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    181 Main St Spindale, NC 28160

    • Data centers and call centers
    • 2,500 SF
    • 0.07 lot acres
    For Sale
    View listing
    $157,900
    Last Sale
    Feb 14, 2025
    $125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2791239
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Data centers and call centers

    Property Details for 181 Main St

    Year built
    1928
    Lot size
    0.07 lot acres
    Property size
    2,500 SF
    Zone code
    CC
    Property type
    Data centers and call centers
    APN
    1206122
    APU
    1206122

    Description

    This exceptional commercial property, situated at 181 Main Street in Spindale, NC, presents a unique investment opportunity. Boasting a highly desirable corner location at the intersection of West Main Street and South Oak Street, this building enjoys exceptional visibility and benefits from significant vehicle and pedestrian traffic. The attractive stone facade enhances curb appeal, making a strong first impression. The main floor comprises thirteen individual offices, a dedicated conference room, a convenient kitchenette, and a half bathroom. Upstairs, you'll find an additional conference room, an office, and two half bathrooms, providing ample space for various needs. A full basement, accessible via an exterior entrance, includes a complete bathroom, offering versatile storage or additional workspace potential. The 0.07-acre lot provides ample space for parking and outdoor activities. The building's existing layout is ideal for a variety of uses, including but not limited to rental office space, a beauty salon, boutique, medical spa, real estate agency, or insurance office. The possibilities are truly extensive for both established and emerging businesses seeking a prominent and well-equipped location in Spindale. The asking price is $157,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $120,000
      ML approach
      $135,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $195,000
      WAREHOUSE, STORAGE
      $110,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spindale
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.933
    Latitude
    35.358
    CBSA code
    22580
    CBSA name
    FOREST CITY, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $952
    $13,500
    $90,400
    $103,900
    -
    $13,500
    $90,400
    $103,900

    Comparable in this City

    • Value Estimation
      $285,000
      2,900 SF

      161 Main St

      OFFICE (GENERAL) • 2,900 SF
      161 Main St, Spindale, NC 28160-1539
      View Details
    • Value Estimation
      $235,000
      1,690 SF

      129 Reservation Dr

      OFFICE (GENERAL) • 1,690 SF
      129 Reservation Dr, Spindale, NC 28160-1567
      View Details
    • Value Estimation
      $285,000
      2,136 SF

      101 Callahan Koon Rd

      OFFICE (GENERAL) • 2,136 SF
      101 Callahan Koon Rd, Spindale, NC 28160-2219
      View Details
    • Value Estimation
      $255,000
      2,668 SF

      136 Reservation Dr

      MEDICAL BUILDING • 2,668 SF
      136 Reservation Dr, Spindale, NC 28160-5221
      View Details
    • Value Estimation
      $260,000
      696 SF

      110 Maryland St

      MEDICAL BUILDING • 696 SF
      110 Maryland St, Spindale, NC 28160-4043
      View Details
    • Value Estimation
      $495,000
      5,200 SF

      1553 Old Ballpark Rd

      OFFICE (GENERAL) • 5,200 SF
      1553 Old Ballpark Rd, Spindale, NC 28160-2177
      View Details

    Similar Nearby for Sale

    • $157,900
      0.07 Acres

      Spindale Main Street Office Building

      Prime Location, High Visibility, 13+ Offices
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    • $122,000
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      Spindale Commercial Property For Sale

      2+ acre commercial property in Spindale, NC, with high traffic.
      S Oak St, Spindale, NC 28160
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    • $122,000

      Spindale Commercial Property For Sale

      2+ acre commercial property in Spindale, North Carolina.
      S Oak St, Spindale, NC 28160
      View Details
    • Contact for pricing
      1.76 Acres

      Land in Spindale, North Carolina

      1.76 acres of land ready for development.
      Ledbetter Rd, Spindale, NC 28160
      View Details
    • $69,900
      3.83 Acres

      Spindale NC Wooded Land

      3.83+/- acres of wooded land in Spindale, North Carolina.
      Rutherford St, Spindale, NC 28160
      View Details
    • $39,400

      Ready-to-Build Lot in Spindale

      Residential lot in Spindale, NC, ideal for developers or homeowners.
      00 Old Ballpark Rd, Spindale, NC 28160
      View Details
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    181 Main St
    Spindale, NC 28160
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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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