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    115 Innes St Salisbury, NC 28144

    Sponsored
    For Sale
    $850,000

    Historic building, prime retail location.

    Property size:
    12,920 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 12,920 square foot, two-story storefront building is ideally situated in the heart of downtown Salisbury, North Carolina, at 115 W Innes St, 28144. Boasting significant historic character, including massive solid wood beams, columns, large windows, exposed brick, and hardwood floors (2,000 sq ft of new solid oak on the lower level and original solid pine on the upper level), this property presents a unique investment opportunity. The open floor plan on both levels offers incredible flexibility. The building's prime location is directly across from the new $12 million Bell Tower Park, a vibrant hub expected to host over 100 events annually, ensuring high visibility and foot traffic. This location is key for retail and entertainment businesses. The upper level presents a compelling opportunity for development into approximately four luxury apartments, complete with common storage and workspace areas. This property is located in an opportunity zone, qualifying for North Carolina state and federal tax credits for historic renovations. The city of Salisbury also offers incentives and grants for improvements to historic downtown buildings. The asking price is $850,000, with a price per square foot of $65.79. The lot size is 0.09 acres, and the land value is $65.75 per square foot. Built in 1900, this building offers a blend of historical charm and modern potential.

    Property Features for 115 Innes St

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,920 SF
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1900
    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Tita's Cake House Coffee Shop

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.470736
    Latitude
    35.6675479

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    FAQs

    What type of property is this?
    Individual retail property - Historic building, prime retail location.
    Where is this individual retail property located?
    The property is located at 115 Innes St Salisbury, NC.
    What is the asking price?
    The asking price for this property is $850,000.
    Request Owner's contact information
    115 Innes St Salisbury, NC 28144
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    Salisbury, NC 28144
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    Realmo Value Estimation

    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.

    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.

    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
    115 Innes St Salisbury, NC 28144
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