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    Property profile & analytics

    335 Salisbury Ave Spencer, NC 28159-2513

    • Retail space
    • 8,655 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimation
    $650,000
    Last Sale
    Apr 06, 2021
    $645,000
    Location Intelligence
    Property ID
    US53-1538956
    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

    • Retail space

    Property Details for 335 Salisbury Ave

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    0.83 lot acres
    Property size
    8,655 SF
    Zone code
    NB:NEIGHBORHOOD BUS
    Property type
    Retail space
    APN
    035 198
    APU
    35198

    Description

    This 8,655 square foot Dollar General in Spencer, North Carolina, presents a compelling investment opportunity. Built in 2002, the property boasts a strong corporate-guaranteed, single-tenant lease with Dollar General, extending to August 1, 2028, with a five-year renewal option. The property features a 5.28% pro-forma cap rate and a current net operating income (NOI) of $52,250. Located at 335 Salisbury Ave, Spencer, NC 28159, the property benefits from high visibility and convenient access, situated just one exit north of Salisbury and one mile from I-85 Exit 79. The property includes 28 parking spaces and is zoned NB - Neighborhood Business. Strong co-tenancy includes Food Lion and Subway, further enhancing the property's value and appeal. The property's excellent location and long-term lease make it an attractive investment for those seeking stable, passive income. The asking price is $990,000, representing a price per square foot of $114.38. The property is a double net (NN) lease, and the building is a single-story structure. This is a stabilized investment with 100% occupancy since October 1, 2002.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $625,000

    • CAP approach

      CAP return
      Estimation
      6%
      $710,000
      6.5%
      $770,000
      7%
      $715,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $830,000
      Geo Method
      $810,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $645,000
      Retail
      $700,000
      Mixed-Use
      $740,000
      Hospitality
      $635,000
      Educational
      $695,000
      Residential Income
      $600,000
      Energy
      $680,000
      Income-Based Land
      $690,000
      Food Service
      $620,000

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4252
    Latitude
    35.6925
    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
    $7,358
    $194,767
    $456,374
    $651,141
    -
    $194,767
    $456,374
    $651,141

    Comparable in this City

    • Value Estimation by Request
      1,620 SF

      200 Salisbury Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,620 SF
      200 Salisbury Ave, Spencer, NC 28159-2315
      View Details
    • Value Estimation by Request
      1,885 SF

      106 4th St

      RETAIL STORES (PERSONAL SERVICES) • 1,885 SF
      106 4th St, Spencer, NC 28159-2214
      View Details
    • Value Estimation by Request
      4,264 SF

      127 5th St

      RETAIL STORES (PERSONAL SERVICES) • 4,264 SF
      127 5th St, Spencer, NC 28159-2125
      View Details
    • Value Estimation
      $35,000
      1,500 SF

      102 4th St

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      102 4th St, Spencer, NC 28159-2214
      View Details
    • Value Estimation
      $370,000
      14,960 SF

      1303 Salisbury Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,960 SF
      1303 Salisbury Ave, Spencer, NC 28159-1918
      View Details
    • Value Estimation by Request
      1,406 SF

      912 Salisbury Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,406 SF
      912 Salisbury Ave, Spencer, NC 28159-2015
      View Details

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    Spencer, NC 28159-2513
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    Realmo Value Estimation

    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.

    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.

    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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