Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Innes St Salisbury, NC 28144-5111

    • Drive through restaurants
    • 3,200 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1116119
    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

    • Wendy's / Restaurant / Take-out & Catering

    Property Details for 515 Innes St

    Year built
    2015
    Lot size
    1.02 lot acres
    Property size
    3,200 SF
    Zone code
    B6
    Property type
    Drive through restaurants
    APN
    019 107
    APU
    19107

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4656
    Latitude
    35.663
    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
    $17,119
    $643,365
    $787,952
    $1,431,317
    -
    $643,365
    $787,952
    $1,431,317

    Comparable in this City

    • Value Estimation by Request
      1,810 SF

      801 Innes St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,810 SF
      801 Innes St, Salisbury, NC 28144-4625
      View Details
    • Value Estimation
      $665,000
      4,118 SF

      1030 Innes St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,118 SF
      1030 Innes St, Salisbury, NC 28144-5708
      View Details
    • Value Estimation
      $825,000
      7,277 SF

      123 Arlington St

      DRIVE-THRU RESTAURANT, FAST FOOD • 7,277 SF
      123 Arlington St, Salisbury, NC 28144-4614
      View Details
    • Value Estimation by Request
      3,865 SF

      704 Innes St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,865 SF
      704 Innes St, Salisbury, NC 28144-5144
      View Details
    • Value Estimation by Request
      3,822 SF

      902 Innes St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,822 SF
      902 Innes St, Salisbury, NC 28144-4638
      View Details
    • Value Estimation by Request
      2,156 SF

      1532 Innes St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,156 SF
      1532 Innes St, Salisbury, NC 28144-2504
      View Details

    Similar Nearby for Sale

    • $1,915,000
      12,304 SF

      Salisbury Retail Center - High ROI

      12,304 SF Retail Center, 4.35 Acres
      512 Klumac Rd, Salisbury, NC 28144
      View Details
    • Contact for pricing
      8,961 SF

      Downtown Salisbury Retail/Warehouse Opportunity

      Retail and warehouse space in Downtown Salisbury for sale.
      211 E Innes St, Salisbury, NC 28144
      View Details
    • $850,000
      12,920 SF

      Downtown Salisbury Storefront

      Historic building, prime retail location.
      115 Innes St, Salisbury, NC 28144
      View Details
    • $450,000
      0.29 Acres

      Historic Downtown Salisbury Commercial Building

      Versatile commercial building in historic downtown Salisbury with ample parking.
      309 N Main St, Salisbury, NC 28144
      View Details
    • $83,000
      4.75 Acres

      Salisbury Land For Sale

      4.75 acre land parcel in Salisbury, North Carolina.
      Hawkinstown Rd, Salisbury, NC 28144
      View Details
    • Contact for pricing
      Pending

      Land in Rowan County Auction

      Land for sale via online auction in Rowan County.
      Old Concord Rd, Salisbury, NC 28144
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant with Drive-Thru

      Second-generation restaurant with drive-thru, high visibility, and traffic.
      Salisbury, NC 28144
      View Details
    • $3,600 /Mo
      4,356 SF

      Remodeled Commercial Building For Lease

      Fully remodeled commercial building in the heart of Granite Quarry.
      106 N Main St, Granite Quarry, NC 28144
      View Details
    • Contact for pricing
      6,100 SF

      Restaurant Space in Bell Tower

      Restaurant space available in downtown Salisbury's Bell Tower Green.
      115 W Innes St, Salisbury, NC 28144
      View Details
    • Contact for pricing
      6,100 SF

      Downtown Salisbury Restaurant Space

      Prime location, 6100 sq ft, redevelopment opportunity.
      115 Jackson St, Salisbury, NC 28144
      View Details
    • Contact for pricing
      43,000 SF

      Prime Salisbury Executive Office Space

      43,000 SF Office Building - Available Now
      815 Innes St, Salisbury, NC 28144
      View Details
    • Contact for pricing
      64,780 SF

      Innes Street Retail Center

      Salisbury, NC Retail Space Available
      815 Innes St, Salisbury, NC 28144
      View Details

    Property Visit Statistics

    • Visits by month
      18.9k
    • Visitors by month
      14.6k
    • Avg Time on site
      10 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 Innes St
    Salisbury, NC 28144-5111
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!