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Property profile & analytics
FOR LEASE
Strip malls

313 Salisbury Ave Spencer, NC 28159

49,480 SF 5.64 ac lot Built 1988
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US53-1880123
Property summary
AI-generated overview

Spencer Marketplace, located at 313 Salisbury Ave, Spencer, NC 28159, presents a prime retail leasing opportunity. This multi-tenant retail center boasts a total of 47,874 square feet, with 1,800 square feet currently vacant. Strategically situated in Rowan County, the property enjoys excellent visibility and accessibility. Its prime location offers full traffic access from North Salisbury Street and is conveniently located just a quarter-mile north of the North Carolina Transportation Museum, ensuring high foot traffic and visibility. The center's proximity to Interstate 85 provides easy access for customers and employees alike. The property is classified as a primary grocery center within the Spencer community, indicating a strong existing customer base and potential for significant growth. The available 1,800 square feet offers a flexible space suitable for a variety of retail businesses. The property's address is easily accessible via Jefferson Street, providing multiple points of entry and exit for optimal convenience. This is an exceptional opportunity to establish or expand a retail presence in a thriving North Carolina market. The property's size and location make it an ideal investment for businesses seeking high visibility and convenient access to a substantial customer base.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1988
Total area 49,480 SF
Lot 5.64 ac (245,678 SF)
Zoning code NB:NEIGHBORHOOD BUS
APN 035 256
UPID US53-1880123
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Northern Rowan Family Medicine (Food Lion Parking Lot)) Medical Laboratory
  • Food Lion Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$720k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.13M
Blend (final) Blend
$930k
Owner & transaction history
Spencer Marketplace Partners LLC · 9 yrs held
Spencer Marketplace Partners LLC
since 2016
6 recorded transactions
2020
Price N/A
2020
Price N/A
2017
Price N/A
2016
$2.8M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
NB:NEIGHBORHOOD BUS · Spencer, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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