Uses
Best Use
Office B
$897.9K
$785.7K – $1.05M
NOI $62,855 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,542 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Corner lot office building with multiple offices and parking.
Where is this office building located?
The property is located at 824 S Dekalb St Shelby, NC.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Prime corner lot location at the intersection of Dekalb Street/Earl Rd/Hwy 74 in Shelby.; Abundant parking with **30+ spaces** on three sides of the building.; Spacious layout featuring **11 offices**, a large conference room, reception and waiting areas.
