Former Credit Union
416 S Main St, Shelby, NC 28152
Call to check price and availability
Brick building with flexible layout and ample parking.
Type:Office
Property size:
4,800 SFLot size:
1.50 AcresPrice / SF:
$177/SF- Added:
- Apr 12, 2024
- Days on Market:
- 782
- Last Refresh:
- May 12 at 10:51 pm
Property Features for 416 S Main St
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Lot size
- 1.50 Acres
- Property subtype
- Office
Building Details
- Year Built
- 2004
Listing agent Bill McCarter License #NC 100715
Listing office Foothills Commercial Real Estate LLC (980) 404-1111
Listing date Apr 12, 2024
Source Crexi
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 Foothills Commercial Real Estate LLC
HighLights
- 1.5 acres of land included with the property.
- High traffic location with over 210 feet of road frontage on South Main Street (NC150) and an AADT of 7700 vehicles per day.
- Quality brick construction with rigid metal frame allowing flexible layout configurations.
- Paved parking lot with 54 spaces plus 3 handicapped spaces.
- Currently subdivided for two tenants, offering immediate income potential.
- Municipal water and sewer service provided by the town of Boiling Springs.
Overview
This property, formerly a State Employees Credit Union, features quality brick construction with a rigid metal frame, offering layout flexibility. The building is currently subdivided for two tenants. The property includes approximately 1.5 acres and a paved parking lot with 54 spaces, including 3 handicapped spaces. It has over 210 feet of road frontage on South Main Street (NC150), with an Average Annual Daily Traffic (AADT) count of 7700 vehicles per day. Municipal water and sewer services are provided by the town of Boiling Springs. The building has a total size of 4800 square feet.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.6k | $22.20 |
| − Vacancy | −$18.9k | −$3.93 |
| EGI | $87.7k | $18.27 |
| − OpEx | −$21.9k | −$4.57 |
| NOI | $65.8k | $13.70 |
4,800 SF · lease $22.20/SF/yr · vacancy 17.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$939.6K
$822.2K – $1.10M
NOI $65,774 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,329 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Fresh Perspectives Nutrition ...
Physician
Christine Bach
Physician
Location Insight
- Map
- Local Demand
- City
- Shelby
- County
- Cleveland
- State
- North Carolina
- Longitude
- -81.66759
- Latitude
- 35.236794
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Brick building with flexible layout and ample parking.
Where is this office building located?
The property is located at 416 S Main St Shelby, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1.5 acres of land included with the property.; High traffic location with over 210 feet of road frontage on South Main Street (NC150) and an AADT of 7700 vehicles per day.; Quality brick construction with rigid metal frame allowing flexible layout configurations.
