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

    108 W Virginia Ave, Unit Bessemer City Bessemer City, NC 28016

    • Banks
    • 4,556 SF
    • 0.08 lot acres
    For Sale
    View listing
    $349,000
    Last Sale
    Apr 06, 2022
    $125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5600920
    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

    • Banks

    Property Details for 108 W Virginia Ave

    Year built
    1941
    Lot size
    0.08 lot acres
    Property size
    4,556 SF
    Zone code
    RET01
    Property type
    Banks
    APN
    120804
    APU
    120804

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bessemer City
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.2842
    Latitude
    35.2851
    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
    2024
    $4,009
    $17,420
    $331,510
    $348,930
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,500 SF

      121 Pennsylvania Ave

      FINANCIAL BUILDING • 1,500 SF
      121 Pennsylvania Ave, Bessemer City, NC 28016-2635
      View Details
    • Value Estimation by Request
      1,956 SF

      618 Gastonia Hwy

      FINANCIAL BUILDING • 1,956 SF
      618 Gastonia Hwy, Bessemer City, NC 28016-2311
      View Details
    • Value Estimation by Request
      1,040 SF

      109 Pennsylvania Ave

      FINANCIAL BUILDING • 1,040 SF
      109 Pennsylvania Ave, Bessemer City, NC 28016-2635
      View Details
    • Value Estimation by Request
      1,176 SF

      804 Gastonia Hwy

      FINANCIAL BUILDING • 1,176 SF
      804 Gastonia Hwy, Bessemer City, NC 28016-2197
      View Details
    • Value Estimation by Request
      2,175 SF

      122 Virginia Ave

      FINANCIAL BUILDING • 2,175 SF
      122 Virginia Ave, Bessemer City, NC 28016-2373
      View Details
    • Value Estimation by Request
      1,584 SF

      321 Maine Ave

      FINANCIAL BUILDING • 1,584 SF
      321 Maine Ave, Bessemer City, NC 28016-2148
      View Details

    Similar Nearby for Sale

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      Downtown Bessemer City Income Property

      Renovated commercial building with income-producing units in downtown Bessemer City.
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      High-traffic location with office, retail, and storage potential.
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    • $1,500,000
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      Kings Mountain Highway Commercial Property

      Commercial property with warehouses, storage, and rental house.
      4239 Kings Mountain Hwy, Bessemer City, NC 28016
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    • $1,200,000
      27.86 Acres

      Kings Mountain Hwy Land - $1.2M

      27.86 Acres, I-2 Zoning, Hwy 74 Frontage
      0 Kings Mountain Hwy, Bessemer City, NC 28016
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    • $750,000
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      Industrial Land in Bessemer City

      31.02 acres of industrial land for development in Bessemer City.
      Capps Rd, Bessemer City, NC 28016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      Available industrial space with 36' clear height and ample parking.
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      View Details
    • Contact for pricing
      280,460 SF

      Southridge 85: Class A Industrial Space

      Modern Gaston County industrial space; flexible layouts available.
      150 Southridge Pkwy, Bessemer City, NC 28016
      View Details
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    Bessemer City, NC 28016
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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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