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    Property profile & analytics

    1233 Franklin Blvd Gastonia, NC 28052-3738

    • Retail space
    • 7,500 SF
    • 1.18 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2022
    $700,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1502216
    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

    • Carolina Renovation Warehouse / Discount Store
    • Carroll-Ann Furniture / Furniture & Home Goods / Home Decor Store

    Property Details for 1233 Franklin Blvd

    Year built
    1974
    Lot size
    1.18 lot acres
    Property size
    7,500 SF
    Zone code
    STOR1
    Property type
    Retail space
    APN
    106376
    APU
    106376

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $390,000
      ML approach
      $440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $552,000
      Market price range: $248k - $553k
      AI Estimate
      $561,000
      Market price range: $171k - $561k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $360,000
      Current use
      RESTAURANT
      $665,000
      Change: +84% Conversion: Easy
      COMMERCIAL (GENERAL)
      $620,000
      Change: +71% Conversion: Easy
      AUTO REPAIR, GARAGE
      $610,000
      Change: +69% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.2024
    Latitude
    35.261
    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
    $6,791
    $239,800
    $395,450
    $635,250
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,280 SF

      5503 Lewis Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,280 SF
      5503 Lewis Rd, Gastonia, NC 28052-9237
      View Details
    • Value Estimation
      $2,145,000
      64,211 SF

      1005 Linwood Rd

      RETAIL STORES (PERSONAL SERVICES) • 64,211 SF
      1005 Linwood Rd, Gastonia, NC 28052-0907
      View Details
    • Value Estimation by Request
      1,400 SF

      231 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      231 Main Ave, Gastonia, NC 28052-4142
      View Details
    • Value Estimation by Request
      3,096 SF

      134 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,096 SF
      134 Main Ave, Gastonia, NC 28052-4110
      View Details
    • Value Estimation
      $940,000
      10,716 SF

      174 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,716 SF
      174 Main Ave, Gastonia, NC 28052-2306
      View Details
    • Value Estimation by Request
      2,784 SF

      1108 Franklin Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,784 SF
      1108 Franklin Blvd, Gastonia, NC 28052-3737
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Gastonia Commercial Building For Sale

      8,000 sq ft commercial building in Gastonia, North Carolina.
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    • $2,000,000
      11,200 SF

      Former Walgreens Retail Opportunity

      Freestanding building with drive-thru in high-traffic location.
      110 W Garrison Blvd, Gastonia, NC 28052
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    • New
      $750,000
      4,656 SF

      Gastonia Commercial Development Package

      Five lots with two buildings in a growing Gastonia area.
      1114 W Franklin Blvd W, Gastonia, NC 28052
      View Details
    • $1,200,000
      0.08 Acres

      Gastonia Live Music Venue

      Fully operational live music and event venue in Gastonia.
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      2105 N Chester St, Gastonia, NC 28052

      Commercial land
      2105 N Chester St, Gastonia, NC 28052
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    • $3,750,000

      Former Bi-Lo Shopping Center

      46,200 SF shopping center outside of Charlotte, North Carolina.
      1925 Davis Park Rd, Gastonia, NC 28052
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    Similar Nearby for Lease

    • Contact for pricing
      15,506 SF

      Gastonia Retail/Office Space Available

      Versatile spaces suitable for retail, office, fitness, or medical use.
      230-284 E Garrison Blvd, Gastonia, NC 28052
      View Details
    • $2,900 /Mo
      8,276 SF

      Commercial Property Near FUSE District

      Freestanding commercial property near Gastonia's FUSE district, adaptable for various uses.
      1001 W Franklin Blvd, Gastonia, NC 28052
      View Details
    • $4,000 /Mo
      9,583 SF

      Retail Space in Historic Gastonia

      Prime retail location in downtown Gastonia, North Carolina.
      141 W Main Ave, Gastonia, NC 28052
      View Details
    • Contact for pricing
      1,675 SF

      Retail Space on E Franklin

      Retail space available for rent with high traffic visibility.
      806 E Franklin Blvd, Gastonia, NC 28052
      View Details
    • Contact for pricing
      2,382 SF

      Downtown Gastonia Retail Space

      2,382 SF retail space in downtown Gastonia, NC.
      350 W Main Ave, Gastonia, NC 28052
      View Details
    • Contact for pricing

      Retail Space in Gastonia Center

      Retail space available in revitalized Gastonia shopping center.
      2549 W Franklin Blvd, Gastonia, NC 28052
      View Details
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    Gastonia, NC 28052-3738
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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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