Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    718 Leonard Ave Albemarle, NC 28001
    Back to Search
    Property profile & analytics

    718 Leonard Ave Albemarle, NC 28001

    View on Map
    • Commercial real estate
    • 13,376 SF
    • 2.50 lot acres
    For Lease
    $1,900,000
    View Listing →
    Albemarle Retail Space For Lease For Lease
    $1,900,000

    Albemarle Retail Space For Lease

    Retail spaces available for lease in Albemarle, North Carolina.

    718, 750, 780 Leonard Ave, Albemarle, NC 28001
    View Listing
    Property ID
    US53-3900605
    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.
    Value Estimations
    $1,900,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mattress Firm Albemarle / Furniture & Home Goods
    • Eddie Chang - Realtor / Real Estate Agency
    • Little Caesars Pizza / Restaurant
    • Jersey Mike's Subs / Take-out & Catering / Catering Service
    • Polish Nail Bar / Nail Salon

    Property Details for 718 Leonard Ave

    Year built
    2015
    Lot size
    2.50 lot acres
    Property size
    13,376 SF
    Property type
    Commercial real estate
    APN
    654804816569
    APU
    654804816569

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,900,000
      ML approach
      $1,900,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,650,000
      Current use
      RESTAURANT
      $1,515,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albemarle
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.1782
    Latitude
    35.3423
    CBSA code
    10620
    CBSA name
    ALBEMARLE, NC MICROPOLITAN 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
    $18,977
    $601,435
    $954,088
    $1,555,523
    -
    $601,435
    $954,088
    $1,555,523

    Comparable in this City

    • Value Estimation by Request
      0.56 Acres

      1401 Main St

      Commercial real estate • 0.56 Acres
      1401 Main St, Albemarle, NC 28001
      View Details
    • Value Estimation by Request
      57.35 Acres

      Vac Nc 24/27 Hwy

      Commercial real estate • 57.35 Acres
      Vac Nc 24/27 Hwy, Albemarle, NC 28001
      View Details
    • Value Estimation by Request
      308 SF

      761 Nc 24th 27th E Byp

      COMMERCIAL (GENERAL) • 308 SF
      761 Nc 24th 27th E Byp, Albemarle, NC 28001-5349
      View Details
    • Value Estimation by Request
      2,833 SF

      Nc 73rd Hwy

      COMMERCIAL (GENERAL) • 2,833 SF
      Nc 73rd Hwy, Albemarle, NC 28001
      View Details
    • Value Estimation by Request
      2,252 SF

      24310 Old Aquadale Rd

      COMMERCIAL (GENERAL) • 2,252 SF
      24310 Old Aquadale Rd, Albemarle, NC 28001-8707
      View Details
    • Value Estimation by Request
      603 SF

      24656 Saint Martin Rd

      COMMERCIAL (GENERAL) • 603 SF
      24656 Saint Martin Rd, Albemarle, NC 28001-7449
      View Details

    Similar Nearby for Sale

    • $405,900
      0.72 Acres

      High-Visibility Albemarle Commercial Land

      Prime .72-Acre Lot, Hwy 24/27 Frontage
      2014 Main St, Albemarle, NC 28001
      View Details
    • $185,000
      1.85 Acres

      Albemarle Commercial Multi-Use Property

      High-potential mixed-use investment opportunity.
      00 Henson St, Albemarle, NC 28001
      View Details
    • Contact for pricing
      6,894 SF

      Single-Tenant Government-Leased Office Investment

      Stabilized office building with durable cash flow and rental growth.
      702 Henson St, Albemarle, NC 28001
      View Details
    • $379,000

      Cleared Land in High-Traffic Area

      Commercial land for sale in Albemarle, near retail and hotels.
      Leonard Ave, Albemarle, NC 28001
      View Details
    • Contact for pricing

      Light Industrial Land Available

      Light industrial land with water and sewer access.
      Charter St, Albemarle, NC 28001
      View Details
    • Contact for pricing

      Stanly County Acreage Available

      81+ acres in Stanly County with stream and varied topography.
      0000 Stony Gap Rd, Albemarle, NC 28001
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Centre Point Plaza

      Community center retail space with highway exposure in Albemarle, NC.
      720 Nc-24, Albemarle, NC 28001
      View Details
    • $900 /Mo
      22,834 SF

      Albemarle Retail or Office Space

      End unit in established strip center, suitable for retail/office.
      1108 N 2Nd St, Albemarle, NC 28001
      View Details
    • Contact for pricing
      32,960 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces with excellent visibility and easy access.
      800-819 N 1St St, Albemarle, NC 28001
      View Details
    • $15 SF/Yr
      5,189 SF

      Downtown Albemarle Restaurant Opportunity

      Three-story restaurant space in downtown Albemarle, North Carolina.
      135-141 W Main St, Albemarle, NC 28001
      View Details
    • $2,773 /Mo
      1,773 SF

      Albemarle Warehouse/Distribution Space Available

      Flexible warehouse and distribution space with highway access.
      1735 Woodhurst Ln, Albemarle, NC 28001
      View Details
    • $3,773 /Mo
      3,773 SF

      Albemarle Warehouse/Flex Space Available

      Warehouse/flex space with highway access near downtown Albemarle.
      1737 Woodhurst Ln, Albemarle, NC 28001
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    718 Leonard Ave
    Albemarle, NC 28001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    718 Leonard Ave, Albemarle, NC, 28001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!