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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Retail space
335 Salisbury Ave Spencer, NC 28159-2513
Individually Owned
5-yr Hold
Free & Clear
Property ID
US53-1538956
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Construction
STEEL FRAME
Total area
8,655 SF
Lot
0.83 ac (36,155 SF)
Zoning code
NB:NEIGHBORHOOD BUS
APN
035 198
UPID
US53-1538956
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$758k
Blend (final)
Blend
$635k
Owner & transaction history
James A Fisher JR · 5 yrs held
James A Fisher JR
since 2021
Last sale
$645,000
2 recorded transactions
Zoning & alternative use
NB:NEIGHBORHOOD BUS · Spencer, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+36.1%
Auto repair, garage
$815,000
+7.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$625,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$765,000
Current use
RESTAURANT
$1,040,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$815,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $645k (Apr 6 2021)
Last sale anchor
$645k
Apr 6 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$73 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,358
Tax year 2023
Assessed value
$651,141
Assessed 2023
Previous assessed
$472,671
+37.8% YoY
Effective rate
1.13%
On assessed value
Assessed land
$194,767
Assessed improvement
$456,374
Land market value
$194,767
Improvement market value
$456,374
Total market value
$651,141
Applied tax rate
103.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Units
1
Total area
8,655 SF
Lot
0.83 ac (36,155 SF)
Zoning code
NB:NEIGHBORHOOD BUS
APN
035 198
UPID
US53-1538956
Jurisdiction
ROWAN
Zoning & alternative use
NB:NEIGHBORHOOD BUS · Spencer, NC
Zoning NB:NEIGHBORHOOD BUS · permitted uses
NB:NEIGHBORHOOD BUS · Spencer, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spencer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$765,000
RESTAURANT
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$815,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Units
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
James A Fisher JR
Individual
Free & Clear · 5 yrs held
Mailing address
PO BOX 1224, KANNAPOLIS, NC 28082-1224
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2021
$645,000
James A Fisher JR
Singh Gill Prabhleen
Warranty Deed
—
Feb 26, 2010
$497,000
Prabhleen Singh Gill
D&m Properties Of Greenvil
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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