Property summary
This exceptional commercial property, located at 1303 S Salisbury Avenue in Spencer, NC, presents a unique investment opportunity. Situated on a 0.66-acre lot, the building boasts excellent road frontage and high visibility, ensuring significant exposure for any business. Its strategic location between Charlotte and Winston-Salem, with easy access to I-85, provides unparalleled convenience and accessibility to a large customer base. The property is zoned Hwy Business, offering flexibility for a wide range of commercial uses. The building's history demonstrates its adaptability, having previously served as an auto parts store, auto service center, boat sales and service facility, pawn shop, antique/consignment retail space, and most recently, a Meals on Wheels distribution center. Currently, the property has month-to-month tenants with five-year lease agreements in place. These tenants have expressed a desire to remain, but understand a 60-day notice period is required should the new owner choose not to renew their leases. This presents a compelling opportunity for a new owner to either continue with existing tenants or implement their own vision for the space. The asking price is $479,000. This property offers significant potential for both immediate income generation and long-term growth. Don't miss this chance to acquire a versatile and strategically located commercial property in a thriving area.
Property profile
VerifiedCap rate & NOI
Current use
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Auto Repair Shop Vehicle Inspection Center
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
HB · Spencer, NCZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HB in Spencer, NC.
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Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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