Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1007 Lexington Ave Salisbury, NC 28144
    Back to Search
    Property profile & analytics

    1007 Lexington Ave Salisbury, NC 28144

    View on Map
    • Warehouses
    • 96,558 SF
    • 3.66 lot acres
    For Sale
    $2,900,000
    View Listing →
    Lexington Ave Warehouse - Salisbury, NC For Sale
    $2,900,000
    96,588 SF

    Lexington Ave Warehouse - Salisbury, NC

    Spacious Warehouse, I-85 Access, High Ceilings

    1007 Lexington Ave, Salisbury, NC 28144
    View Listing
    Property ID
    US53-3315484
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Furnish My Place, LLC - LVP and Carpet Manufacturer / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 1007 Lexington Ave

    Year built
    1920
    Lot size
    3.66 lot acres
    Property size
    96,558 SF
    Property type
    Warehouses
    APN
    011 376
    APU
    11376

    Description

    This exceptional 96,000-square-foot industrial property, located at 1007 Lexington Ave, Salisbury, NC 28144, presents a significant opportunity. The single-tenant building, constructed in 1920, boasts a Class C rating and features a 13'9" ceiling height. The property includes four loading docks and two drive-in doors, ensuring efficient material handling. Currently, 25,000 square feet is available. Utilities are provided by Duke Energy and Piedmont Natural Gas. The building is situated on E. Steele Street and zoned L1, offering convenient access to I-85, placing it strategically between Charlotte and Greensboro, NC, within the Charlotte Metro submarket cluster of Rowan County. The property's size and features make it ideal for various manufacturing, warehouse, and distribution operations. This location benefits from being in one of the fastest-growing regions of the Southeast. The property is comprised of one single-story building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,953,000
      Market price range: $1.95M - $5.90M
      AI Estimate
      $1,695,000
      Market price range: $1.70M - $5.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4578
    Latitude
    35.6732
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC 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
    2023
    $2,837
    $118,950
    $118,244
    $237,194
    -
    $118,950
    $118,244
    $237,194

    Comparable in this City

    • Value Estimation by Request
      3,069 SF

      228 Kerr St

      WAREHOUSE, STORAGE • 3,069 SF
      228 Kerr St, Salisbury, NC 28144
      View Details
    • Value Estimation by Request
      6,000 SF

      601 Lyon Shaw Blvd

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      601 Lyon Shaw Blvd, Salisbury, NC 28144
      View Details
    • Value Estimation by Request
      2,400 SF

      125 Yadkin Baptist Church Rd

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      125 Yadkin Baptist Church Rd, Salisbury, NC 28144
      View Details
    • Value Estimation by Request
      7,200 SF

      106 Vance Ave

      WAREHOUSE, STORAGE • 7,200 SF
      106 Vance Ave, Salisbury, NC 28144-6535
      View Details
    • Value Estimation by Request
      3,960 SF

      614 Main St

      WAREHOUSE, STORAGE • 3,960 SF
      614 Main St, Salisbury, NC 28144-3674
      View Details
    • Value Estimation
      $2,225,000
      100,000 SF

      100 Sowers Rd

      WAREHOUSE, STORAGE • 100,000 SF
      100 Sowers Rd, Salisbury, NC 28144-7782
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,961 SF

      Downtown Salisbury Retail/Warehouse Opportunity

      Retail and warehouse space in Downtown Salisbury for sale.
      211 E Innes St, Salisbury, NC 28144
      View Details
    • $1,500,000

      Prime Salisbury Medical Office Building

      Two-suite medical office, ideal location.
      605 Grove St, Salisbury, NC 28144
      View Details
    • $940,000

      Multifamily Property with Four Units

      Four-unit multifamily property available for sale.
      1134 Grady St, Salisbury, NC 28144
      View Details
    • $2,417,580

      Development Opportunity Near VA Hospital

      Prime commercial land for development with high traffic volume.
      Statesville Blvd, Salisbury, NC 28144
      View Details
    • $500,000

      5 Acres Raw Land Available

      Raw land in Industrial Park, suitable for warehouse or repair.
      Old Wilkesboro Rd, Salisbury, NC 28144
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      351,572 SF

      Salisbury Warehouse Space Available

      351,572 SF warehouse space available for lease.
      970 Long Ferry Rd, Salisbury, NC 28144
      View Details
    • Contact for pricing

      Industrial Facility Near I-85 Exit

      176,580 SF industrial space with rail access and highway frontage.
      1302 N Salisbury Ave, Salisbury, NC 28144
      View Details
    • Contact for pricing
      351,572 SF

      Industrial Facility Near I-85

      351,572 SF industrial facility with I-85 access.
      950-970 Long Ferry Rd, Salisbury, NC 28144
      View Details
    • Contact for pricing
      64,780 SF

      Salisbury Retail Space For Lease

      Prime Retail, 6,319 SF Available
      815 Innes St, Salisbury, NC 28144
      View Details
    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office space available for lease near major Salisbury hospitals.
      203 Mocksville Ave, Salisbury, NC 28144
      View Details
    • $1,104 /Mo

      Downtown Salisbury Office Space Available

      Office space in downtown Salisbury with shared amenities and parking.
      204 E Innes St, Salisbury, NC 28144
      View Details
    View Listing
    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.
    1007 Lexington Ave
    Salisbury, NC 28144
    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
    1007 Lexington Ave, Salisbury, NC, 28144
    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!