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

    Gettys St Forest City, NC 28043

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

    Prime 4.83-acre commercial lot, high visibility.

    Property Features for 0 Gettys St

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Don L. Peeler
    Don L. Peeler

    Listing Agent: Don L. Peeler

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

    Learn more

    Overview

    This exceptional 4.83-acre commercial land parcel presents a remarkable investment opportunity in the thriving Uptown Forest City, North Carolina. Located at 0 Gettys Street, 28043, this property boasts an impressive 327 feet of frontage on West Main Street, ensuring high visibility and accessibility. The lot extends 660 feet deep on Gettys Street and features a 323-foot rear property line adjacent to the Thermal Belt Railroad walking trail, offering unique potential for development. The 529-foot west property line provides ample space. The land is level with a gentle slope towards the rear, making it ideal for various commercial ventures. Currently cleared and grassed, this property is conveniently located within the city limits of Forest City and benefits from readily available city utilities. The COMMERCIAL zoning allows for a wide range of development possibilities, capitalizing on the high traffic and high visibility location. This is a rare opportunity to acquire a significant commercial land holding in a desirable and rapidly growing area. The property's size, location, and zoning make it an exceptional investment for developers and businesses seeking a prominent presence in Forest City.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8757502
    Latitude
    35.3407258

    Nearby Similar for Sale

    • $500,000
      0.21 Acres

      Two Main Street Retail Buildings

      Two retail buildings on Main Street in Forest City, NC.
      138 W Main St, Forest City, NC 28043
      View Details
    • New
      $249,000
      1,704 SF

      Downtown Forest City Commercial Property

      Versatile commercial property in a high-traffic, desirable downtown location.
      155/157 E Main St, Forest City, NC 28043
      View Details
    • Contact for pricing

      Historic Downtown Theater and Retail

      15,359 SF building in historic downtown Forest City.
      131 E Main St, Forest City, NC 28043
      View Details
    • Contact for pricing
      2,366 SF

      Turnkey Daycare Facility For Sale

      Fully operational daycare facility licensed for 50 children in prime location.
      224 Piney Ridge Rd, Forest City, NC 28043
      View Details
    • $8,000,000
      180,000 SF

      Forest City Warehouse - $8M

      180,000 SF Industrial Warehouse, NC
      212 Nuway Packing Dr, Forest City, NC 28043
      View Details
    • $399,000

      Commercial Property in Growing Forest

      Commercial property in Forest City with recent renovations on 1.58 acres.
      1168 W Main St, Forest City, NC 28043
      View Details

    FAQs

    What type of property is this?
    Land - Prime 4.83-acre commercial lot, high visibility.
    Where is this land located?
    The property is located at Gettys St Forest City, NC.
    What is the asking price?
    The asking price for this property is $540,000.
    What are key features of this property?
    This property features: 4.83 acres of vacant, cleared, and grassed land in Forest City, NC (28043).; 327 feet of frontage on West Main Street.; Commercially zoned with all city utilities available on-site.
    (704) 913-1033 Call to check price and availability
    Request Owner's contact information
    Gettys St Forest City, NC 28043
    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.
    Gettys St
    Forest City, NC 28043
    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
    Gettys St Forest City, NC 28043
    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 Don L. Peeler
    Don L. Peeler
    Real Estate License ID: 122980
    (704) 913-1033 (704) 487-7653
    Learn more
    Google sign-in failed. Please try again or use another login method.