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

    116 Frst Park Dr Shelby, NC 28150-8408

    • Warehouses
    • 2,000 SF
    • 10.82 lot acres
    OFF-MARKET
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    6.5%
    Warehouses
    Location Intelligence
    Property ID
    US53-2815144
    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

    • Warehouses

    Property Details for 116 Frst Park Dr

    Year built
    1995
    Lot size
    10.82 lot acres
    Property size
    2,000 SF
    Zone code
    R20
    Property type
    Warehouses
    APN
    24822
    APU
    24822

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $245,000
      6.5%
      $225,000
      7%
      $210,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $164,000
      Market price range: $54.0k - $164k
      AI Estimate
      $150,000
      Market price range: $49.4k - $150k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $275,000
      OFFICE BUILDING
      $260,000
      AUTO REPAIR, GARAGE
      $245,000
      COMMERCIAL (GENERAL)
      $220,000
      RETAIL STORES
      $140,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.5106
    Latitude
    35.3226
    CBSA code
    43140
    CBSA name
    SHELBY, NC MICROPOLITAN 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
    $1,638
    $51,215
    $151,642
    $202,857
    -
    $51,215
    $151,642
    $202,857

    Comparable in this City

    • Value Estimation
      $210,000
      1,600 SF

      604 Post Rd

      WAREHOUSE, STORAGE • 1,600 SF
      604 Post Rd, Shelby, NC 28150
      View Details
    • Value Estimation
      $130,000
      130 SF

      100 Justice Pl

      WAREHOUSE, STORAGE • 130 SF
      100 Justice Pl, Shelby, NC 28150-4638
      View Details
    • Value Estimation
      $275,000
      10,080 SF

      1000 Marion St

      WAREHOUSE, STORAGE • 10,080 SF
      1000 Marion St, Shelby, NC 28150-4755
      View Details
    • Value Estimation
      $175,000
      4,912 SF

      310 Market St

      WAREHOUSE, STORAGE • 4,912 SF
      310 Market St, Shelby, NC 28150-5372
      View Details
    • Value Estimation
      $205,000
      6,200 SF

      Martin St

      WAREHOUSE, STORAGE • 6,200 SF
      Martin St, Shelby, NC 28150
      View Details
    • Value Estimation
      $215,000
      4,500 SF

      919 Marion St

      WAREHOUSE, STORAGE • 4,500 SF
      919 Marion St, Shelby, NC 28150
      View Details

    Similar Nearby for Sale

    • New
      $975,000
      0.97 Acres

      Shelby Office/Warehouse on Hwy 18N

      Office and warehouse space with roll-up door on 0.97 acres.
      1740 Fallston Rd, Shelby, NC 28150
      View Details
    • $399,500
      3,800 SF

      Shop Space with Fenced Acreage

      Versatile shop space with fenced acreage, convenient location, and key features.
      1028 Washburn Switch Rd, Shelby, NC 28150
      View Details
    • $113,808

      Commercial Land in Premier Office

      Restricted development land suitable for medical office use.
      103 Life Enrichment Blvd, Shelby, NC 28150
      View Details
    • $150,000
      6.81 Acres

      Land in Shelby, North Carolina

      Almost 7 acres of land ready for new construction.
      1223 Yarn Mill Rd, Shelby, NC 28150
      View Details
    • $130,500
      Pending

      Shelby, NC Land Available

      8.6 acre portion of parent parcel in Shelby city limits.
      W Randolph Rd, Shelby, NC 28150
      View Details
    • $35,000
      Pending

      Acre Lot in Shelby, NC

      1.004 acre lot with no restrictions in Cleveland County.
      4245 Fallston Rd, Shelby, NC 28150
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,673 SF

      Prime Retail Space, High Traffic Area

      Freestanding Drug Store, 14,673 SF, 1.52 Acres
      1170 Marion St, Shelby, NC 28150
      View Details
    • Contact for pricing
      8,500 SF

      Shelby Retail Space: High Visibility

      Prime Shelby storefront, 7,000 sq ft available, ample parking.
      821 Lafayette St, Shelby, NC 28150
      View Details
    • $330,000
      2,073 SF

      Retail Space in Shelby, NC

      Retail space available for lease in Shelby, North Carolina.
      625 S Lafayette St, Shelby, NC 28150
      View Details
    • $6 SF/Yr
      13,516 SF

      Retail Space in Shelby, NC

      Retail property available for lease in Shelby, North Carolina.
      1404 S Lafayette St, Shelby, NC 28150
      View Details
    • $900,000
      2,970 SF

      Retail Space in Shelby, NC

      Retail property available for lease in Shelby, North Carolina.
      1198 Wyke Rd, Shelby, NC 28150
      View Details
    • $8 SF/Yr
      6,249 SF

      Shelby, NC Office Space for Lease

      Flexible Workspaces in Prime Location
      222 Lafayette St, Shelby, NC 28150
      View Details
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    Shelby, NC 28150-8408
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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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