Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Restaurant Space in Eastgate Center Title is generated by Realmo AI

    839 E Hwy 24 27 Bypass, Albemarle, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former Subway restaurant space available in Albemarle, North Carolina.

    Type:RETAIL
    Property size:
    1,600 SF
    Lot size:
    11.39 Acres
    Added:
    Nov 1, 2025
    Days on Market:
    199
    Last Refresh:
    Apr 5 at 8:19 pm

    Property Features for 839 E Hwy 24 27 Bypass

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Lot size
    11.39 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 839 E Hwy 24 27 Bypass Contact us

    We can help!

    Listing Contact
    Evan Mozingo

    Listing agent Evan Mozingo

    Listing office Northstate Property Advisors, Inc.

    Listing date Nov 1, 2025

    Source Moodyscre

    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 Northstate Property Advisors, Inc.

    HighLights

    • High‑traffic location within Eastgate Shopping Center anchored by Food Lion.
    • Existing infrastructure for food service, including two walk‑in coolers, plumbing, and electrical.
    • ±1,600 SF space built out for food service use.
    • Excellent visibility within the shopping center.
    • Ample parking and convenient access.
    • Steady customer base from surrounding residential and retail areas.

    Overview

    A former Subway restaurant space is available for rent within the Eastgate Shopping Center in Albemarle, North Carolina. The unit offers approximately 1,600 square feet of space within a neighborhood center anchored by Food Lion. The location benefits from strong daily traffic and good visibility. The space is built out for food service and includes two large walk-in coolers, existing plumbing, and electrical infrastructure. It is suitable for a quick-service restaurant, café, or other retail concept. Eastgate Shopping Center provides ample parking, convenient access, and a steady customer base drawn from the surrounding residential and retail areas.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Albemarle
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.2044
    Latitude
    35.3371

    Nearby Similar for Lease

    • $900/Mo

      Albemarle Retail or Office Space

      End unit in established strip center, suitable for retail/office.
      1108 N 2nd Street, Albemarle, NC 28001
      View Details
    • $2,852/Mo

      Commercial Space on High-Visibility Corridor

      Commercial space with frontage on a well-traveled corridor in Albemarle.
      814 NC 24/27, Albemarle, NC 28001
      View Details
    • $20 SF/Yr
      1,850 SF

      Move-In Ready Office/Retail Space

      Versatile 1,850 SF space suitable for office or retail.
      1954 E Main St, Albemarle, NC
      View Details
    • $2,773/Mo
      1,773 SF

      Albemarle Warehouse/Distribution Space Available

      Flexible warehouse and distribution space with highway access.
      1735 Woodhurst Ln, Albemarle, NC
      View Details
    • $5,473/Mo
      5,473 SF

      Albemarle Warehouse and Distribution Space

      Adaptable warehouse and distribution space with highway access.
      1739 Woodhurst Ln, Albemarle, NC
      View Details
    • $3,773/Mo
      3,773 SF

      Albemarle Warehouse/Flex Space Available

      Warehouse/flex space with highway access near downtown Albemarle.
      1737 Woodhurst Ln, Albemarle, NC
      View Details
    • Contact for pricing
      1,200 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces with excellent visibility and easy access.
      800-819 N First St, Albemarle, NC
      View Details
    • Contact for pricing
      200,000 SF

      Albemarle Industrial Space For Rent

      Versatile industrial space with warehousing and office components available for rent.
      225 N Depot St, Albemarle, NC
      View Details
    • $15 SF/Yr
      5,150 SF

      Downtown Albemarle Restaurant Opportunity

      Three-story restaurant space in downtown Albemarle, North Carolina.
      135-141 W Main St, Albemarle, NC
      View Details
    • Contact for pricing
      2,540 SF

      Retail Space on Highway 24

      Retail space with excellent visibility on Highway 24.
      830 NC 24, Albemarle, NC
      View Details
    • Contact for pricing

      Albemarle Retail Space For Lease

      Retail spaces available for lease in Albemarle, North Carolina.
      718, 750, 780 Leonard Ave, Albemarle, NC 28001
      View Details
    • Contact for pricing

      Versatile Industrial Space for Rent

      Industrial space with offices, warehousing, and ample parking.
      225 N Depot St, Albemarle, NC 28001
      View Details

    FAQs

    What type of property is this?
    Restaurant - Former Subway restaurant space available in Albemarle, North Carolina.
    Where is this restaurant located?
    The property is located at 839 E Hwy 24 27 Bypass Albemarle, NC.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location within Eastgate Shopping Center anchored by Food Lion.; Existing infrastructure for food service, including two walk‑in coolers, plumbing, and electrical.; **±1,600 SF space built out for food service use.**
    (980) 621-3224 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Evan Mozingo
    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

    Thank You for Inquiry
    839 E Hwy 24 27 Bypass, Albemarle, NC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!