Property profile

1303 Salisbury Ave Spencer, NC 28159

OFF-MARKET
Retail space
Property ID
US53-5458396
14,960 SF 0.67 ac lot Built 1966
Entity Owned Free & Clear
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Property summary

AI-generated overview

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

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1966
Total area 14,960 SF
Lot 0.67 ac (29,011 SF)
Zoning code HB
APN 030 140
UPID US53-5458396

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
  • Auto Repair Shop Vehicle Inspection Center

Location

1303 Salisbury Ave Spencer, NC 28159-1918
Spencer metro Census 50700 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2026
Last sale
$350,000
5 recorded transactions
2026
$350,000
2018
Price N/A
2014
Price N/A
2008
$175,000
1969
Price N/A

Zoning & alternative use

HB · Spencer, NC

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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