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    Property profile & analytics

    511 Jake Alexander S Blvd Salisbury, NC 28147-9055

    • Automotive properties
    • 24,998 SF
    • 9.01 lot acres
    OFF-MARKET
    Value Estimations
    $3,590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1502356
    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

    • Cloninger Ford, Inc. Collision / Auto Repair Shop
    • Cloninger Ford, Inc. Service / Auto Repair Shop
    • Cloninger Toyota Auto Repair Shop / Auto Repair Shop
    • Cloninger Ford Auto Repair Shop / Auto Repair Shop
    • Cloninger Toyota Auto Body Repair / Auto Repair Shop / (Bike/Boat/Book/etc) Store

    Property Details for 511 Jake Alexander S Blvd

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    9.01 lot acres
    Property size
    24,998 SF
    Zone code
    HB:HIGHWAY BUSINESS
    Property type
    Automotive properties
    APN
    060 122
    APU
    60122

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,872,000
      Market price range: $988k - $3.87M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,645,000
      Current use
      MEDICAL BUILDING
      $3,525,000
      Change: -3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,330,000
      Change: -9% Conversion: Moderate
      RESTAURANT
      $3,005,000
      Change: -18% Conversion: Difficult
      OFFICE BUILDING
      $2,975,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4915
    Latitude
    35.6458
    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
    $63,534
    $1,919,736
    $3,392,484
    $5,312,220
    -
    $1,919,736
    $3,392,484
    $5,312,220

    Comparable in this City

    • Value Estimation
      $12,995,000
      28,964 SF

      414 Jake Alexander S Blvd

      VEHICLE SALES, RENTALS • 28,964 SF
      414 Jake Alexander S Blvd, Salisbury, NC 28147-9054
      View Details
    • Value Estimation by Request
      21,385 SF

      529 Jake Alexander S Blvd

      VEHICLE SALES, RENTALS • 21,385 SF
      529 Jake Alexander S Blvd, Salisbury, NC 28147-9055
      View Details
    • Value Estimation
      $4,315,000
      30,091 SF

      629 Jake Alexander S Blvd

      VEHICLE SALES, RENTALS • 30,091 SF
      629 Jake Alexander S Blvd, Salisbury, NC 28147-9056
      View Details
    • Value Estimation by Request
      30,245 SF

      525 Jake Alexander S Blvd

      VEHICLE SALES, RENTALS • 30,245 SF
      525 Jake Alexander S Blvd, Salisbury, NC 28147-9055
      View Details
    • Value Estimation
      $2,475,000
      54,398 SF

      630 Ritchie Rd

      VEHICLE SALES, RENTALS • 54,398 SF
      630 Ritchie Rd, Salisbury, NC 28147
      View Details
    • Value Estimation by Request
      2,280 SF

      5401 Mooresville Rd

      AUTO REPAIR, GARAGE • 2,280 SF
      5401 Mooresville Rd, Salisbury, NC 28147-7660
      View Details

    Similar Nearby for Sale

    • $6,519,000
      10,908 SF

      Salisbury, NC Plasma Center

      Corporate-guaranteed medical investment.
      640 Jake Alexander Blvd, Salisbury, NC 28147
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    • $775,000

      Storage Facility with Commercial Space

      Renovated storage facility with commercial space on Highway 150.
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    • Contact for pricing

      Commercial Space on Highway 29

      9600 sqft commercial space with warehouse and office/retail areas.
      4055 S Main St, Salisbury, NC 28147
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      79,732 SF

      Grocery-Anchored Shopping Center For Sale

      79,732 SF shopping center anchored by Food Lion.
      2096-2138 Statesville Blvd, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Salisbury Mall Outparcel: Prime Development Site

      1.05-Acre Commercial Land, Highway 70 Frontage
      1935 Jake Alexander Blvd, Salisbury, NC 28147
      View Details
    • $995,000
      9,000 SF

      9105 sqft Flexible Space in Rowan County High Traffic Area

      Retail space • 9,000 SF
      3212 Main St, Salisbury, NC 28147
      View Details

    Similar Nearby for Lease

    • $48,000
      217,800 SF

      Salisbury Industrial Storage Yard

      15 Acres, Secure Outdoor Storage
      5170 Main St, Salisbury, NC 28147
      View Details
    • Contact for pricing

      Proposed Industrial Development in Rowan

      293,918 SF industrial space for lease near I-85.
      505 Grace Church Rd, 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
    • $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
    • $2,000 /Mo
      37,462 SF

      Vacant Land on Jake Alexander

      Commercial land for lease on a highly traveled road.
      Jake Alexander Blvd W, Salisbury, NC 28147
      View Details
    • $1.02 SF/Yr
      174,240 SF

      Salisbury Industrial Land Lease

      Four-acre outdoor storage; excellent location.
      5170 S Main St, Salisbury, NC 28147, Salisbury, NC 28147
      View Details
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    Salisbury, NC 28147-9055
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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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