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    Property profile & analytics

    801 E Grover St Shelby, NC 28150

    • Commercial real estate
    • 3.00 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2843163
    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

    • City of Shelby Water Treatment Plant / Fire Station / Local Government Office

    Property Details for 801 E Grover St

    Lot size
    3.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3,600 square foot restaurant space is located in the bustling Paradise Plaza off Cave Creek Road, boasting 29,012 vehicles per day. Situated within a larger 22,198 square foot building, this second-generation restaurant offers a customizable layout and significant potential for a large outdoor patio, capitalizing on the high visibility and accessibility from this heavily trafficked road. The C-2 zoning ensures flexibility for various restaurant concepts. Ample parking is available for patrons, and the proximity to other businesses guarantees a consistent flow of potential customers. This turnkey opportunity is perfect for restaurateurs seeking a thriving location to establish or expand their culinary venture. The property features a single-tenant occupancy and is identified by APN 214-66-008. This is a rare chance to secure a prime restaurant location in a high-demand area. The existing infrastructure provides a solid foundation for immediate occupancy and customization to suit individual needs. Don't miss this chance to establish your restaurant in a vibrant and successful commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.52454599
    Latitude
    35.30550247

    Comparable in this City

    • $185,000
      10.43 Acres

      Cleared Land in Shelby, NC

      10.426 acres of cleared land ready for development.
      1406 S Post Rd, Shelby, NC 28150
      View Details
    • $160,000
      2.39 Acres

      Shelby Commercial Land - $160K

      2.39 Acres, CPD Zoning, Prime Location
      104 Life Enrichment Blvd, Shelby, NC 28150
      View Details
    • Contact for pricing

      3 Acres Redevelopment Opportunity

      Three assembled parcels, approximately 3 acres, suitable for redevelopment.
      801 E Grover St, Shelby, NC 28150
      View Details
    • $125,000
      1.76 Acres

      Land in Dogwood Shores Community

      1.757-acre corner lot with lake views and creekfront.
      207 Fairmont Dr, Shelby, NC 28150
      View Details
    • Contact for pricing

      Entitled Site for Townhomes

      Land for 10 townhomes with utilities available in Shelby, NC.
      141 Ross Grove Rd, Shelby, NC 28150
      View Details
    • New
      $369,900
      1.46 Acres

      Commercial Land with Triple Road Frontage

      1.455 acre commercial land with high traffic volume.
      804 E Grover St E, Shelby, NC 28150
      View Details

    Similar Nearby for Sale

    • $185,000
      10.43 Acres

      Cleared Land in Shelby, NC

      10.426 acres of cleared land ready for development.
      1406 S Post Rd, Shelby, NC 28150
      View Details
    • $160,000
      2.39 Acres

      Shelby Commercial Land - $160K

      2.39 Acres, CPD Zoning, Prime Location
      104 Life Enrichment Blvd, Shelby, NC 28150
      View Details
    • Contact for pricing

      3 Acres Redevelopment Opportunity

      Three assembled parcels, approximately 3 acres, suitable for redevelopment.
      801 E Grover St, Shelby, NC 28150
      View Details
    • $125,000
      1.76 Acres

      Land in Dogwood Shores Community

      1.757-acre corner lot with lake views and creekfront.
      207 Fairmont Dr, Shelby, NC 28150
      View Details
    • Contact for pricing

      Entitled Site for Townhomes

      Land for 10 townhomes with utilities available in Shelby, NC.
      141 Ross Grove Rd, Shelby, NC 28150
      View Details
    • New
      $369,900
      1.46 Acres

      Commercial Land with Triple Road Frontage

      1.455 acre commercial land with high traffic volume.
      804 E Grover St E, Shelby, NC 28150
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo
      21,780 SF

      Retail Space in Shelby, NC

      2008 SF retail space for lease in Shelby, NC.
      920 Fallston Rd, Shelby, NC 28150
      View Details
    • $8 SF/Yr
      6,249 SF

      Shelby, NC Office Space for Lease

      Flexible Workspaces in Prime Location
      222 Lafayette St, Shelby, NC 28150
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Shelby, NC

      2,000 SF retail space available for rent.
      707 S Lafayette St, Shelby, NC 28150
      View Details
    • $10 SF/Yr
      12,745 SF

      Shelby Medical Office Building

      Class A Medical Office Space Available
      808 Schenck St, Shelby, NC 28150
      View Details
    • Contact for pricing
      2,040 SF

      Shelby Office Space Available

      2040 SF office space for rent in Shelby, NC.
      116 Lee St, Shelby, NC 28150
      View Details
    • Contact for pricing
      14,673 SF

      Prime Retail Space, High Traffic Area

      Freestanding Drug Store, 14,673 SF, 1.52 Acres
      1170 Marion St, Shelby, NC 28150
      View Details
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    Shelby, NC 28150
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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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