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

    409 Washington St Shelby, NC 28150-4407

    • Warehouses
    • 4,050 SF
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2715962
    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

    • Shelby Auto Plus Inc / Auto Parts Store
    • Carquest Auto Parts - SHELBY AUTO PLUS / Auto Parts Store

    Property Details for 409 Washington St

    Year built
    1972
    Lot size
    0.40 lot acres
    Property size
    4,050 SF
    Zone code
    GB
    Property type
    Warehouses
    APN
    17526
    APU
    17526

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $192,000
      Market price range: $109k - $332k
      AI Estimate
      $185,000
      Market price range: $100k - $304k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $215,000
      Current use
      RETAIL STORES
      $280,000
      Change: +32% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.5388
    Latitude
    35.2962
    CBSA code
    43140
    CBSA name
    SHELBY, NC MICROPOLITAN 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
    2024
    $1,275
    $39,900
    $65,934
    $105,834
    -
    $39,900
    $65,934
    $105,834

    Comparable in this City

    • Value Estimation
      $175,000
      31.02 Acres

      2215 Randolph Rd

      WAREHOUSE, STORAGE • 31.02 Acres
      2215 Randolph Rd, Shelby, NC 28150-7784
      View Details
    • Value Estimation
      $205,000
      6,144 SF

      511 Washington St

      WAREHOUSE, STORAGE • 6,144 SF
      511 Washington St, Shelby, NC 28150
      View Details
    • Value Estimation
      $245,000
      3,690 SF

      511 Lineberger St

      WAREHOUSE, STORAGE • 3,690 SF
      511 Lineberger St, Shelby, NC 28150
      View Details
    • Value Estimation
      $275,000
      2,720 SF

      1542 Fallston Rd

      WAREHOUSE, STORAGE • 2,720 SF
      1542 Fallston Rd, Shelby, NC 28150-3360
      View Details
    • Value Estimation
      $255,000
      2,500 SF

      Grover St

      WAREHOUSE, STORAGE • 2,500 SF
      Grover St, Shelby, NC 28150
      View Details
    • Value Estimation
      $245,000
      9,728 SF

      1006 Irvin St

      WAREHOUSE, STORAGE • 9,728 SF
      1006 Irvin St, Shelby, NC 28150
      View Details

    Similar Nearby for Sale

    • New
      $975,000
      0.97 Acres

      Shelby Office/Warehouse on Hwy 18N

      Office and warehouse space with roll-up door on 0.97 acres.
      1740 Fallston Rd, Shelby, NC 28150
      View Details
    • $399,500
      3,800 SF

      Shop Space with Fenced Acreage

      Versatile shop space with fenced acreage, convenient location, and key features.
      1028 Washburn Switch Rd, Shelby, NC 28150
      View Details
    • $375,000
      1.46 Acres

      804 Grover St, Shelby, NC 28150

      Retail properties • 1.46 Acres
      804 Grover St, Shelby, NC 28150
      View Details
    • $489,000

      Charming Brick Building with Versatile Zoning

      High-visibility brick property with flexible zoning and desirable features.
      1407 E Marion St, Shelby, NC 28150
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    • $180,000
      4.68 Acres

      4.68 Acres in Shelby, NC

      Land with carports, suitable for residential or commercial use.
      3538 Fallston Rd, Shelby, NC 28150
      View Details
    • $225,000
      10.40 Acres

      Kingstown, NC Land Opportunity

      10.4 acres of land with city utilities nearby.
      1824 Brushy Creek Rd, Kingstown, NC 28150
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,673 SF

      Prime Retail Space, High Traffic Area

      Freestanding Drug Store, 14,673 SF, 1.52 Acres
      1170 Marion St, Shelby, NC 28150
      View Details
    • Contact for pricing
      8,500 SF

      Shelby Retail Space: High Visibility

      Prime Shelby storefront, 7,000 sq ft available, ample parking.
      821 Lafayette St, Shelby, NC 28150
      View Details
    • $330,000
      2,073 SF

      Retail Space in Shelby, NC

      Retail space available for lease in Shelby, North Carolina.
      625 S Lafayette St, Shelby, NC 28150
      View Details
    • $8 SF/Yr
      6,249 SF

      Shelby, NC Office Space for Lease

      Flexible Workspaces in Prime Location
      222 Lafayette St, Shelby, NC 28150
      View Details
    • $15 SF/Yr
      2,000 SF

      Retail Space in Shelby, NC

      2,000 SF retail space available for rent.
      707 S Lafayette St, Shelby, NC 28150
      View Details
    • $10 SF/Yr
      12,745 SF

      Shelby Medical Office Building

      Class A Medical Office Space Available
      808 Schenck St, Shelby, NC 28150
      View Details
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    409 Washington St
    Shelby, NC 28150-4407
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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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