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    39 State Street Ext Marion, NC 28752
    Property profile & analytics

    39 State Street Ext Marion, NC 28752

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    • Retail properties & Spaces
    • 0.10 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 39 State Street Ext

    Year built
    1925
    Lot size
    0.10 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents three adjoining commercial properties located in the vibrant heart of Marion, North Carolina's historic downtown. Situated on State Street, these properties offer a combined 150 feet of frontage, ensuring excellent visibility and accessibility for any business. The properties consist of three parcels totaling 0.1 acres. The first building, at 39 State Street, includes a studio apartment featuring a kitchenette, bathroom, and living area. The second building, 41 State Street, is currently configured as an art studio complete with a full bathroom and kitchenette. The third parcel, 43 State Street, is a charming private garden area with convenient back access to a parking lot. This parking area offers additional potential

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    McDowell
    State
    North Carolina
    Longitude
    -82.007
    Latitude
    35.6825

    Comparable in this City

    • Value Estimation
      $560,000
      9,987 SF

      522 Henderson St

      DEPARTMENT STORE • 9,987 SF
      522 Henderson St, Marion, NC 28752-4612
      View Details
    • Value Estimation by Request
      0.81 Acres

      2487 Sugar Hill Rd

      Restaurants • 0.81 Acres
      2487 Sugar Hill Rd, Marion, NC 28752
      View Details
    • Value Estimation by Request
      81,516 SF

      364 Us-70

      Neighborhood centers • 81,516 SF
      364 Us-70, Marion, NC 28752
      View Details
    • Value Estimation
      $520,000
      9,220 SF

      Us Hwy 70

      DEPARTMENT STORE • 9,220 SF
      Us Hwy 70, Marion, NC 28752
      View Details
    • Value Estimation by Request
      1,465 SF

      1209 Rutherford Rd

      Individual retail properties • 1,465 SF
      1209 Rutherford Rd, Marion, NC 28752
      View Details
    • Value Estimation
      $530,000
      10,934 SF

      4339 Us 221st S

      DEPARTMENT STORE • 10,934 SF
      4339 Us 221st S, Marion, NC 28752-7913
      View Details

    Similar Nearby for Sale

    • $699,000
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      Historical Downtown Marion Mixed-Use Building

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    • $650,000
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      Historic Marion Retail & Workshop

      Prime Downtown Location, High-Traffic Area
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    • $675,000
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      Prime Commercial Parcel in Marion

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    • $475,000

      Downtown Marion Commercial Property For Sale

      Corner property in downtown Marion with parking and high visibility.
      166 N Logan St, Marion, NC 28752
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    • $195,000

      Remodeled Commercial Building on Court

      Remodeled commercial building suitable for retail or office use.
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    Similar Nearby for Lease

    • Contact for pricing

      Marion NC Flex Space Available

      Commercial flex space for lease near Marion City Square.
      500 N Main St, Marion, NC 28752
      View Details
    • New
      $1,850 /Mo
      21,780 SF

      Marion Commercial Space For Lease

      Warehouse and office space available in Marion near I-40.
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      View Details
    • Contact for pricing

      7-Acre Graded Site For Lease

      7-acre graded, pad-ready site suitable for industrial/distribution business.
      364 Us-70, Marion, NC 28752
      View Details
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    Marion, NC 28752
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    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
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