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

    1030 Freeland Dr Salisbury, NC 28144-5175

    • Strip malls
    • 10,842 SF
    • 3.34 lot acres
    OFF-MARKET
    Last Sale
    May 19, 2025
    $900,500
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    7.3%
    Strip malls
    Location Intelligence
    Property ID
    US53-3288559
    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

    • Patel Nirav DDS / Dentist
    • DentalWorks & Orthodontics Salisbury / Dentist / Dental Implants Periodontist
    • Dental Works: Simoncic Stefan DDS / Dentist
    • Dental Works: Rivers Andrew DDS / Dentist
    • Papa John's Pizza / Pizza Restaurant

    Property Details for 1030 Freeland Dr

    Year built
    2007
    Lot size
    3.34 lot acres
    Property size
    10,842 SF
    Zone code
    HB:HIGHWAY BUSINESS
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    059A083
    APU
    059A083

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $855,000
      ML approach
      $755,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,365,000
      OFFICE BUILDING
      $1,360,000
      MEDICAL BUILDING
      $1,015,000
      RESTAURANT
      $1,010,000
      RETAIL STORES
      $825,000
      AUTO REPAIR, GARAGE
      $735,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4635
    Latitude
    35.6576
    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
    $50,137
    $2,059,702
    $2,132,316
    $4,192,018
    -
    $2,059,702
    $2,132,316
    $4,192,018

    Comparable in this City

    • Value Estimation
      $565,000
      44,113 SF

      1700 Innes St

      SHOPPING CENTER, STRIP CENTER • 44,113 SF
      1700 Innes St, Salisbury, NC 28144-2552
      View Details
    • Value Estimation
      $255,000
      10,880 SF

      1628 Innes St

      SHOPPING CENTER, STRIP CENTER • 10,880 SF
      1628 Innes St, Salisbury, NC 28144-2508
      View Details
    • Value Estimation
      $300,000
      9,950 SF

      130 Kerr St

      SHOPPING CENTER, STRIP CENTER • 9,950 SF
      130 Kerr St, Salisbury, NC 28144-4454
      View Details
    • Value Estimation
      $1,980,000
      86,279 SF

      815 Innes St

      WHOLESALE OUTLET, DISCOUNT STORE • 86,279 SF
      815 Innes St, Salisbury, NC 28144-4625
      View Details
    • Value Estimation
      $310,000
      10,328 SF

      322 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 10,328 SF
      322 Main St, Salisbury, NC 28144-4946
      View Details
    • Value Estimation
      $325,000
      16,446 SF

      105 Mooresville Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 16,446 SF
      105 Mooresville Rd, Salisbury, NC 28144
      View Details

    Similar Nearby for Sale

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      Salisbury Retail Center - High ROI

      12,304 SF Retail Center, 4.35 Acres
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      View Details
    • Contact for pricing
      8,961 SF

      Downtown Salisbury Retail/Warehouse Opportunity

      Retail and warehouse space in Downtown Salisbury for sale.
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    • $450,000
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      Versatile commercial building in historic downtown Salisbury with ample parking.
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    • $850,000
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      Historic building, prime retail location.
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      16,348 SF

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    • $450,000
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      Salisbury Office Building - Great ROI

      Fully occupied, high-return office building.
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    Similar Nearby for Lease

    • 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
      64,780 SF

      Innes Street Retail Center

      Salisbury, NC Retail Space Available
      815 Innes St, Salisbury, NC 28144
      View Details
    • Contact for pricing
      6,100 SF

      Downtown Salisbury Restaurant Space

      Prime location, 6100 sq ft, redevelopment opportunity.
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      View Details
    • Contact for pricing

      Freestanding Restaurant with Drive-Thru

      Second-generation restaurant with drive-thru, high visibility, and traffic.
      Salisbury, NC 28144
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    • Contact for pricing
      6,100 SF

      Restaurant Space in Bell Tower

      Restaurant space available in downtown Salisbury's Bell Tower Green.
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      View Details
    • Contact for pricing
      43,000 SF

      Prime Salisbury Executive Office Space

      43,000 SF Office Building - Available Now
      815 Innes St, Salisbury, NC 28144
      View Details

    Property Visit Statistics

    • Visits by month
      3.5k
    • Visitors by month
      3.1k
    • Avg Time on site
      13 min
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    Salisbury, NC 28144-5175
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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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