Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    163 Absher Park Rd Statesville, NC 28625

    Property Lookup

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

    163 Absher Park Rd Statesville, NC 28625

    View on Map
    • Retail properties & Spaces
    • 2,480 SF
    • 0.91 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 163 Absher Park Rd

    Year built
    2007
    Lot size
    0.91 lot acres
    Property size
    2,480 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 2,480 square foot office building, constructed in 2007, is situated on a 0.912-acre lot in Statesville, North Carolina (APN: 4735-52-9723.000). The property, zoned CU33-B4, comprises two buildings and two stories, offering a functional and versatile workspace. The interior features five private offices, open work areas, two full bathrooms, and two half bathrooms. A full kitchen and utility room add to the building's practicality. Ample parking is available, ensuring convenience for staff and clients. This property boasts high visibility from Interstate 40, near exit 150, and includes a large monument sign for excellent brand exposure. The building's modern construction and abundant natural light create a welcoming and productive environment. This is an ideal location for businesses seeking a prominent presence in a thriving community. The asking price is $1,250,000. The property consists of one unit with a net rentable area of 2,480 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.9024
    Latitude
    35.8033

    Comparable in this City

    • Value Estimation by Request
      2,480 SF

      163 Absher Park Rd

      Office Units • 2,480 SF
      163 Absher Park Rd, Statesville, NC 28625
      View Details
    • Value Estimation by Request
      6,300 SF

      207 Eastside Dr

      Lifestyle centers • 6,300 SF
      207 Eastside Dr, Statesville, NC 28625
      View Details
    • Value Estimation by Request
      147,858 SF

      1885 Broad St

      Restaurants • 147,858 SF
      1885 Broad St, Statesville, NC 28625
      View Details
    • Value Estimation
      $910,000
      6,316 SF

      1418 Fern Crk Dr, Unit 1420

      MEDICAL BUILDING • 6,316 SF
      1418 Fern Crk Dr, Statesville, NC 28625-9376
      View Details
    • Value Estimation
      $555,000
      4,066 SF

      115 Scotts Crk Rd

      MEDICAL BUILDING • 4,066 SF
      115 Scotts Crk Rd, Statesville, NC 28625-8791
      View Details
    • Value Estimation
      $2,050,000
      19,005 SF

      627 Signal Hl Dr Ext

      MEDICAL BUILDING • 19,005 SF
      627 Signal Hl Dr Ext, Statesville, NC 28625-4353
      View Details

    Similar Nearby for Sale

    • $245,000

      Love Valley Retail Opportunity

      Retail space with apartment in unique western town.
      175 Henry Martin Trl, Statesville, NC 28625
      View Details
    • Contact for pricing

      Retail or QSR Land Opportunity

      Interior lot in Eastside Center near various businesses.
      1503 Cinema Dr, Statesville, NC 28625
      View Details
    • Contact for pricing

      Commercial Parcel with Road Frontage

      3.7 acre commercial parcel with B5 zoning and road frontage.
      2329-2333 Davie Ave, Statesville, NC 28625
      View Details
    • $95,000

      Waterfront Land Near Lake Norman

      Waterfront property with lake access and highway proximity.
      155 Lookout Dam Rd, Statesville, NC 28625
      View Details
    • $35,000

      Iredell County Acreage For Sale

      1.07 acre lot in northern Iredell County.
      00 Hilltop Dr, Statesville, NC 28625
      View Details
    • Contact for pricing

      Statesville Commercial Land For Sale

      18.022 acres of commercial land with excellent visibility.
      Mocksville Hwy, Statesville, NC 28625
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      147,858 SF

      Shoppes at Broad St Retail Space

      High-traffic retail space, I-77 & I-40 access.
      1885 Broad St, Statesville, NC 28625
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Community Center

      Retail space available in community center anchored by Food Lion.
      1530-1670 E Broad St, Statesville, NC 28625
      View Details
    • Contact for pricing
      1,202 SF

      Retail Space in Forth Crossings

      Newer retail center with high visibility and easy access.
      187 Turnersburg Hwy, Statesville, NC 28625
      View Details
    • Contact for pricing
      3,410 SF

      Retail Space Near Amenities

      Retail space available near hotels, restaurants, and car dealerships.
      1525-1531 Cinema Dr, Statesville, NC 28625
      View Details
    • Contact for pricing

      Statesville Drive-Thru Restaurant Opportunity

      Freestanding drive-thru restaurant space in Statesville's retail corridor.
      294 Turnersburg Hwy, Statesville, NC 28625
      View Details
    • Contact for pricing

      Retail Space Near Amenities

      Retail space available near hotels and restaurants.
      1525 Cinema Dr, Statesville, NC 28625
      View Details
    Request Owner's contact information
    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.
    163 Absher Park Rd
    Statesville, NC 28625
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!