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    Property profile & analytics

    1602 Main W St Locust, NC 28097-8736

    • Investment properties
    • 1,368 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimation
    $265,000
    Location Intelligence
    Property ID
    US53-1643367
    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

    • Layla Sanders - State Farm Insurance Agent / Insurance Agency / Auto Insurance Agency

    Property Details for 1602 Main W St

    Year built
    1947
    Lot size
    0.46 lot acres
    Property size
    1,368 SF
    Zone code
    OPS
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    556504705882
    APU
    556504705882

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $300,000
      6.5%
      $255,000
      7%
      $280,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $240,000
      Geo Method
      $270,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $260,000
      Retail
      $260,000
      Mixed-Use
      $260,000
      Hospitality
      $330,000
      Educational
      $285,000
      Residential Income
      $290,000
      Energy
      $255,000
      Income-Based Land
      $260,000
      Food Service
      $305,000

    Location Insight

    • Map
    • Local Demand
    City
    Locust
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.4485
    Latitude
    35.2548
    CBSA code
    10620
    CBSA name
    ALBEMARLE, NC MICROPOLITAN 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
    $2,936
    $154,836
    $114,494
    $269,330
    -
    $154,836
    $114,494
    $269,330

    Comparable in this City

    • Value Estimation
      $275,000
      1,383 SF

      301 Main W St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,383 SF
      301 Main W St, Locust, NC 28097-9706
      View Details
    • Value Estimation
      $200,000
      1,773 SF

      508 Main E St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,773 SF
      508 Main E St, Locust, NC 28097-9732
      View Details
    • Value Estimation
      $225,000
      1,248 SF

      102 Locust Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,248 SF
      102 Locust Ave, Locust, NC 28097-7217
      View Details
    • Value Estimation
      $370,000
      1,064 SF

      712 Main W St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,064 SF
      712 Main W St, Locust, NC 28097-9714
      View Details
    • Value Estimation
      $320,000
      728 SF

      1215 Main W St

      OFFICE/RESIDENTIAL (MIXED USE) • 728 SF
      1215 Main W St, Locust, NC 28097-8734
      View Details
    • Value Estimation
      $355,000
      3,602 SF

      302 Central Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,602 SF
      302 Central Ave, Locust, NC 28097-7141
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      4,533 SF

      Locust Office Building For Lease

      Three new units, 4,533 SF total. Ideal for various businesses.
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      View Details
    • $28 SF/Yr
      6,303 SF

      Locust Office Space For Rent

      6,303 square foot office space available for lease.
      103 Stanly Pkwy, Locust, NC 28097
      View Details
    • $2,000,000
      9,600 SF

      New Construction Warehouse/Office Building

      New 9,600 SF warehouse/office building for rent.
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      View Details
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    1602 Main W St
    Locust, NC 28097-8736
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    Realmo Value Estimation

    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.

    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.

    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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