Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    804 E Grover St E Shelby, NC 28150

    • Industrial land
    • 4,343 SF
    • 1.09 lot acres
    For Sale
    View listing
    $375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2963756
    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

    • Industrial land

    Property Details for 804 E Grover St E

    Year built
    1952
    Lot size
    1.09 lot acres
    Property size
    4,343 SF
    Zone code
    LI
    Property type
    Industrial land
    APN
    20006
    APU
    20006

    Description

    This 1.455-acre commercial land parcel in Shelby, North Carolina, presents a compelling investment opportunity. Located at 804 E Grover St, 28150, this level, grassy site boasts triple road frontage: 173 feet on East Grover Street, 262 feet on Julius Street, and 75 feet on Buffalo Street (rear access). The property is zoned NB (Neighborhood Business), allowing for a wide range of commercial uses, including the possibility of a drive-thru window. All city utilities are readily available. Its prime location is just half a mile from Cleveland Regional Medical Center (Atrium Health) and 200 feet south of a four-way signalized intersection at Wyke Road, ensuring high visibility and accessibility. The average daily traffic count ranges from 11,500 to 14,500 vehicles. The site offers ample parking for 50 vehicles and is considered virtually "shovel-ready," making it ideal for quick development. The seller will consider build-to-suit options for qualified tenants. The property's APN is 20006. The asking price is $375,000, representing a land value of $120,875 per acre.

    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
    -81.524
    Latitude
    35.3051
    CBSA code
    43140
    CBSA name
    SHELBY, 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
    $1,457
    $120,875
    $0.00
    $120,875
    -
    $120,875
    $0.00
    $120,875

    Comparable in this City

    • Value Estimation by Request
      14.72 Acres

      Washburn Switch Rd

      INDUSTRIAL - VACANT LAND • 14.72 Acres
      Washburn Switch Rd, Shelby, NC 28150
      View Details
    • Value Estimation by Request
      2.62 Acres

      512 Washburn Switch Rd

      INDUSTRIAL - VACANT LAND • 2.62 Acres
      512 Washburn Switch Rd, Shelby, NC 28150-9056
      View Details
    • Value Estimation by Request
      7.27 Acres

      Main St

      INDUSTRIAL - VACANT LAND • 7.27 Acres
      Main St, Shelby, NC 28150
      View Details
    • Value Estimation by Request
      0.22 Acres

      939 Marion St

      INDUSTRIAL - VACANT LAND • 0.22 Acres
      939 Marion St, Shelby, NC 28150-4740
      View Details
    • Value Estimation by Request
      2.05 Acres

      211 Buffalo St

      INDUSTRIAL - VACANT LAND • 2.05 Acres
      211 Buffalo St, Shelby, NC 28150-4135
      View Details
    • Value Estimation by Request
      0.09 Acres

      506 Booker St

      INDUSTRIAL - VACANT LAND • 784 SF
      506 Booker St, Shelby, NC 28150-4102
      View Details

    Similar Nearby for Sale

    • New
      $270,000
      1.92 Acres

      Shelby, NC Vacant Land

      1.924 acres of vacant land zoned for general industrial use.
      601 N Dekalb St, Shelby, NC 28150
      View Details
    • $36,540

      Land Parcel Near Shelby

      Land parcel suitable for home sites near Highway 74.
      000 New House Rd, Shelby, NC 28150
      View Details
    • $189,000
      9.46 Acres

      Cleared Land Parcel in Shelby

      9.46 acre cleared land parcel with road frontage.
      Polkville Rd, Shelby, NC 28150
      View Details
    • $495,000
      Pending

      Shelby Land with Highway Frontage

      Dual-zoned land with highway frontage in Shelby, North Carolina.
      2720 W Dixon Blvd, Shelby, NC 28150
      View Details
    • New
      $30,000
      0.22 Acres

      Shelby, NC Vacant Lot

      Residential lot in Shelby, NC with city utilities available.
      602 E Warren St, Shelby, NC 28150
      View Details
    • $1,794,240
      99.68 Acres

      Lattimore Road Commercial Land

      100-Acre Tract, Development Potential
      0 Lattimore Rd, Shelby, NC 28150
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing
      8,500 SF

      Shelby Retail Space: High Visibility

      Prime Shelby storefront, 7,000 sq ft available, ample parking.
      821 Lafayette St, Shelby, NC 28150
      View Details
    • $330,000
      2,073 SF

      Retail Space in Shelby, NC

      Retail space available for lease in Shelby, North Carolina.
      625 S Lafayette St, Shelby, NC 28150
      View Details
    • $6 SF/Yr
      13,516 SF

      Retail Space in Shelby, NC

      Retail property available for lease in Shelby, North Carolina.
      1404 S Lafayette St, Shelby, NC 28150
      View Details
    • $900,000
      2,970 SF

      Retail Space in Shelby, NC

      Retail property available for lease in Shelby, North Carolina.
      1198 Wyke 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
    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.
    804 E Grover St E
    Shelby, NC 28150
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.