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    Property profile & analytics

    2232 Main St Lincolnton, NC 28092

    • Car washes
    • 1,960 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2021
    $190,000
    Value Estimations
    $150,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0659990
    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

    • Car washes

    Property Details for 2232 Main St

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.39 lot acres
    Property size
    1,960 SF
    Zone code
    G-B
    Property type
    Car washes
    APN
    1310
    APU
    1310

    Description

    This exceptional 1,960-square-foot quick-service restaurant/fast-food property is situated on a highly visible 0.39-acre lot at 2232 E Main St in Lincolnton, North Carolina (28092). Built in 1980, the property boasts a prime location on one of Lincoln County's busiest streets, enjoying an impressive average daily traffic count of 28,000 vehicles, ensuring maximum exposure. The property's G-B zoning permits a variety of retail uses. Its convenient location is approximately half a mile from Hwy 321 and is surrounded by complementary businesses including grocery stores, banks, and other popular retailers. This presents a unique opportunity for a developer or existing business seeking a high-visibility location with significant foot and vehicle traffic. The asking price is $415,000, translating to $211.73 per square foot. The property is not subject to a ground lease. The APN is 01310. This is an excellent investment opportunity in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $145,000
      ML approach
      $175,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $200,000
      Market price range: $71.9k - $240k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincolnton
    County
    Lincoln
    State
    North Carolina
    Longitude
    -81.2169
    Latitude
    35.4789
    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
    $2,665
    $144,750
    $109,989
    $254,739
    -
    $144,750
    $109,989
    $254,739

    Comparable in this City

    • Value Estimation
      $245,000
      2,984 SF

      2210 Hartman St

      CAR WASH - AUTOMATED • 2,984 SF
      2210 Hartman St, Lincolnton, NC 28092-4280
      View Details
    • Value Estimation
      $225,000
      1,492 SF

      124 Lentz Dr

      CAR WASH • 1,492 SF
      124 Lentz Dr, Lincolnton, NC 28092
      View Details
    • Value Estimation
      $270,000
      2,201 SF

      1421 Main St

      CAR WASH - AUTOMATED • 2,201 SF
      1421 Main St, Lincolnton, NC 28092-3996
      View Details
    • Value Estimation
      $240,000
      1,800 SF

      614 Main St

      CAR WASH • 1,800 SF
      614 Main St, Lincolnton, NC 28092-3412
      View Details
    • Value Estimation
      $240,000
      1,250 SF

      129 Taswell Ln

      AUTO REPAIR, GARAGE • 1,250 SF
      129 Taswell Ln, Lincolnton, NC 28092-9219
      View Details
    • Value Estimation
      $55,000
      2,236 SF

      609 Flint St

      AUTO REPAIR, GARAGE • 2,236 SF
      609 Flint St, Lincolnton, NC 28092-3612
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Property in Lincolnton

      Spacious commercial property suitable for retail, warehouse, or industrial operations.
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    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in Lincolnton Center

      Retail space available in Food Lion anchored shopping center.
      200-220 Stanford Rd, Lincolnton, NC 28092
      View Details
    • $7 SF/Yr
      1,000 SF

      Retail Space on Hwy 321

      Retail units for lease in high-traffic business corridor.
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      View Details
    • $14 SF/Yr
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      Lincolnton Office Space for Lease

      Downtown Lincolnton Office Suites Available
      212 Main St, Lincolnton, NC 28092
      View Details
    • Contact for pricing
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      Retail Space in Lincolnton, NC

      Retail space available in Food Lion anchored shopping center.
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      View Details
    • Contact for pricing
      172,200 SF

      Spacious Warehouse with Extensive Features

      Large warehouse with ample parking, loading docks, and modern amenities.
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      View Details
    • $1,350 /Mo

      New Two-Bedroom Duplex for Rent

      Never-lived-in 2-bedroom, 1-bath duplex with modern amenities in Lincolnton.
      3291 Paul Elmore Rd, Lincolnton, NC 28092
      View Details
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    Lincolnton, NC 28092
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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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