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

    111 Innes St Salisbury, NC 28144-5007

    • Retail space
    • 5,606 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1102883
    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

    • Skinny Wheels Pedals and Pints / Bicycle Shop / Bicycle Repair Shop

    Property Details for 111 Innes St

    Year built
    1900
    Lot size
    0.14 lot acres
    Property size
    5,606 SF
    Zone code
    B5
    Property type
    Retail space
    APN
    105521
    APU
    105521

    Description

    This exceptional mixed-use property, located at 111 E Innes Street in Salisbury, NC's historic downtown, presents a compelling investment opportunity. The 11,138 square foot building sits on a 0.14-acre lot and boasts seven high-quality spaces: a ground-floor restaurant, two ground-floor retail units separated by a foyer with double-door entry and showroom-quality windows, and four second-floor apartments. Built circa 1900s, this meticulously maintained property comprises two full-brick structures, divided by contrasting pilasters and featuring EDPM roofs. The building's striking main facade is highlighted by six pairs of tall arched windows and decorative gabled pediments. Its prime location in the heart of Salisbury's historic district, listed on the National Registry, ensures high visibility, with an average daily traffic count of 18,000 vehicles (NCDOT data). The property benefits from its proximity to a variety of thriving businesses, restaurants, services, and Bell Tower Green park, and is conveniently located just one mile from I-85 exit 76. The building was restored according to National Park Service Historic Guidelines. The property offers an impressive rental income stream, a mid-6% capitalization rate, very low vacancy, and a solid rental history, making it an attractive investment for discerning buyers. Addresses encompassed are 107-117 East Innes Street.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $390,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4697
    Latitude
    35.6668
    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
    $3,175
    $140,760
    $290,627
    $431,387
    -
    $140,760
    $290,627
    $431,387

    Comparable in this City

    • Value Estimation
      $250,000
      2,442 SF

      400 Long St

      RETAIL STORES (PERSONAL SERVICES) • 2,442 SF
      400 Long St, Salisbury, NC 28144-5544
      View Details
    • Value Estimation
      $205,000
      2,964 SF

      723 Long Fry Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,964 SF
      723 Long Fry Rd, Salisbury, NC 28144-0549
      View Details
    • Value Estimation
      $250,000
      2,640 SF

      105 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,640 SF
      105 Main St, Salisbury, NC 28144-4360
      View Details
    • Value Estimation
      $315,000
      1,800 SF

      1965 Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      1965 Rdg Rd, Salisbury, NC 28144-8872
      View Details
    • Value Estimation
      $205,000
      2,268 SF

      604 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,268 SF
      604 Main St, Salisbury, NC 28144-3644
      View Details
    • Value Estimation
      $290,000
      1,520 SF

      117 Innes St

      RETAIL STORES (PERSONAL SERVICES) • 1,520 SF
      117 Innes St, Salisbury, NC 28144-4338
      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.
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      Downtown Salisbury Storefront

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      Salisbury Retail Center - High ROI

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      Salisbury Office Building - Great ROI

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    Similar Nearby for Lease

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      64,780 SF

      Salisbury Retail Space For Lease

      Prime Retail, 6,319 SF Available
      815 Innes St, Salisbury, NC 28144
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      64,780 SF

      Innes Street Retail Center

      Salisbury, NC Retail Space Available
      815 Innes St, Salisbury, NC 28144
      View Details
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      6,100 SF

      Downtown Salisbury Restaurant Space

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

      Freestanding Restaurant with Drive-Thru

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

      Restaurant Space in Bell Tower

      Restaurant space available in downtown Salisbury's Bell Tower Green.
      115 W Innes St, Salisbury, NC 28144
      View Details
    • Contact for pricing
      43,000 SF

      Prime Salisbury Executive Office Space

      43,000 SF Office Building - Available Now
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      View Details
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    Salisbury, NC 28144-5007
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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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