642 Shaver St Salisbury, NC 28144

Property Details for 642 Shaver St

Year built

1926

Lot size

4.32 lot acres

Property type

Commercial real estate

Description

This exceptional 4.32-acre property located at 642 S Shaver Street in Salisbury, NC, presents a unique redevelopment opportunity. The site encompasses the historic Lincoln School, a vacant building with a rich history, offering significant potential for adaptive reuse. The property has been vacant for over two decades and is ready for a new owner to bring it back to life. A comprehensive use study, conducted by Belk Architecture, has already identified several viable development options, although alternative proposals are encouraged. The strategic location is a key advantage, situated between a residential neighborhood, a public swimming pool, and the National Cemetery, ensuring high visibility and accessibility. Its proximity to the historic downtown area and convenient access to I-85 further enhance its appeal. This prime location offers exceptional potential for a variety of commercial ventures. The Historic Salisbury Foundation is actively pursuing a National Register Nomination for the property, which is currently on the State Historic Preservation Office's study list. Successful nomination will unlock significant financial incentives, including the availability of historic tax credits—up to 40% for income-producing projects—to support the restoration and redevelopment of this landmark property. This presents a rare chance to acquire a substantial piece of Salisbury's history and transform it into a thriving commercial enterprise. The asking price is $365,000.

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Longitude

-80.47337

Latitude

35.66042