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

    721 Grv St Salisbury, NC 28144-3339

    • Medical offices
    • 1,290 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Dec 31, 2020
    $140,000
    Value Estimations
    $170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2284085
    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

    • Bream Medical - Salisbury / Urgent Care Center / Medical Office

    Property Details for 721 Grv St

    Year built
    1981
    Lot size
    0.19 lot acres
    Property size
    1,290 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    006 475
    APU
    6475

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $160,000
      ML approach
      $135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $202,000
      Market price range: $74.8k - $280k
      AI Estimate
      $135,000
      Market price range: $54.7k - $172k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $180,000
      Current use
      AUTO REPAIR, GARAGE
      $190,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $170,000
      Change: -6% Conversion: Easy
      OFFICE BUILDING
      $150,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4704
    Latitude
    35.6792
    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
    2023
    $3,263
    $95,701
    $177,158
    $272,859
    -
    $95,701
    $177,158
    $272,859

    Comparable in this City

    • Value Estimation
      $415,000
      13,864 SF

      810 Mitchell Ave

      MEDICAL BUILDING • 13,864 SF
      810 Mitchell Ave, Salisbury, NC 28144-6253
      View Details
    • Value Estimation
      $355,000
      3,268 SF

      601 Mocksville Ave

      MEDICAL BUILDING • 3,268 SF
      601 Mocksville Ave, Salisbury, NC 28144-2746
      View Details
    • Value Estimation
      $295,000
      9,005 SF

      1407 Innes St

      MEDICAL BUILDING • 9,005 SF
      1407 Innes St, Salisbury, NC 28144-2501
      View Details
    • Value Estimation
      $310,000
      4,688 SF

      708 Grv St

      MEDICAL BUILDING • 4,688 SF
      708 Grv St, Salisbury, NC 28144-2740
      View Details
    • Value Estimation
      $240,000
      7,543 SF

      812 Innes St

      MEDICAL BUILDING • 7,543 SF
      812 Innes St, Salisbury, NC 28144-4152
      View Details
    • Value Estimation
      $315,000
      3,200 SF

      1710 Walker St

      MEDICAL BUILDING • 3,200 SF
      1710 Walker St, Salisbury, NC 28144-2572
      View Details

    Similar Nearby for Sale

    • $118,000
      0.38 Acres

      Salisbury, NC Commercial Opportunity

      Prime location near hospital, ideal for medical office or services.
      1045 Highland Ave, Salisbury, NC 28144
      View Details
    • Contact for pricing
      13,575 SF

      Class A Medical Office Building in Salisbury, NC

      13,575 SF Multi-Tenant Medical Office Building
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    • $462,400

      Updated Office Suite For Sale

      Updated office suite in prime location, ready for your business.
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    • $5,100,000
      15,604 SF

      Medical Office Investment Opportunity

      Medical office for sale in Salisbury, North Carolina.
      810 Mitchell Ave, Salisbury, NC 28144
      View Details
    • $450,000
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      Salisbury Office Building - Great ROI

      Fully occupied, high-return office building.
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    • $525,000
      3,221 SF

      Office Building with Expansion Potential

      3,221 SF office building with high visibility and expansion options.
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    Similar Nearby for Lease

    • Contact for pricing
      13,575 SF

      Class A Medical Office, Salisbury NC

      Prime Medical Office Space Available - Salisbury, NC
      203 Mocksville Ave, Salisbury, NC 28144
      View Details
    • $1,104 /Mo

      Downtown Salisbury Office Space Available

      Office space in downtown Salisbury with shared amenities and parking.
      204 E Innes St Unit, Salisbury, NC 28144
      View Details
    • Contact for pricing
      43,000 SF

      Prime Salisbury Executive Office Space

      43,000 SF Office Building - Available Now
      815 Innes St, Salisbury, NC 28144
      View Details
    • $800 /Mo

      Salisbury Office Space For Rent

      Office space with reception area and two offices for rent.
      315 N Main St, Salisbury, NC 28144
      View Details
    • $1,500 /Mo
      43,124 SF

      Commercial Warehouse Space in Salisbury

      Affordable warehouse space with office, restroom, and garage doors.
      203 E Harrison St, Salisbury, NC 28144
      View Details
    • $8 SF/Yr
      12,000 SF

      Stand-Alone Industrial Building For Lease

      12,000 SF industrial building suitable for manufacturing or distribution.
      2200 Old Wilkesboro Rd, Salisbury, NC 28144
      View Details
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    Salisbury, NC 28144-3339
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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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