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

    940 Hanover St Gastonia, NC 28054-2452

    • Industrial properties
    • 7,865 SF
    • 0.74 lot acres
    OFF-MARKET
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1712867
    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

    • C & R Hard Chrome Service, Inc. / Plating Service

    Property Details for 940 Hanover St

    Year built
    1980
    Lot size
    0.74 lot acres
    Property size
    7,865 SF
    Zone code
    INDS1
    Property type
    Industrial properties
    APN
    221208
    APU
    221208

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $220,000
      Market price range: $102k - $363k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $300,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.1798
    Latitude
    35.2767
    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
    2024
    $2,429
    $32,230
    $195,010
    $227,240
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $390,000
      3,280 SF

      2608 Lowell Rd

      INDUSTRIAL (GENERAL) • 3,280 SF
      2608 Lowell Rd, Gastonia, NC 28054-1428
      View Details
    • Value Estimation
      $480,000
      34,913 SF

      209 Hancock St

      INDUSTRIAL (GENERAL) • 34,913 SF
      209 Hancock St, Gastonia, NC 28054-4661
      View Details
    • Value Estimation
      $815,000
      39,100 SF

      1220 Industrial Ave

      INDUSTRIAL (GENERAL) • 39,100 SF
      1220 Industrial Ave, Gastonia, NC 28054-4629
      View Details
    • Value Estimation
      $405,000
      30,000 SF

      2545 Ozark Ave

      INDUSTRIAL (GENERAL) • 30,000 SF
      2545 Ozark Ave, Gastonia, NC 28054-1423
      View Details
    • Value Estimation
      $605,000
      7,410 SF

      2500 Lowell Rd

      INDUSTRIAL (GENERAL) • 7,410 SF
      2500 Lowell Rd, Gastonia, NC 28054-3409
      View Details
    • Value Estimation
      $780,000
      157,963 SF

      1601 Marietta St

      INDUSTRIAL (GENERAL) • 157,963 SF
      1601 Marietta St, Gastonia, NC 28054-6334
      View Details

    Similar Nearby for Sale

    • $195,000
      0.31 Acres

      Gastonia Commercial Property For Sale

      Well-maintained commercial property with office, storage, and warehouse space.
      321 S Avon St, Gastonia, NC 28054
      View Details
    • $1,100,000
      8 SF

      Gastonia Warehouse Space For Sale

      8,970 sqft warehouse near I-85 and I-74 with fenced lot.
      1613 Warren Ave, Gastonia, NC 28054
      View Details
    • $1,600,000
      24,865 SF

      Gastonia Warehouse with Heavy Power

      24,865 SF warehouse with new roof and heavy power.
      505 N Modena St, Gastonia, NC 28054
      View Details
    • $1,600,000
      6,676 SF

      Gastonia Industrial Site For Sale

      High-visibility industrial site with commissary, live/work space, and ample storage.
      901 Dr Martin Luther King Jr Way, Gastonia, NC 28054
      View Details
    • Contact for pricing
      1.00 Acre

      Gastonia Commercial Land Outparcel

      One-acre C-3 zoned lot, I-85 visibility.
      1875 Remount Rd, Gastonia, NC 28054
      View Details
    • $67,500
      0.22 Acres

      Gastonia Commercial Land - $67,500

      Prime 0.22-acre lot, ideal for business.
      2948 Union Rd, Gastonia, NC 28054
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      36,500 SF

      Gastonia Industrial Space For Rent

      36,500 SF industrial space available for lease.
      1820 Spencer Mountain Rd, Gastonia, NC 28054
      View Details
    • $14 SF/Yr
      12,862 SF

      Gastonia Office Space For Lease

      Modern Office Building, Ample Parking
      110 Armstrong St, Gastonia, NC 28054
      View Details
    • Contact for pricing
      181,000 SF

      Gastonia Warehouse Space Available

      181,000 SF warehouse space for lease in Gastonia, NC.
      934 Cox Rd, Gastonia, NC 28054
      View Details
    • $15 SF/Yr
      2,100 SF

      Flex Space Warehouse For Rent

      2,100 SF flex space with office and drive-in door.
      108 Osceola St, Gastonia, NC 28054
      View Details
    • $9 SF/Yr
      24,500 SF

      Gastonia Warehouse and Office Space

      24,500 SF warehouse and office space for lease.
      1109 E Ozark Ave, Gastonia, NC 28054
      View Details
    • Contact for pricing
      6,342 SF

      Gastonia Office and Warehouse Space

      6,342 SF office and warehouse space available mid-summer 2025.
      2936 Rousseau Ct, Gastonia, NC 28054
      View Details
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    940 Hanover St
    Gastonia, NC 28054-2452
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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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