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    1935 Jake Alexander W Blvd Salisbury, NC 28147-1164
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    Property profile & analytics

    1935 Jake Alexander W Blvd, Salisbury, NC 28147-1164

    View on Map
    • Super regional malls
    • 141,593 SF
    • 25.55 lot acres
    Off-Market
    Property ID
    US53-1525725
    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
    $1,505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Closet 2 / Discount Store / (Bike/Boat/Book/etc) Store
    • Bath & Body Works / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Badcock Home Furniture &more / Building Supply / Electrical Service
    • Big Lots / Department Store
    • Teri Kidz Consignment / Discount Store / (Bike/Boat/Book/etc) Store

    Property Details for 1935 Jake Alexander W Blvd

    Year built
    1985
    Lot size
    25.55 lot acres
    Zone code
    HB:HIGHWAY BUSINESS
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    331 078
    APU
    331078

    Description

    This exceptional 1.05-acre commercial land parcel presents a unique investment opportunity in Salisbury, North Carolina. Located at 1935 Jake Alexander Blvd W, this single-tenant site boasts a highly visible position fronting Highway 60 (also known as Statesville Boulevard), ensuring maximum exposure for any development. The property is zoned Highway Business (HB), allowing for a wide range of commercial uses. This is the last remaining outparcel available at the Salisbury Mall, offering a rare chance to capitalize on a prime location within an established commercial area. The land is currently raw and ready for development, nestled between two attractively landscaped businesses in the West End Plaza, providing a desirable and aesthetically pleasing setting. Situated in Rowan County, this property offers easy access to major transportation routes and a thriving local market. Its strategic location and zoning make it ideal for a variety of commercial ventures. The 28147 zip code further underscores its accessibility and desirability. This is an exceptional opportunity to acquire a highly visible and well-located commercial property in a growing area. Contact us today to learn more about this exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $945,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,065,000
      Market price range: $2.07M - $4.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.5152
    Latitude
    35.6921
    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
    $74,592
    $2,929,895
    $3,306,934
    $6,236,829
    -
    $2,929,895
    $3,306,934
    $6,236,829

    Comparable in this City

    • Value Estimation by Request
      8,832 SF

      1361 Klumac Rd

      SHOPPING CENTER, STRIP CENTER
      1361 Klumac Rd, Salisbury, NC 28147-9086
      View Details
    • Value Estimation
      $650,000
      40,772 SF

      2141 Statesville Blvd

      SHOPPING CENTER, STRIP CENTER
      2141 Statesville Blvd, Salisbury, NC 28147-1417
      View Details
    • Value Estimation by Request
      11,700 SF

      722 Jake Alexander W Blvd

      SHOPPING CENTER, STRIP CENTER
      722 Jake Alexander W Blvd, Salisbury, NC 28147-1221
      View Details
    • Value Estimation by Request
      9,343 SF

      2112 Mooresville Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      2112 Mooresville Rd, Salisbury, NC 28147-8815
      View Details
    • Value Estimation
      $7,295,000
      81,412 SF

      2102 Statesville Blvd

      SHOPPING CENTER, STRIP CENTER
      2102 Statesville Blvd, Salisbury, NC 28147-1410
      View Details
    • Value Estimation by Request
      10,500 SF

      475 Jake Alexander W Blvd

      SHOPPING CENTER, STRIP CENTER
      475 Jake Alexander W Blvd, Salisbury, NC 28147-1420
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      79,732 SF

      Grocery-Anchored Shopping Center For Sale

      79,732 SF shopping center anchored by Food Lion.
      2096-2138 Statesville Blvd, Salisbury, NC 28147
      View Details
    • Contact for pricing
      10,908 SF

      Freestanding Parachute Plasma Investment Property

      NNN leased Parachute Plasma investment property with over 9 years remaining.
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    • $775,000

      Storage Facility with Commercial Space

      Renovated storage facility with commercial space on Highway 150.
      1812 Mooresville Rd, Salisbury, NC 28147
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    • Contact for pricing

      Commercial Space on Highway 29

      9600 sqft commercial space with warehouse and office/retail areas.
      4055 S Main St, Salisbury, NC 28147
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    • New
      $900,000
      9,000 SF

      Salisbury Industrial Warehouse with Large Lot

      9,000 SF industrial warehouse with oversized doors and large lot.
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      Versatile Commercial Property on Main

      3.56-acre commercial property on South Main Street in Salisbury.
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land on Jake Alexander

      Highly traveled commercial land for rent near I-85.
      000 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • New
      $3,000 /Mo
      464,785 SF

      Office Space For Rent

      Office space available on a high-traffic road in Salisbury, NC.
      1525 W Jake Alexander Blvd, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Industrial Building For Lease

      Industrial building with 39,261 square feet available for lease.
      245 Peach Orchard Rd, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Proposed Industrial Development in Rowan

      293,918 SF industrial space for lease near I-85.
      505 Grace Church Rd, Salisbury, NC 28147
      View Details
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    Salisbury, NC 28147-1164
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    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
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