Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1509 Innes St Salisbury, NC 28146-6018

    • Grocery and convenience stores
    • 5,000 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0079752
    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

    • Citgo / Gas Station
    • Dr. Timothy L. Dagenhart, MD / Family Practice Physician
    • Taylor Lloyd J / Physician Assistant
    • CoinGenie Bitcoin ATM / Atm
    • Exxon / Gas Station

    Property Details for 1509 Innes St

    Year built
    1976
    Lot size
    0.84 lot acres
    Property size
    5,000 SF
    Zone code
    B6
    Property type
    Grocery and convenience stores
    APN
    059 101
    APU
    59101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4572
    Latitude
    35.6533
    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
    2023
    $12,418
    $689,044
    $349,241
    $1,038,285
    -
    $689,044
    $349,241
    $1,038,285

    Comparable in this City

    • Value Estimation
      $430,000
      18,792 SF

      115 Avalon Dr

      GROCERY, SUPERMARKET • 18,792 SF
      115 Avalon Dr, Salisbury, NC 28146-7001
      View Details
    • Value Estimation
      $340,000
      6,125 SF

      1520 Jake Alexander S Blvd

      CONVENIENCE STORE • 6,125 SF
      1520 Jake Alexander S Blvd, Salisbury, NC 28146-8360
      View Details
    • Value Estimation
      $1,520,000
      4,699 SF

      9120 Bringle Fry Rd

      CONVENIENCE STORE • 4,699 SF
      9120 Bringle Fry Rd, Salisbury, NC 28146-9543
      View Details
    • Value Estimation
      $290,000
      2,000 SF

      5035 Faith Rd

      CONVENIENCE STORE • 2,000 SF
      5035 Faith Rd, Salisbury, NC 28146-8502
      View Details
    • Value Estimation
      $215,000
      3,276 SF

      3005 Nc 152nd Hwy

      CONVENIENCE STORE • 3,276 SF
      3005 Nc 152nd Hwy, Salisbury, NC 28146
      View Details
    • Value Estimation
      $250,000
      4,072 SF

      1518 Innes St

      CONVENIENCE STORE • 4,072 SF
      1518 Innes St, Salisbury, NC 28146-6009
      View Details

    Similar Nearby for Sale

    • $700,000
      1.06 Acres

      Established Business with Expansion Potential

      Turnkey boat repair business with additional buildings and residential home.
      6415 Bringle Ferry Rd, Salisbury, NC 28146
      View Details
    • $3,200,000
      12.00 Acres

      Waterfront Restaurant and Event Venue

      Commercial tract with restaurant, event venue, and rental property.
      257 Boat Club Ln, Salisbury, NC 28146
      View Details
    • Contact for pricing
      2.56 Acres

      Prime Salisbury Commercial Land

      2.56 Acres, Hwy Business Zoning, High Visibility
      629 Julian Rd, Salisbury, NC 28146
      View Details
    • $69,900
      0.49 Acres

      Cleared Homesite in Sunset Pointe

      Cleared 0.49-acre homesite in gated lake community.
      1925 Marina Pointe Rd, Salisbury, NC 28146
      View Details
    • $1,800,000

      27 Acres with I-85 Frontage

      27 acres with I-85 frontage in Rowan County.
      272 Hurst Dr, Salisbury, NC 28146
      View Details
    • Contact for pricing
      0.45 Acres

      Double Lot Near High Rock

      Two lots near High Rock Lake with community amenities.
      Playground Ln, Salisbury, NC 28146
      View Details

    Similar Nearby for Lease

    • New
      $2,900 /Mo
      21,344 SF

      Versatile Commercial Building in Salisbury

      Well-located commercial building suited for service-based and flex users.
      2065 Lower Palmer Rd, Salisbury, NC 28146
      View Details
    • $3,200 /Mo
      30,928 SF

      Retail Space Near I-85 Exit

      Retail space available in high-traffic Salisbury shopping center.
      1301 Innes St, Salisbury, NC 28146
      View Details
    • $14 SF/Yr
      4,965 SF

      Prime Retail/Medical Office Space

      High-traffic Salisbury location ideal for retail or medical office.
      1406 W Innes St, Salisbury, NC 28146
      View Details
    • $500 /Mo
      27,007 SF

      Renovated Office Suites with Amenities

      Newly renovated office suites with included utilities and high-speed internet.
      1121 Old Concord Rd, Salisbury, NC 28146
      View Details
    • Contact for pricing
      472,890 SF

      New Warehouse Space Available

      472,890 SF warehouse space built in 2024 for lease.
      1415 Peeler Rd, Salisbury, NC 28146
      View Details

    Property Visit Statistics

    • Visits by month
      4.4k
    • Visitors by month
      3.6k
    • Avg Time on site
      26 min
    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.
    1509 Innes St
    Salisbury, NC 28146-6018
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.