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

    1011 Folger Dr Statesville, NC 28625-6274

    • Office buildings
    • 22,248 SF
    • 5.19 lot acres
    OFF-MARKET
    Value Estimations
    $3,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1109212
    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

    • Randy Marion Mitsubishi / Car Dealer / Used Car Dealer

    Property Details for 1011 Folger Dr

    Year built
    1975
    Construction
    STEEL FRAME
    Lot size
    5.19 lot acres
    Property size
    22,248 SF
    Zone code
    B-4
    Property type
    Office buildings
    APN
    4744-73-5397.000
    APU
    4744735397000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,816,000
      Market price range: $1.24M - $3.58M
      AI Estimate
      $2,950,000
      Market price range: $1.09M - $3.64M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,260,000
      Current use
      MEDICAL BUILDING
      $4,340,000
      Change: +92% Conversion: Easy
      RETAIL STORES
      $3,350,000
      Change: +48% Conversion: Moderate
      WAREHOUSE, STORAGE
      $2,160,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8623
    Latitude
    35.7783
    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
    $29,136
    $1,246,800
    $1,616,440
    $2,863,240
    -
    $1,246,800
    $1,616,440
    $2,863,240

    Comparable in this City

    • Value Estimation
      $920,000
      19,584 SF

      145 Auction Lnf

      OFFICE BUILDING • 19,584 SF
      145 Auction Lnf, Statesville, NC 28625-9009
      View Details
    • Value Estimation by Request
      2,198 SF

      2611 Ebony Cir

      OFFICE BUILDING • 2,198 SF
      2611 Ebony Cir, Statesville, NC 28625-6401
      View Details
    • Value Estimation
      $975,000
      6,000 SF

      536 Signal Hl Dr Ext

      OFFICE BUILDING • 6,000 SF
      536 Signal Hl Dr Ext, Statesville, NC 28625-4391
      View Details
    • Value Estimation
      $685,000
      3,875 SF

      209 Turnersburg Hwy

      OFFICE BUILDING • 3,875 SF
      209 Turnersburg Hwy, Statesville, NC 28625-2797
      View Details
    • Value Estimation
      $1,600,000
      25,327 SF

      190 Wilson Park Rd

      OFFICE BUILDING • 25,327 SF
      190 Wilson Park Rd, Statesville, NC 28625-8506
      View Details
    • Value Estimation
      $1,005,000
      24,798 SF

      1404 Industrial Dr

      OFFICE BUILDING • 24,798 SF
      1404 Industrial Dr, Statesville, NC 28625-6220
      View Details

    Similar Nearby for Sale

    • $585,000
      5.07 Acres

      Prime Statesville Office Building

      Custom-built office, 5 acres, I-40/77 access
      2294 Wilkesboro Hwy, Statesville, NC 28625
      View Details
    • $425,000
      5.88 Acres

      Statesville Office Land Investment

      5.88 Acres, Hwy 115 Frontage
      0000 Unit Tract 2, Statesville, NC 28625
      View Details
    • $425,000
      5.88 Acres

      Statesville Commercial Land - $425K

      5.88 Acres, Hwy Frontage, Zoned 0-1
      0000 Wilkesboro Hwy, Statesville, NC 28625
      View Details
    • $2,000,000
      5.83 Acres

      Statesville Commercial Land Opportunity

      Prime 5.83-acre commercial lot, I-40 visibility.
      195 Wilson Park Rd, Statesville, NC 28625
      View Details
    • $1,500,000
      10.82 Acres

      Statesville Retail Land Opportunity

      Prime 10.82-acre retail site in Statesville, NC
      565 Turnersburg Hwy, Statesville, NC 28625
      View Details
    • $249,900
      3,040 SF

      Prime Love Valley Retail Space

      Unique Western Town Retail Opportunity
      175 Henry Martin Trl, 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

      Statesville Drive-Thru Restaurant Opportunity

      Freestanding drive-thru restaurant space in Statesville's retail corridor.
      Statesville, NC 28625
      View Details
    • $15 SF/Yr
      40,425 SF

      Eastgate Commons Retail Space

      Last retail space; Food Lion anchored.
      3446 Broad St, Statesville, NC 28625
      View Details
    • $6 SF/Yr
      33,330 SF

      Statesville Industrial Space For Lease

      Two Warehouses, Flexible Space Available
      2460 Davie Ave, Statesville, NC 28625
      View Details
    • $5 SF/Yr
      19,858 SF

      Industrial Space Near Highway 64

      Industrial facility with highway access in the Charlotte MSA.
      2460-2472 Davie Ave, Statesville, NC 28625
      View Details
    • Contact for pricing
      10,160 SF

      Statesville Flex Space Industrial

      New 10,160 SF flex space, NC
      0 Marble Rd, Statesville, NC 28625
      View Details

    Property Visit Statistics

    • Visits by month
      2.0k
    • Visitors by month
      1.3k
    • Avg Time on site
      32 min
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    Statesville, NC 28625-6274
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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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