Property profile

612 Main St Salisbury, NC 28144

OFF-MARKET
Turn key restaurants
Property ID
US53-1522588
4,844 SF 1.14 ac lot Built 1961
Individually Owned 18-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1.78-acre commercial property, situated at 612 S Main Street in the heart of Salisbury, NC, presents a compelling investment opportunity. Currently generating a monthly rental income of $4200 from an existing tenant, this property offers significant potential for future growth and development. Its prime location within walking distance of Salisbury's vibrant downtown area, brimming with restaurants, breweries, and shops, ensures high visibility and accessibility. The DMX zoning designation provides flexibility, allowing for a diverse range of uses, including multi-family residential development (condos or apartments) and various commercial ventures. This versatility makes it an ideal canvas for a variety of projects, catering to the growing demand for both residential and commercial spaces in the area. Adding to its appeal, the property is located within an Opportunity Zone, potentially offering significant tax advantages for investors. The substantial lot size and strategic location make this a rare find in the Salisbury market, promising strong returns and long-term value appreciation. This is a chance to acquire a high-performing asset with considerable upside potential in a thriving downtown setting. Serious inquiries are encouraged.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1961
Total area 4,844 SF
Lot 1.14 ac (49,441 SF)
Zoning code B5
APN 015 356
UPID US53-1522588

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Atm
  • Bar & Pub

Location

612 Main St Salisbury, NC 28144-5411
Salisbury metro Census 52000 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2008
3 recorded transactions
2008
Price N/A
2008
Price N/A
2008
Price N/A

Zoning & alternative use

B5 · Salisbury, NC

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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