Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    00 Ritchie Rd Salisbury, NC 28147
    Back to Search
    Property profile & analytics

    00 Ritchie Rd, Salisbury, NC 28147

    View on Map
    • Specialty properties
    • 1.65 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 00 Ritchie Rd

    Lot size
    1.65 lot acres
    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 1.65-acre commercial land parcel presents a unique investment opportunity in Salisbury, North Carolina. Located at 00 Ritchie Road West, this property boasts convenient access to Interstate 85, just minutes from exit 74 (Julian Road). The lot is currently unimproved and offers significant potential for various business ventures. Its wooded character provides a tranquil setting while maintaining prime commercial visibility. The property is zoned HB (Highway Business), allowing for a wide range of development possibilities. Detailed site access is described in the original 1965 deed, noting a 10-foot alleyway providing ingress/egress to the adjacent property. This strategic location, coupled with the generous lot size and favorable zoning, makes this an ideal site for entrepreneurs and investors seeking a high-impact commercial development project in a rapidly growing area. The asking price for this exceptional property is $125,000. The property's address is 00 Ritchie Road W, Salisbury, NC 28147. Directions: From Charlotte, take I-85 North to exit 74 (Julian Road). Turn left onto Julian Road, then left onto W. Ritchie Road. The parcel is approximately 0.3 miles on the right.

    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
    -80.4944
    Latitude
    35.6325

    Comparable in this City

    • Value Estimation by Request
      1.65 Acres

      00 Ritchie Rd

      Land
      00 Ritchie Rd, Salisbury, NC 28147
      View Details
    • Value Estimation by Request
      11,480 SF

      2910 Main St

      VETERINARY, ANIMAL HOSPITAL
      2910 Main St, Salisbury, NC 28147-7903
      View Details
    • Value Estimation by Request
      5,350 SF

      220 Grace Church Rd

      VETERINARY, ANIMAL HOSPITAL
      220 Grace Church Rd, Salisbury, NC 28147-9687
      View Details
    • Value Estimation by Request
      9,414 SF

      4155 Statesville Blvd

      VETERINARY, ANIMAL HOSPITAL
      4155 Statesville Blvd, Salisbury, NC 28147-7460
      View Details
    • Value Estimation by Request
      1,470 SF

      3002 Main St

      VETERINARY, ANIMAL HOSPITAL
      3002 Main St, Salisbury, NC 28147-7904
      View Details
    • Value Estimation by Request
      3.65 Acres

      1300 Sierra Trce Rd

      Land
      1300 Sierra Trce Rd, Salisbury, NC 28147
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      39,261 SF

      Salisbury, NC Specialty Property

      Specialty property in Salisbury, NC, near major transportation routes.
      245 Peach Orchard Rd, Salisbury, NC 28147
      View Details
    • $239,500
      21.23 Acres

      21 Acres Prime Land Opportunity

      21+/- acre property ideal for homes, farming, or investment.
      Catawba Dr, Salisbury, NC 28147
      View Details
    • Contact for pricing
      10,908 SF

      Freestanding Parachute Plasma Investment Property

      NNN leased Parachute Plasma investment property with over 9 years remaining.
      640 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Prime Commercial Land I-85 Corridor

      75.86 acre commercial site with I-85 access.
      Peeler Rd, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Land Adjacent to Retail Development

      Land with high visibility near I-85 and retail.
      1207 Klumac Rd, Salisbury, NC 28147
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land on Jake Alexander

      Highly traveled commercial land for rent near I-85.
      000 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Industrial Building For Lease

      Industrial building with 39,261 square feet available for lease.
      245 Peach Orchard Rd, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Proposed Industrial Development in Rowan

      293,918 SF industrial space for lease near I-85.
      505 Grace Church Rd, Salisbury, NC 28147
      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.
    00 Ritchie Rd
    Salisbury, NC 28147
    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

    Thank You for Inquiry
    00 Ritchie Rd, Salisbury, NC, 28147
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!