Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    128 Westlee St Shelby, NC 28150
    Back to Search
    Property profile & analytics

    128 Westlee St Shelby, NC 28150

    View on Map
    • Commercial real estate
    For Sale
    $354,375
    View Listing →
    Commercial Land with Bypass Visibility For Sale
    $354,375

    Commercial Land with Bypass Visibility

    Exceptional visibility and acreage near Shelby Bypass, prime commercial opportunity.

    128 Westlee Street #B, Shelby, NC 28150
    View Listing
    Property ID
    US53-2689385
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 128 Westlee St

    Property type
    Commercial real estate

    Description

    This exceptional commercial land parcel in Shelby, North Carolina, presents a unique investment opportunity. Located just north of the new Shelby bypass, this property offers unparalleled visibility to traffic traveling between Charlotte and Asheville. The approximately 21.54-acre parcel (subject to survey) boasts significant frontage: approximately 1,500 feet along the bypass and roughly 600 feet on Westlee Street, which conveniently connects to Highway 74 via a traffic signal. This high-traffic location ensures maximum exposure for any commercial venture. The property's size and strategic placement make it ideal for a variety of commercial developments, offering substantial potential for growth and return on investment. The asking price is $505,000. The address is 128 Westlee St, Shelby, NC 28152. This is a rare opportunity to acquire a large, highly visible commercial parcel in a rapidly growing area. Don't miss this chance to secure a prime location for your next commercial project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.644903
    Latitude
    35.297635

    Comparable in this City

    • $645,000

      Land For Sale

      Land available in Shelby, NC.
      2237 Ellis Rd, Shelby, NC 28152
      View Details
    • $35,000
      0.58 Acres

      Wooded Homesite in Shelby, NC

      0.58-acre wooded parcel for building your dream home.
      Beam Dr, Shelby, NC 28152
      View Details
    • Contact for pricing
      1.14 Acres

      Residential Lot in Boiling Springs

      1.14 acre building lot with city utilities available.
      Oak St, Shelby, NC 28152
      View Details
    • $162,000
      9.25 Acres

      9.25 Acre Wooded Building Parcel

      9.25 acre wooded parcel in Whispering Pines subdivision.
      217 Ridgewood St, Shelby, NC 28152
      View Details
    • $250,000

      Commercial Land on Highway 74

      0.57 acre commercial land with high visibility on Highway 74.
      221 W Dixon Blvd, Shelby, NC 28152
      View Details
    • Contact for pricing

      Kings Road Development Opportunity

      Nearly 4-acre GB2 zoned property with development potential.
      2302 Kings Rd, Shelby, NC 28152
      View Details

    Similar Nearby for Sale

    • $100,000

      Commercial Land Near Gardner Webb

      Commercial land near university campus with B-1 zoning.
      339 W College Ave, Shelby, NC 28152
      View Details
    • $650,000
      17.15 Acres

      Residential Lots in Shelby, NC

      Platted residential lots available near Crest Middle School.
      340 Beaver Dam Church Rd, Shelby, NC 28152
      View Details
    • $325,000
      25.00 Acres

      25 Acres Wooded Land

      25 acres of wooded land with some cleared areas.
      Ranchfield Dr, Shelby, NC 28152
      View Details
    • $325,000

      25 Acres Wooded Land

      25 acres of wooded land with some cleared areas.
      00 Ranchfield Dr, Shelby, NC 28152
      View Details
    • $3,338,500

      Commercial Land Along Dixon Blvd

      Contiguous commercial land available along a highly-trafficked corridor.
      2104 E Dixon Blvd, Shelby, NC 28152
      View Details
    • $100,000

      Land with Redevelopment Potential

      Land with existing building and redevelopment potential.
      416 S Main St, Shelby, NC 28152
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      Pending

      Shelby Manufacturing/Industrial Space Available

      Manufacturing and industrial space available for rent in Shelby.
      4401 E Dixon Blvd, Shelby, NC 28152
      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 28152
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    128 Westlee St
    Shelby, NC 28150
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    128 Westlee St, Shelby, NC, 28150
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!