Property profile

528 Frk Rd Norwood, NC 28128

OFF-MARKET
Commercial real estate
Property ID
US53-2178190
1,280 SF 1 ac lot Built 1973
Individually Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 1,280 square foot retail property, situated on a 0.996-acre lot in Norwood, North Carolina, presents a compelling investment opportunity. Located at 528 Fork Rd, 28128, this single-story, 1973-built building boasts a convenient location off Highway 52, near a grocery-anchored center. Previously utilized as a gas station and more recently a fish market, the property offers versatile potential for redevelopment. The existing structure is currently partially occupied by a month-to-month ice vending company lease. Two underground fuel tanks remain on the site. The property is zoned for commercial use and features a convenient location with high visibility. The asking price is $379,000. The APN is 656302759907. This property is ideal for a variety of retail uses, including but not limited to, quick-service restaurants (QSR), convenience stores, or auto shops. Its prime location and flexible zoning make it an attractive prospect for entrepreneurs and investors seeking a high-return opportunity in a thriving North Carolina market. The property's history as a gas station and fish market demonstrates its adaptability to various commercial ventures. The existing lease provides immediate income potential, while the vacant space allows for customization and expansion. This is a rare chance to acquire a well-positioned retail property with significant upside potential.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1973
Total area 1,280 SF
Lot 1 ac (43,560 SF)
Zoning code H-B
APN 656302759907
UPID US53-2178190

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

528 Frk Rd Norwood, NC 28128
Norwood metro Census 931102 ALBEMARLE, NC MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$175k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$145k

Owner & transaction history

since 2022
Last sale
$130,000
2 recorded transactions
2022
$130,000
2012
Price N/A

Zoning & alternative use

H-B · Norwood, NC
Zoning description

(H) Highway business district (HB and HB-CD) ................................................. III-5 (I) General business district (GB and GB-CD) .................................................. III-5 (J) Light manufac…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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