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    Property profile & analytics

    556 Sharon School Rd Statesville, NC 28625-1604

    • Grocery and convenience stores
    • 777 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Jun 10, 2024
    $330,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5726822
    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

    • I-40 EXPRESS / Auto Repair Shop
    • ATM / Atm
    • Citgo / Gas Station

    Property Details for 556 Sharon School Rd

    Year built
    1968
    Construction
    WOOD
    Lot size
    0.74 lot acres
    Property size
    777 SF
    Zone code
    HB
    Property type
    Grocery and convenience stores
    APN
    3793-05-2238.000
    APU
    3793052238000

    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
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -81.0553
    Latitude
    35.753
    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
    $772
    $74,000
    $56,930
    $130,930
    -
    $74,000
    $56,930
    $130,930

    Comparable in this City

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      $5,080,000
      35,922 SF

      3446 Broad St, Unit 3478

      GROCERY, SUPERMARKET • 35,922 SF
      3446 Broad St, Statesville, NC 28625-4523
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    • Value Estimation by Request
      2,316 SF

      3310 Taylorsville Hwy

      CONVENIENCE STORE • 2,316 SF
      3310 Taylorsville Hwy, Statesville, NC 28625-2900
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    • Value Estimation by Request
      4,858 SF

      1025 Tomlin Ml Rd

      CONVENIENCE STORE • 4,858 SF
      1025 Tomlin Ml Rd, Statesville, NC 28625-1598
      View Details
    • Value Estimation by Request
      8,500 SF

      849 Turnersburg Hwy

      CONVENIENCE STORE • 8,500 SF
      849 Turnersburg Hwy, Statesville, NC 28625-9446
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    • Value Estimation by Request
      6,817 SF

      2174 Is Frd Rd

      GROCERY, SUPERMARKET • 6,817 SF
      2174 Is Frd Rd, Statesville, NC 28625-9609
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    • Value Estimation by Request
      10,389 SF

      309 Mocksville Hwy

      CONVENIENCE STORE • 10,389 SF
      309 Mocksville Hwy, Statesville, NC 28625-8267
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10.83 Acres

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    • $1,500,000
      10.82 Acres

      Statesville Retail Land Opportunity

      Prime 10.82-acre retail site in Statesville, NC
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      Pending

      Residential Lot Outside Statesville

      0.35 acre vacant lot with residential zoning.
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    • $374,999
      19.67 Acres

      Secluded Land in Statesville, NC

      19.67-acre lot perfect for a custom home or mini-farm.
      Cove Gap Rd, Statesville, NC 28625
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    • $475,000
      8.80 Acres

      8.8 Acres Ready to Build

      Pristine land with approved septic layouts for three homes.
      128 Backrush Ct, Statesville, NC 28625
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    • Contact for pricing

      Interstate Visible Outparcel Development Opportunity

      5.83 acre commercial land with interstate visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space in Community Center

      Retail space available in community center anchored by Food Lion.
      1670 East Broad St, Statesville, NC 28625
      View Details
    • Contact for pricing
      1,202 SF

      Retail Space in Forth Crossings

      Newer retail center with high visibility and easy access.
      187 Turnersburg Hwy, Statesville, NC 28625
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    • Contact for pricing
      3,410 SF

      Retail Space Near Amenities

      Retail space available near hotels, restaurants, and car dealerships.
      1525-1531 Cinema Dr, Statesville, NC 28625
      View Details
    • Contact for pricing
      147,858 SF

      Shoppes at Broad St Retail Space

      High-traffic retail space, I-77 & I-40 access.
      1885 Broad St, Statesville, NC 28625
      View Details
    • $15 SF/Yr
      40,425 SF

      Eastgate Commons Retail Space

      Last retail space; Food Lion anchored.
      3446 Broad St, Statesville, NC 28625
      View Details
    • Contact for pricing

      Statesville Drive-Thru Restaurant Opportunity

      Freestanding drive-thru restaurant space in Statesville's retail corridor.
      Statesville, NC 28625
      View Details

    Property Visit Statistics

    • Visits by month
      8.2k
    • Visitors by month
      4.5k
    • Avg Time on site
      12 min
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    556 Sharon School Rd
    Statesville, NC 28625-1604
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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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