Property profile

121 Main St Salisbury, NC 28144

OFF-MARKET
Retail space
Property ID
US53-1321579
7,548 SF 0.12 ac lot Built 1900
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 121 S Main Street in Salisbury, North Carolina, presents a unique investment opportunity. The 5,194 square foot building, situated on a 0.23-acre lot, underwent a complete renovation in 2020, boasting a stylish French-inspired design. The main level is currently leased to the upscale Carpe Vinum 121 restaurant, with lease renewal options available. The building features a new rubber roof with added insulation, two upstairs heat pumps, updated plumbing, new flooring on the upper level, and three new half-baths upstairs, in addition to two on the main level. All fixtures have been replaced throughout. The vacant upper level offers stunning street views and is adaptable for various uses, including office space or conversion into residential apartments. A significant advantage is the inclusion of a private parking lot with 11 spaces and a gated courtyard, enhancing the property's appeal and functionality. The property's prime downtown location and recent renovations make it an attractive investment in a thriving North Carolina city. The zip code is 28144. This is a rare opportunity to acquire a versatile commercial property with strong existing tenancy and significant upside potential.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1900
Total area 7,548 SF
Lot 0.12 ac (5,314 SF)
Zoning code B5
APN 105483
UPID US53-1321579

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
  • Restaurant

Location

121 Main St Salisbury, NC 28144-4304
Salisbury metro Census 52000 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$440k
CAP Approach CAP
by Request
Comparable Approach Comparable
$634k
Blend (final) Blend
$385k

Owner & transaction history

since 2024
Last sale
$600,000
7 recorded transactions
2024
$765,000
2022
Price N/A
2022
$600,000
2017
$200,000
2017
$210,895
1969
Price N/A
1969
Price N/A

Zoning & alternative use

B5 · Salisbury, NC
Top alternative use upside
Restaurant $905,000 +73.3%
Office building $865,000 +65.6%

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
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