Versatile Commercial Building on
935 Shelton Ave, Statesville, NC 28677
For Sale
$599,000
5,070 sq ft commercial building on 0.59-acre lot.
Property Size5,070 SF
Lot Size0.59 Acres
Price / SF$118.15
Days on Market249
Property Features for 935 Shelton Ave
General Information
Standard status
Size
Lot size
Building Details
Year Built
Listing Agency:
Century 21 Towne and Country
Listed By:
Cathy Griffin · License #187850
(704) 213-2464
Source:
Lewisandkirk
Added: Mar 5
Changed: Oct 26
Last Checked: Oct 7 at 1:09PM
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 Century 21 Towne and Country
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Investment Insights
Based on property information with market context.
This 5,070 sq. ft. commercial building is positioned on a 0.59-acre lot along one of Statesville’s most active thoroughfares. Currently operating as a go-kart and auto shop, this property features a functional mix of spacious warehouse area and dedicated office space. The property is zoned "Commercial", offering flexibility for automotive services, retail, light industrial, or professional suites. It benefits from high visibility and easy access in a central location designed to drive customer traffic.
Key Highlights
- Prime location on Shelton Ave, a high‑traffic thoroughfare.
- Versatile 5,070 sq. ft. commercial building on a .59‑acre lot.
- "Commercial" zoning allows for diverse business uses (automotive, retail, light industrial, professional suites).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,846
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,920
$736.9K
Cap Rate 7%
$526,371
$526.4K
Cap Rate 9%
$409,400
$409.4K
Market Conditions
NOI Build-Up for 5,070 SF
Gross rent
$45.6K $9.00/SF
− Vacancy
−$2.3K −$0.45/SF
EGI
$43.3K $8.55/SF
− OpEx
−$6.5K −$1.28/SF
NOI
$36.8K $7.27/SF
Area
Iredell County, NC
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,920
Cap Rate 7%
$526,371
Cap Rate 9%
$409,400
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,917 @ 7.0% cap · market cap 14.84%
Second Best
Retail
$889.2K
$778.0K – $1.04M
NOI $62,242 @ 7.0% cap · market cap 10.39%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,702 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
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
Similar Off Market Nearby
- Good As Gold Transportation — 1715 Shelton Ave, Statesville, NC 28677
- Junior's Garage — 1503 Shelton Ave, Statesville, NC 28677
- Iredell Auto Repair — 1503 Shelton Ave, Statesville, NC 28677
- Tim's Small Engine Service & Repair — 820 Wilmington Ave, Statesville, NC 28677
- Pedros auto repair — 1405 Shelton Ave, Statesville, NC 28677
Frequently Asked Questions
What type of property is this?
Auto shop - 5,070 sq ft commercial building on 0.59-acre lot.
Where is this auto shop located?
The property is located at 935 Shelton Ave Statesville, NC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime location on Shelton Ave, a high‑traffic thoroughfare.; Versatile **5,070 sq. ft. commercial building** on a .59‑acre lot.; "Commercial" zoning allows for diverse business uses (automotive, retail, light industrial, professional suites).
