Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    520 Faith Rd Salisbury, NC 28146-7012
    Back to Search
    Property profile & analytics

    520 Faith Rd Salisbury, NC 28146-7012

    View on Map
    • Office buildings
    • 1,504 SF
    • 0.51 lot acres
    Off-Market
    Last Sale Nov 18, 2022
    $350,000
    Property ID
    US53-2219467
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Milan Esthetics / Spa & Massage Center
    • Complete Clean LLC / General Contractor

    Property Details for 520 Faith Rd

    Year built
    1929
    Lot size
    0.51 lot acres
    Property size
    1,504 SF
    Zone code
    B6
    Property type
    Office buildings
    APN
    070 077
    APU
    70077

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4588
    Latitude
    35.6476
    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
    $2,878
    $127,050
    $113,611
    $240,661
    -
    $127,050
    $113,611
    $240,661

    Comparable in this City

    • Value Estimation
      $520,000
      9,084 SF

      1121 Old Concord Rd

      OFFICE BUILDING • 9,084 SF
      1121 Old Concord Rd, Salisbury, NC 28146-1344
      View Details
    • Value Estimation by Request
      2,854 SF

      104 Granite Ln

      OFFICE BUILDING • 2,854 SF
      104 Granite Ln, Salisbury, NC 28146-6108
      View Details
    • Value Estimation
      $3,960,000
      70,424 SF

      1813 Innes St

      OFFICE BUILDING • 70,424 SF
      1813 Innes St, Salisbury, NC 28146-6030
      View Details
    • Value Estimation
      $800,000
      9,435 SF

      1816 Innes St

      OFFICE BUILDING • 9,435 SF
      1816 Innes St, Salisbury, NC 28146-6143
      View Details
    • Value Estimation by Request
      3,660 SF

      115 Brown St

      OFFICE BUILDING • 3,660 SF
      115 Brown St, Salisbury, NC 28146-5108
      View Details
    • Value Estimation by Request
      2,446 SF

      503 Faith Rd

      OFFICE BUILDING • 2,446 SF
      503 Faith Rd, Salisbury, NC 28146-7011
      View Details

    Similar Nearby for Sale

    • $1,950,000
      0.62 Acres

      Prime Salisbury Office Building

      High-Income, Turnkey Office Investment
      1121 Old Concord Rd, Salisbury, NC 28146
      View Details
    • $3,200,000
      12.00 Acres

      Waterfront Commercial Tract with Restaurant

      Commercial property with waterfront restaurant, event venue, and rental.
      257 Boat Club Ln, Salisbury, NC 28146
      View Details
    • Contact for pricing

      87.84 Acres of Timber Land

      87.84 acres of timber land with restoration-ready farmhouse.
      628 Faith Farm Rd, Salisbury, NC 28146
      View Details
    • New
      $86,000
      5.65 Acres

      Wooded Land in Rowan County

      5.65-acre wooded tract in a desirable Rowan County corridor.
      Wildwood Rd, Salisbury, NC 28146
      View Details
    • $50,000
      1.84 Acres

      Spacious Land Parcel in Salisbury

      1.84-acre lot in Salisbury, NC with development potential.
      Brookfield Cir, Salisbury, NC 28146
      View Details
    • $95,000
      1.00 Acre

      Acre Lot in Gated Community

      Acre lot in gated lake community near Salisbury, NC.
      1283 Sunset Pointe Dr, Salisbury, NC 28146
      View Details

    Similar Nearby for Lease

    • $2,900 /Mo
      21,344 SF

      Versatile Commercial Building in Salisbury

      4,370 SF commercial building suited for service-based and flex users.
      2065 Lower Palmer Rd, Salisbury, NC 28146
      View Details
    • $500 /Mo
      27,007 SF

      Renovated Office Suites with Amenities

      Newly renovated office suites with included utilities and high-speed internet.
      1121 Old Concord Rd, Salisbury, NC 28146
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space Available For Rent

      6,000 sq ft retail space available for rent.
      1357 Klumac Rd, Salisbury, NC 28146
      View Details
    • Contact for pricing
      472,890 SF

      New Warehouse Space Available

      472,890 SF warehouse space built in 2024 for lease.
      1415 Peeler Rd, Salisbury, NC 28146
      View Details
    • Contact for pricing
      1,236,600 SF

      New Industrial Park in Salisbury

      1,235,000-SF Class A industrial park with immediate I-85 access.
      1206 Webb Rd, Salisbury, NC 28146
      View Details
    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.
    520 Faith Rd
    Salisbury, NC 28146-7012
    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

    Thank You for Inquiry
    520 Faith Rd, Salisbury, NC, 28146
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!