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    720 Main St Valdese, NC 28690

    • Manufacturing properties
    • 118,035 SF
    • 7.57 lot acres
    For Lease
    View listing
    $3 SF/Yr
    Last Sale
    Mar 28, 2024
    $1,825,000
    Value Estimations
    $1,825,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3811684
    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

    • Strings N Things / Store

    Property Details for 720 Main St

    Year built
    1962
    Construction
    WOOD FRAME
    Lot size
    7.57 lot acres
    Property size
    118,035 SF
    Zone code
    GENERAL MANUF DIST
    Property type
    Manufacturing properties
    APN
    33222
    APU
    33222

    Description

    This exceptional 171,799-square-foot industrial building, located at 720 Main St W in Valdese, NC, presents a significant opportunity. This single-tenant property boasts a prime location in downtown Valdese, offering convenient access to I-40. Built in 1962 and renovated in 1970, the three-story structure features 12-20' clear ceilings, thirteen dock-high doors, and a robust 120/208 3-phase power system. The property includes a wet sprinkler system for enhanced safety and security. Recent improvements include LED lighting, a partially new roof covering approximately 75,000 square feet, and new gas unit heaters. The 7.57-acre lot is fully fenced and provides ample paved parking. The building is zoned M1 and has an APN of 2733-66-4140. The property also features elevators. Taxes and insurance are paid by the owner. This expansive facility is ideal for a variety of manufacturing and warehousing operations. Don't miss this chance to secure a well-maintained, strategically located industrial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,825,000
      ML approach
      $1,825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,089,000
      Market price range: $616k - $3.80M
      AI Estimate
      $1,623,000
      Market price range: $924k - $3.80M

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

    Location Insight

    • Map
    • Local Demand
    City
    Valdese
    County
    Burke
    State
    North Carolina
    Longitude
    -81.5735
    Latitude
    35.7453
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN 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
    2024
    $17,125
    $169,560
    $1,586,883
    $1,756,443
    -
    $169,560
    $1,586,883
    $1,756,443

    Comparable in this City

    • Value Estimation
      $250,000
      735 SF

      2320 Messer Rd

      MANUFACTURING (LIGHT) • 735 SF
      2320 Messer Rd, Valdese, NC 28690
      View Details
    • Value Estimation
      $245,000
      256 SF

      5433 Mineral Spgs Mtn Ave

      MANUFACTURING (LIGHT) • 256 SF
      5433 Mineral Spgs Mtn Ave, Valdese, NC 28690-8794
      View Details
    • Value Estimation
      $605,000
      45,250 SF

      908 End NW St

      MANUFACTURING (LIGHT) • 45,250 SF
      908 End NW St, Valdese, NC 28690
      View Details
    • Value Estimation
      $600,000
      42,652 SF

      406 Praley SW St

      MANUFACTURING (LIGHT) • 42,652 SF
      406 Praley SW St, Valdese, NC 28690-2740
      View Details
    • Value Estimation
      $245,000
      2,214 SF

      406 Waldo St

      MANUFACTURING (LIGHT) • 2,214 SF
      406 Waldo St, Valdese, NC 28690
      View Details
    • Value Estimation
      $280,000
      288 SF

      4413 Conservation Cp Rd

      MANUFACTURING (LIGHT) • 288 SF
      4413 Conservation Cp Rd, Valdese, NC 28690-9717
      View Details

    Similar Nearby for Sale

    • $895,000
      34,500 SF

      Valdese Warehouse: 34,500 SF

      Spacious industrial warehouse, recently renovated.
      409 Morgan St, Valdese, NC 28690
      View Details
    • $1,500,000
      1.89 Acres

      Valdese Warehouse: $1.5M

      11,708 SF Warehouse on 1.89 Acres
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    • $450,000
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      Valdese Commercial Land - $450K

      Prime .97-acre corner lot, high visibility.
      540 Main St, Valdese, NC 28690
      View Details
    • $45,000
      0.68 Acres

      Land in Gated Community

      Interior lot in Lake Rhodhiss Estates with community amenities.
      436 E Settings Blvd, Valdese, NC 28690
      View Details
    • $80,000
      1.25 Acres

      Valdese Land in Gated Community

      1.25 acre wooded lot in Lake Rhodhiss Estates.
      335 Table Rock Trce NW, Valdese, NC 28690
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    • $39,900
      1.49 Acres

      Buildable Lot in Stones Throw

      1.49 acre buildable lot in Stones Throw Subdivision.
      3287 Stones Throw Dr, Valdese, NC 28690
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      171,799 SF

      Valdese Industrial Building For Lease

      172,000 SF Manufacturing/Warehouse
      720 Main St, Valdese, NC 28690
      View Details
    • Contact for pricing

      Valdese Corner Lot For Rent

      Prime 0.97-acre corner lot in Valdese's retail corridor.
      540 Main St W, Valdese, NC 28690
      View Details
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    720 Main St
    Valdese, NC 28690
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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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