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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2903 Main St Salisbury, NC 28147-7903

    • Office buildings
    • 1,962 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2023
    Value Estimations
    $220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0715802
    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

    • South Sales Communications / Radio Broadcaster

    Property Details for 2903 Main St

    Year built
    1929
    Lot size
    0.49 lot acres
    Property size
    1,962 SF
    Zone code
    M1
    Property type
    Office buildings
    APN
    461 117
    APU
    461117

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $183,000
      Market price range: $161k - $341k
      AI Estimate
      $208,000
      Market price range: $106k - $454k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $235,000
      Current use
      AUTO REPAIR, GARAGE
      $285,000
      Change: +22% Conversion: Difficult
      MEDICAL BUILDING
      $275,000
      Change: +18% Conversion: Easy
      COMMERCIAL (GENERAL)
      $260,000
      Change: +12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.5065
    Latitude
    35.644
    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
    $2,644
    $55,440
    $165,590
    $221,030
    -
    $55,440
    $165,590
    $221,030

    Comparable in this City

    • Value Estimation
      $260,000
      5,164 SF

      205 Guffy St

      OFFICE BUILDING • 5,164 SF
      205 Guffy St, Salisbury, NC 28147-8956
      View Details
    • Value Estimation
      $225,000
      396 SF

      450 Jake Alexander W Blvd

      OFFICE BUILDING • 396 SF
      450 Jake Alexander W Blvd, Salisbury, NC 28147-1365
      View Details
    • Value Estimation
      $270,000
      5,027 SF

      304 Birdie Dr

      OFFICE BUILDING • 5,027 SF
      304 Birdie Dr, Salisbury, NC 28147-9164
      View Details
    • Value Estimation
      $250,000
      504 SF

      125 Ritchie Rd

      OFFICE BUILDING • 504 SF
      125 Ritchie Rd, Salisbury, NC 28147-8051
      View Details
    • Value Estimation
      $335,000
      5,823 SF

      2304 Main St

      OFFICE BUILDING • 5,823 SF
      2304 Main St, Salisbury, NC 28147-8997
      View Details
    • Value Estimation
      $315,000
      1,344 SF

      3870 Main St

      OFFICE BUILDING • 1,344 SF
      3870 Main St, Salisbury, NC 28147-7912
      View Details

    Similar Nearby for Sale

    • $6,300,000

      Salisbury Office Building For Sale

      Office building for sale in Salisbury, North Carolina.
      1904-1910 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • $995,000
      9,000 SF

      9105 sqft Flexible Space in Rowan County High Traffic Area

      Individual retail properties • 9,000 SF
      3212 Main St, Salisbury, NC 28147
      View Details
    • $120,000
      2,400 SF

      Office Space in Salisbury, NC

      Office property for sale in Salisbury, North Carolina.
      504 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • $6,519,000
      10,908 SF

      Salisbury, NC Plasma Center

      Corporate-guaranteed medical investment.
      640 Jake Alexander Blvd, Salisbury, NC 28147
      View Details
    • $299,000

      Commercial Land For Sale

      3.99-acre commercial lot in high-traffic Salisbury, NC.
      00 Jake Alexander Blvd, Salisbury, NC 28147
      View Details
    • $810,000

      27 Acres Near Salisbury

      Partly wooded, partly cleared land suitable for development.
      Old Bradshaw Rd, Salisbury, NC 28147
      View Details

    Similar Nearby for Lease

    • $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
      8,209 SF

      Medical Office Space Available

      Finished and unfinished medical spaces available for lease.
      530 Corporate Cir, Salisbury, NC 28147
      View Details
    • Contact for pricing
      7,200 SF

      Medical/Professional Office Suites For Rent

      Medical and professional office suites available in Salisbury, NC.
      1910 Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • $2,000 /Mo
      37,462 SF

      Commercial Land on Jake Alexander

      Located on highly traveled Jake Alexander Blvd W, Salisbury, NC
      Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • Contact for pricing
      39,261 SF

      Prime Salisbury Industrial Property

      ±39,261 SF Manufacturing/Warehouse
      245 Peach Orchard Rd, Salisbury, NC 28147
      View Details
    • $48,000
      217,800 SF

      Salisbury Industrial Storage Yard

      15 Acres, Secure Outdoor Storage
      5170 Main St, Salisbury, NC 28147
      View Details
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    2903 Main St
    Salisbury, NC 28147-7903
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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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