Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    816 Main St Locust, NC 28097

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime 1,056 sq ft lot, high traffic area.

    Property size:
    1,056 SF

    Property Features for 816 Main St

    General Information

    Property type
    Restaurants
    Square Feet
    1,056 SF

    Building Details

    Year Built
    1935
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Judy Godwin
    Judy Godwin

    Listing Agency: J Godwin Realty Listing Agent: Judy Godwin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property, located at 816 West Main Street in Locust, North Carolina, presents a unique opportunity for entrepreneurs. The 1,056 square foot lot, priced at $420,000 ($397.73/sq ft), is currently vacant and offers significant potential for redevelopment. Situated on a five-lane highway boasting approximately 27,000 vehicles daily, this property enjoys exceptional visibility. The existing structure, built in 1935, is a vacant house and will require demolition to accommodate new construction. This allows for complete customization to suit a variety of business needs, including those suitable for residential zoning. The property's strategic location is across from a thriving business district and within walking distance of a shopping area, ensuring high foot traffic and customer accessibility. The property is being sold "as is." Note that two adjacent parcels are also available for purchase, expanding the total acreage to 3.1 acres. The owner is open to considering all offers. This is an ideal location for a bank, grocery store, or restaurant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Locust
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.3992652
    Latitude
    35.3040317

    Nearby Similar for Sale

    • $348,000
      1,458 SF

      Locust Commercial Property - Great Location!

      Versatile building, .56 acres, updated systems.
      115 Central Ave, Locust, NC 28097
      View Details
    • $389,900
      0.88 Acres

      Locust Commercial Lot - Highway Frontage

      Prime commercial lot, high traffic count, ideal location.
      904 Main St, Locust, NC 28097
      View Details
    • $2,000,000
      1.57 Acres

      Locust, NC Commercial Warehouse

      Modern Warehouse, 9600 SF, 1.57 Acres
      123 Locust Level Dr, Locust, NC 28097
      View Details
    • $500,000
      2.02 Acres

      Locust Commercial Land - High Traffic

      Prime commercial lot, high visibility, 2.02 acres.
      00 Main St, Locust, NC 28097
      View Details
    • $398,000
      1.65 Acres

      Locust Retail Land - Prime Location

      1.65 Acres, High Traffic, Development Ready
      000 Main St, Locust, NC 28097
      View Details
    • $650,000
      0.50 Acres

      Locust Retail Building - Main Street

      High-traffic retail space, prime location.
      612 Main St, Locust, NC 28097
      View Details
    • $420,000
      1,056 SF

      Locust Commercial Property - Main St.

      High-traffic location, great business opportunity.
      816 Main St, Locust, NC 28097
      View Details
    • $1,200,000
      3.91 Acres

      Locust Commercial Land Opportunity

      3.91 Wooded Acres, High Traffic Area
      0000 Main St, Locust, NC 28097
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime 1,056 sq ft lot, high traffic area.
    Where is this restaurant located?
    The property is located at 816 Main St Locust, NC.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: 1,056 sq ft lot in Locust, NC, priced at $420,000 ($397.73/sq ft).; High-visibility location on a five-lane highway with approximately 27,000 vehicles daily.; Vacant lot with existing structure (1935 house) requiring demolition; allows for new construction.
    (704) 438-3403 Call to check price and availability
    Request Owner's contact information
    816 Main St Locust, NC 28097
    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.
    816 Main St
    Locust, NC 28097
    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
    816 Main St Locust, NC 28097
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Judy Godwin
    Judy Godwin
    Real Estate License ID: 231444
    (704) 438-3403 (704) 699-9899 (704) 888-1812
    Learn more
    Google sign-in failed. Please try again or use another login method.