Property profile

115 Central Ave Locust, NC 28097

OFF-MARKET
Investment properties
Property ID
US53-1198805
1,456 SF 0.56 ac lot Built 1945
Entity Owned 1-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional commercial property, situated on a 0.56-acre lot at 115 N Central Avenue in Locust, North Carolina, presents a unique investment opportunity. The main building, totaling 1,458 square feet, is currently configured as an art studio with classrooms, offering versatile space adaptable to various commercial uses. A significant advantage is the inclusion of a powered outbuilding, expanding the potential uses and storage capacity. The property benefits from recent upgrades, including a roof replacement completed in February 2023 and an HVAC system replacement just two years prior, minimizing immediate maintenance concerns. Its prime location on N Central Avenue offers excellent visibility and accessibility, with the added benefit of proximity to local amenities such as Mi Fuente Fresh Mexican Grill, the Police Station, the Fire Station, and other restaurants. Accessibility features include a ramp leading to a rear deck and a designated handicapped parking space. This property is ready for immediate occupancy and presents a compelling opportunity for entrepreneurs and investors seeking a well-maintained, conveniently located commercial space in the thriving Locust community. The property's versatility and recent improvements make it an attractive option for a wide range of commercial ventures.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1945
Total area 1,456 SF
Lot 0.56 ac (24,394 SF)
Zoning code CC
APN 557503432264
UPID US53-1198805

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm

Location

115 Central Ave Locust, NC 28097-7121
Locust metro Census 930801 ALBEMARLE, NC MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2025
Last sale
$340,000
1 recorded transaction
2025
$340,000

Zoning & alternative use

CC · Locust, NC
Zoning description

CC (CD): City Center District (Conditional District) Mixed Use HC (CD): Highway Commercial District (Conditional District) Commercial RC (RC): Regional Commercial District (Conditional) Commercial LHC (CD): Light Highway…

General category CIVIC_INSTITUTIONAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 115 Central Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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