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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    604 Chestnut St Gastonia, NC 28054-4582

    • Banks
    • 840 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    May 25, 2022
    $155,000
    Value Estimations
    $105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0892333
    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

    • Morrison Insurance Services Inc / Insurance Agency

    Property Details for 604 Chestnut St

    Year built
    1940
    Lot size
    0.20 lot acres
    Property size
    840 SF
    Zone code
    OFF03
    Property type
    Banks
    APN
    109492
    APU
    109492

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $110,000
      ML approach
      $60,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $84,000
      Market price range: $40.1k - $105k
      AI Estimate
      $105,000
      Market price range: $39.3k - $122k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $65,000
      Current use
      COMMERCIAL (GENERAL)
      $150,000
      Change: +120% Conversion: Difficult
      MEDICAL BUILDING
      $135,000
      Change: +99% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $70,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.1699
    Latitude
    35.2557
    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
    2024
    $1,008
    $32,670
    $61,670
    $94,340
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $170,000
      7,228 SF

      1626 Franklin Blvd

      FINANCIAL BUILDING • 7,228 SF
      1626 Franklin Blvd, Gastonia, NC 28054-4747
      View Details
    • Value Estimation
      $195,000
      896 SF

      1566 Un Rd

      FINANCIAL BUILDING • 896 SF
      1566 Un Rd, Gastonia, NC 28054-5301
      View Details
    • Value Estimation
      $185,000
      672 SF

      1391 Garrison Blvd

      FINANCIAL BUILDING • 672 SF
      1391 Garrison Blvd, Gastonia, NC 28054-5178
      View Details
    • Value Estimation
      $195,000
      1,050 SF

      1309 Garrison Blvd

      FINANCIAL BUILDING • 1,050 SF
      1309 Garrison Blvd, Gastonia, NC 28054-5127
      View Details
    • Value Estimation
      $185,000
      836 SF

      1536 Un Rd

      FINANCIAL BUILDING • 836 SF
      1536 Un Rd, Gastonia, NC 28054-2204
      View Details
    • Value Estimation
      $170,000
      893 SF

      303 Franklin Blvd

      FINANCIAL BUILDING • 893 SF
      303 Franklin Blvd, Gastonia, NC 28054-7153
      View Details

    Similar Nearby for Sale

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      6,676 SF

      Gastonia Industrial Site For Sale

      High-visibility industrial site with commissary, live/work space, and ample storage.
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    • $550,000

      Gastonia Commercial Property For Sale

      Newly renovated commercial property in a high-traffic Gastonia location.
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    • Contact for pricing
      1.00 Acre

      Gastonia Commercial Land Outparcel

      One-acre C-3 zoned lot, I-85 visibility.
      1875 Remount Rd, Gastonia, NC 28054
      View Details
    • $67,500
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      Gastonia Commercial Land - $67,500

      Prime 0.22-acre lot, ideal for business.
      2948 Union Rd, Gastonia, NC 28054
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    • Contact for pricing
      1.00 Acre

      Gastonia Commercial Land - 1 Acre

      High-visibility C-3 zoned land near I-85.
      1875 Remount Rd, Gastonia, NC 28054
      View Details
    • $67,500

      Gastonia Land For Sale

      0.22 acre site zoned for business in Gastonia, NC.
      2948 Union Rd, Gastonia, NC 28054
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space in Gastonia Center

      Retail space available in Harris Teeter anchored shopping center.
      3320 Robinwood Rd, Gastonia, NC 28054
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Gastonia, NC

      Retail development opportunity in master-planned community with strong visibility.
      S New Hope Rd, Gastonia, NC 28054
      View Details
    • $24 SF/Yr
      3,177 SF

      Retail Space in Gastonia Center

      Retail space for lease in Gastonia, North Carolina.
      920 Cox Rd, Gastonia, NC 28054
      View Details
    • $6,000 /Mo
      299 SF

      Gastonia Retail Space For Lease

      Prime Gastonia location, 299 sq ft, mixed-use zoning.
      916 New Hope Rd, Gastonia, NC 28054
      View Details
    • Contact for pricing
      43,000 SF

      Gastonia Retail Space For Lease

      Large Single-Tenant Retail Building in Gaston County
      197 New Hope Rd, Gastonia, NC 28054
      View Details
    • $24 SF/Yr
      1,119 SF

      Retail Space in Gastonia Center

      25,000 SF neighborhood center on Cox Road.
      916 Cox Rd, Gastonia, NC 28054
      View Details
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    604 Chestnut St
    Gastonia, NC 28054-4582
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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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