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

    608 2nd Ave Gastonia, NC 28054-7121

    • Investment properties
    • 6,400 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Jul 17, 2024
    $1,000,000
    Value Estimations
    $1,000,000
    Show details
    Cap Rate Potential
    9.2%
    Investment properties
    Location Intelligence
    Property ID
    US53-2034218
    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

    • CrossFit Gastonia / Gym / Physical Fitness Program
    • Spindle City CrossFit / Gym / Physical Fitness Program
    • Unique Air Heating & Cooling / Furnace Repair Service / Heating Equipment Supplier

    Property Details for 608 2nd Ave

    Year built
    2000
    Lot size
    0.42 lot acres
    Property size
    6,400 SF
    Zone code
    OFF01
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    105606
    APU
    105606

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $708,000
      Market price range: $421k - $1.69M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,125,000
      Current use
      MEDICAL BUILDING
      $1,020,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.1727
    Latitude
    35.2612
    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
    $3,597
    $54,890
    $281,600
    $336,490
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      1,347 SF

      Trade St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,347 SF
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    • Value Estimation
      $1,330,000
      12,480 SF

      719 2nd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 12,480 SF
      719 2nd Ave, Gastonia, NC 28054-7144
      View Details
    • Value Estimation by Request
      780 SF

      1123 Lowell Spencer Mtn Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 780 SF
      1123 Lowell Spencer Mtn Rd, Gastonia, NC 28054
      View Details
    • Value Estimation
      $710,000
      3,200 SF

      1994 Remount Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,200 SF
      1994 Remount Rd, Gastonia, NC 28054-7439
      View Details
    • Value Estimation
      $3,985,000
      32,979 SF

      1300 Franklin Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 32,979 SF
      1300 Franklin Blvd, Gastonia, NC 28054-4003
      View Details
    • Value Estimation
      $1,060,000
      5,484 SF

      1012 New Hope Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,484 SF
      1012 New Hope Rd, Gastonia, NC 28054-3801
      View Details

    Similar Nearby for Sale

    • $1,600,000
      6,676 SF

      Gastonia Industrial Site For Sale

      High-visibility industrial site with commissary, live/work space, and ample storage.
      901 Dr Martin Luther King Jr Way, Gastonia, NC 28054
      View Details
    • 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
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    • $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
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    • $39,900
      0.22 Acres

      Residential Development Opportunity in Gastonia

      Shovel-ready land near downtown Gastonia with water and sewer access.
      400 E Club Dr, Gastonia, NC 28054
      View Details
    • $899,000
      6,200 SF

      Gastonia Mixed-Use Investment Opportunity

      Three parcels with multiple buildings in Gastonia, North Carolina.
      617 E 2Nd Ave, Gastonia, NC 28054
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    Similar Nearby for Lease

    • $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
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    • 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
    • $3,500 /Mo
      350 SF

      Industrial Land Near I-85

      Approximately 1 acre of industrial land available for rent.
      621 E Long Ave, Gastonia, NC 28054
      View Details
    • Contact for pricing
      20,930 SF

      Gaston County Executive Office Space

      Prime Office Suite, Flexible Lease Options
      2700 X Ray Dr, Gastonia, NC 28054
      View Details
    • $14 SF/Yr
      12,862 SF

      Gastonia Office Space For Lease

      Modern Office Building, Ample Parking
      110 Armstrong St, 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
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    608 2nd Ave
    Gastonia, NC 28054-7121
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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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