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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Jake Alexander Blvd Salisbury, NC 28147

    • Retail properties
    • 2.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 701 Jake Alexander Blvd

    Lot size
    2.06 lot acres
    Property type
    Retail properties

    Description

    This exceptional 2.06-acre commercial lot is ideally situated at 701 S Jake Alexander Blvd in Salisbury, North Carolina, Rowan County (zip code 28147). The property is designated for retail use and offers a single-tenant opportunity. Its location within the Charlotte MSA provides excellent access to a substantial consumer base. Salisbury, the county seat of Rowan County, boasts a rich history and a thriving economy, anchored by major employers such as Food Lion, Novant Health Rowan Medical Center, and the W.G. (Bill) Hefner VA Medical Center. The city's strategic location, approximately 50 minutes from both Charlotte and Greensboro, enhances its accessibility and appeal. Furthermore, the recent establishment of a large Chewy distribution center just five miles away along I-85 signifies significant economic growth in the area, promising increased traffic and potential for future development. This property presents a unique chance to establish a retail presence in a dynamic and historically significant North Carolina city. The site's ample acreage allows for considerable flexibility in development plans, catering to a variety of retail concepts. This is a rare opportunity to acquire a substantial parcel of land in a rapidly growing market. The property's address is easily accessible and visible from a major thoroughfare.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4994
    Latitude
    35.6645

    Comparable in this City

    • Value Estimation
      $10,200,000
      69,072 SF

      1395 Klumac Rd

      DEPARTMENT STORE • 69,072 SF
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    • Value Estimation by Request

      5860/5930 Main St

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      5860/5930 Main St, Salisbury, NC 28147
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    • Value Estimation by Request
      10,542 SF

      160 Briggs Rd

      Restaurants • 10,542 SF
      160 Briggs Rd, Salisbury, NC 28147
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    • Value Estimation
      $9,205,000
      19,096 SF

      1435 Klumac Rd

      DEPARTMENT STORE • 19,096 SF
      1435 Klumac Rd, Salisbury, NC 28147-9087
      View Details
    • Value Estimation by Request
      73,778 SF

      1455 Klumac Rd

      DEPARTMENT STORE • 73,778 SF
      1455 Klumac Rd, Salisbury, NC 28147-9087
      View Details
    • Value Estimation
      $3,590,000
      24,998 SF

      511 Jake Alexander S Blvd

      VEHICLE SALES, RENTALS • 24,998 SF
      511 Jake Alexander S Blvd, Salisbury, NC 28147-9055
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Salisbury Mall Outparcel: Prime Development Site

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      79,732 SF

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    Similar Nearby for Lease

    • New
      $2,000 /Mo
      37,462 SF

      Vacant Land on Jake Alexander

      Commercial land for lease on a highly traveled road.
      Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • Contact for pricing
      39,261 SF

      Prime Salisbury Industrial Property

      ±39,261 SF Manufacturing/Warehouse
      245 Peach Orchard Rd, Salisbury, NC 28147
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    • $3,000 /Mo
      464,785 SF

      Office Space For Rent

      Office space available on a high-traffic road in Salisbury, NC.
      1525 W Jake Alexander Blvd, Salisbury, NC 28147
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    • Contact for pricing
      8,209 SF

      Medical Office Space Available

      Finished and unfinished medical spaces available for lease.
      530 Corporate Cir, Salisbury, NC 28147
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    • Contact for pricing
      7,200 SF

      Medical/Professional Office Suites For Rent

      Medical and professional office suites available in Salisbury, NC.
      1910 Jake Alexander Blvd W, Salisbury, NC 28147
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    • $1.02 SF/Yr
      174,240 SF

      Salisbury Industrial Land Lease

      Four-acre outdoor storage; excellent location.
      5170 S Main St, Salisbury, NC 28147, Salisbury, NC 28147
      View Details
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    701 Jake Alexander Blvd
    Salisbury, NC 28147
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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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