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    21 East St Newton, NC 28658

    Sponsored
    For Lease
    $92 SF/Yr

    Prime 2,325 sq ft office space in Newton, NC

    Lot size:
    2,325 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 2,325 square foot single-tenant office suite is ideally situated in the heart of Downtown Newton, North Carolina, at 21 E A St, zip code 28658. The property is classified as both Traditional and Creative Office space, making it suitable for a variety of professional uses. Its ground-level location offers excellent visibility and accessibility. The interior boasts multiple private offices, providing ample space for individual work or team collaboration. A convenient kitchenette is included, along with dedicated waiting and reception areas to ensure a professional and welcoming atmosphere for clients and visitors. Significant storage space is also available to meet various business needs. The location is highly advantageous, being within walking distance of banks, restaurants, and other businesses, fostering a vibrant and convenient work environment. Furthermore, its proximity to the county courthouse, less than a mile away, adds to its strategic appeal. Currently, a special reduced rent rate is being offered, a significant benefit tied to the ongoing Newton Streetscape Project. This presents a unique opportunity to secure a prime location in a thriving downtown area at a reduced cost. This property is perfect for businesses seeking to establish a presence or expand their operations in a dynamic and growing community. Don't miss this chance to secure this exceptional space.

    Property Features for 21 East St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,325 SF

    Unit(s) available at that property

    Space
    Size
    2,325 SF
    Rate per SF
    $92

    We can help!

    Listing Contact
    Lisa Cernuto
    Lisa Cernuto

    Learn more

    HighLights

    • 2,325 SF single‑tenant office suite in Downtown Newton, NC (28658).
    • Ground‑floor location with excellent visibility and accessibility.
    • Multiple private offices, kitchenette, waiting/reception areas, and ample storage.
    • Reduced rent rate offered due to the Newton Streetscape Project.
    • Walkable to banks, restaurants, and less than a mile from the county courthouse.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Realty agency Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.222093415456
    Latitude
    35.662733364422

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    FAQs

    What type of property is this?
    Office space - Prime 2,325 sq ft office space in Newton, NC
    Where is this office space located?
    The property is located at 21 East St Newton, NC.
    What is the lease rate?
    The lease rate is $92 SF/Yr.
    What are key features of this property?
    This property features: 2,325 SF single-tenant office suite in Downtown Newton, NC (28658).; Ground-floor location with excellent visibility and accessibility.; Multiple private offices, kitchenette, waiting/reception areas, and ample storage.
    Request Owner's contact information
    21 East St Newton, NC 28658
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    Newton, NC 28658
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    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
    21 East St Newton, NC 28658
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    We can help!
    Listing Contact
    Lisa Cernuto
    Lisa Cernuto
    Real Estate License ID: NC 201272
    Learn more
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