Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    Main St Forest City, NC 28043

    Sponsored
    For Sale
    $199,000

    1.88 Acres, Zoned GC, $199,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 1.88-acre commercial land parcel presents a remarkable investment opportunity in the thriving Forest City, North Carolina market. Located on W Main St, this property boasts a highly desirable General Commercial (GC) zoning designation, opening doors to a wide array of potential commercial developments. The expansive lot size provides ample space for various projects, from retail establishments and restaurants to office buildings and light industrial uses. Its strategic location on W Main St ensures high visibility and accessibility, maximizing potential for attracting customers and clients. The property's address is W Main St, Forest City, NC 28043, and its precise coordinates are latitude 35.3437934 and longitude -81.8827791. The parcel is identified by the Assessor's Parcel Number (APN) 1649950. This prime piece of real estate in Rutherford County offers significant potential for substantial returns. The asking price is $199,000, making it an attractive proposition for investors seeking a foothold in a growing North Carolina market. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. Don't miss this chance to acquire a valuable asset in a dynamic location. The property is ready for development and offers immediate potential for income generation.

    Property Features for 0 Main St

    General Information

    Property type
    Land
    Lot Size
    81,893 SF

    HighLights

    • $199,000 asking price.
    • 1.88‑acre commercial land parcel.
    • Located in Forest City, NC.
    • GC zoning.
    • APN: 1649950.
    • Address: W Main St, Forest City, NC 28043.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.8827791
    Latitude
    35.3437934

    Nearby Comparable

    • $199,000
      1.88 Acres

      Forest City Commercial Land Opportunity

      1.88 Acres, Prime Location, $199,000
      0 Main St, Forest City, NC 28043
      View Details
    • $75,000

      Commercial Land Ready For Development

      Prime commercial land in Forest City, NC, ready for development.
      00 Withrow Rd, Forest City, NC 28043
      View Details
    • $540,000

      Forest City Commercial Land - $540K

      Prime 4.83-acre commercial lot, high visibility.
      0 Gettys St, Forest City, NC 28043
      View Details
    • $199,000
      1.88 Acres

      Commercial Land in Forest City

      Level commercial building lot with frontage on three streets.
      W Main St W, 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
    • Contact for pricing

      Commercial Land Near Retail Area

      Commercial land for sale in a high-traffic retail area.
      Sparks Dr, Forest City, NC 28043
      View Details
    • $1,000,000
      4.92 Acres

      Forest City Commercial Land - $1M

      Prime 4.92-acre commercial lot, excellent location.
      276 Butler Rd, Forest City, NC 28043
      View Details
    • $114,900
      0.57 Acres

      Forest City Commercial Land - $114,900

      0.57-acre commercial lot, prime location.
      0 Withrow Rd, Forest City, NC 28043
      View Details

    Nearby Similar for Sale

    • $500,000
      0.21 Acres

      Main Street Retail Buildings For Sale

      Two retail buildings on Main Street in Forest City, NC.
      138 W Main St, Forest City, NC 28043
      View Details
    • New
      $440,000
      5.30 Acres

      Mobile Home Park Opportunity

      Mobile home park for sale in Forest City, North Carolina.
      827 Old Henrietta Rd, Forest City, NC 28043
      View Details
    • $850,000

      Historic Downtown Theater and Retail

      15,359 SF building in historic downtown Forest City.
      131 E Main St, Forest City, NC 28043
      View Details
    • $345,000
      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
    • $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
    • $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

    FAQs

    What type of property is this?
    Land - 1.88 Acres, Zoned GC, $199,000
    Where is this land located?
    The property is located at Main St Forest City, NC.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: $199,000 asking price.; 1.88-acre commercial land parcel.; Located in Forest City, NC.
    (828) 395-2222
    Request Owner's contact information
    Main 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.
    Main 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
    Main 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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.