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    2327 Shelton Ave Statesville, NC 28677
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    Property profile & analytics

    2327 Shelton Ave, Statesville, NC 28677

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    • Strip malls
    • 11,460 SF
    • 2.72 lot acres
    For Sale
    $460,000
    View Listing →
    Statesville Strip Mall For Sale For Sale
    $460,000

    Statesville Strip Mall For Sale

    Strip mall in prime location with high road frontage.

    2327 Shelton Avenue, Statesville, NC 28677
    View Listing
    Property ID
    US53-3568395
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MainTain4Life LLC / Training Center / Tutoring Service
    • Carolina Kidz Club / Social Service Agency / Charitable Organization
    • CKC Depot / Nightclub / Music Venue

    Property Details for 2327 Shelton Ave

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.72 lot acres
    Zone code
    NB
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    4732-79-0210.000
    APU
    4732790210000

    Description

    This exceptional investment opportunity presents a ten-unit strip mall situated on a prominent 2.72-acre lot in Statesville, North Carolina. Boasting nearly 500 feet of road frontage along Highway 21, this property enjoys high visibility and excellent accessibility. The building features two levels, each housing five units, with the potential for expansion to eleven units. Currently, two upstairs units have been combined. Each unit is equipped with a restroom, and several include kitchens. Individual power meters ensure efficient utility management. The property utilizes a septic system and city/county water. Zoned Neighborhood Business, this versatile property allows for a wide range of commercial uses. While some repairs and updates are needed, this factor is reflected in the attractive asking price. This presents a unique chance to acquire a well-located commercial property with significant upside potential. Note that the owner is also selling an adjacent 3.58-acre parcel (MLS 4213421), offering an opportunity to expand the property's footprint. The property's location near the approved 774-acre Wakefield Village residential/retail development in Barium Springs further enhances its long-term value and growth prospects. This is a prime opportunity for investors seeking a strong return in a rapidly developing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8972
    Latitude
    35.7387
    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
    $2,267
    $163,200
    $204,650
    $367,850
    -
    $163,200
    $204,650
    $367,850

    Comparable in this City

    • Value Estimation
      $675,000
      19,690 SF

      641 Main St, Unit 673

      SHOPPING CENTER, STRIP CENTER
      641 Main St, Statesville, NC 28677
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    • Value Estimation by Request
      7,112 SF

      Main St

      SHOPPING CENTER, STRIP CENTER
      Main St, Statesville, NC 28677
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    • Value Estimation by Request
      6,188 SF

      911 Davie Ave, Unit 925

      SHOPPING CENTER, STRIP CENTER
      911 Davie Ave, Statesville, NC 28677-5301
      View Details
    • Value Estimation
      $910,000
      56,732 SF

      1380 Shelton Ave, Unit 1386

      SHOPPING CENTER, STRIP CENTER
      1380 Shelton Ave, Statesville, NC 28677-7220
      View Details
    • Value Estimation by Request
      2,575 SF

      1301 Frnt St, Unit 1307

      SHOPPING CENTER, STRIP CENTER
      1301 Frnt St, Statesville, NC 28677-5054
      View Details
    • Value Estimation by Request
      10,580 SF

      1014 Shelton Ave, Unit 1022

      SHOPPING CENTER, STRIP CENTER
      1014 Shelton Ave, Statesville, NC 28677
      View Details

    Similar Nearby for Sale

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      Statesville Strip Mall For Sale

      Strip mall in prime location with high road frontage.
      2327 Shelton Ave, Statesville, NC 28677
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      5,070 SF

      Versatile Commercial Building on Shelton

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      9,000 SF

      I-40 Visible Industrial Building

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      Downtown Statesville Retail Opportunity

      Prime Redevelopment Site, 0.89 Acres
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      Versatile Commercial Property with Income Potential

      Commercial property with multi-parcel opportunity, tenant in place through May 2026.
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      Residential Lot in Growing Area

      Generous lot with utilities, ideal for residential development or custom home.
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    Similar Nearby for Lease

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      Statesville Office & Industrial Space

      Versatile office and light industrial space near I-77 and I-40.
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      Downtown Statesville Retail Space

      Retail space available in downtown Statesville.
      105-111 S Center St, Statesville, NC 28677
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    • $800 /Mo
      16,596 SF

      Downtown Statesville Office/Retail Space

      Office or retail space for lease in downtown Statesville.
      111 S Center St, Statesville, NC 28677
      View Details
    • $2,216 /Mo
      8,276 SF

      Statesville Commercial Building For Rent

      Professional office or retail building in Statesville's Central Business District.
      120 S Tradd St, Statesville, NC 28677
      View Details
    • $3 SF/Yr
      38,220 SF

      Statesville Flex Space - 38,220 SF

      Versatile industrial space, multiple suites available. Ideal for various businesses.
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    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Statesville, North Carolina.
      1705 Gregory Rd, Statesville, NC 28677
      View Details
    View Listing
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    Statesville, NC 28677
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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.

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