Former Credit Union
For Sale
Contact for pricing
416 S Main St, Shelby, NC 28152
Brick building with flexible layout and ample parking.
Property Size4,800 SF
Lot Size1.50 Acres
Price / SF$177.08
Days on Market918
Property Features for 416 S Main St
General Information
Standard status
Active
Size
4,800 SF
Class
B
Lot size
1.50 Acres
Property subtype
Office
Zoning
GB
Building Details
Year Built
2004
Buildings
1
Stories
1
Units
2
Listing Agency:
Foothills Commercial Real Estate LLC
Listed By:
Bill McCarter · License #NC 100715
(980) 404-1111
Source:
Crexi
Added: Apr 12, 2024
Changed: Oct 14
Last Checked: Oct 16 at 6:27AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,774
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,315,480
$1.3M
Cap Rate 7%
$939,629
$939.6K
Cap Rate 9%
$730,822
$730.8K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$106.6K $22.20/SF
− Vacancy
−$18.9K −$3.93/SF
EGI
$87.7K $18.27/SF
− OpEx
−$21.9K −$4.57/SF
NOI
$65.8K $13.70/SF
Area
Cleveland County, NC
Vacancy
17.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,315,480
Cap Rate 7%
$939,629
Cap Rate 9%
$730,822
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 28152, NC
25,643
Population
11,134
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
90%
High-School Grad
79.5 sq mi
ZIP Area
323
Density / Sq Mi
$55,926
Median Household Income
$36,149
Median Earnings
$904
Median Rent
$188,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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.
