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

    Norwood Rd Statesville, NC 28677

    • Office buildings
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Dec 11, 2020
    $490,000
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3569576
    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

    • Office buildings

    Property Details for Norwood Rd

    Lot size
    0.17 lot acres
    Zone code
    O-1
    Property type
    Office buildings
    APN
    4745-60-8819.000
    APU
    4745608819000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $620,000
      ML approach
      $575,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8656
    Latitude
    35.7989
    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
    $466
    $40,560
    $5,280
    $45,840
    -
    $40,560
    $5,280
    $45,840

    Comparable in this City

    • Value Estimation
      $240,000
      0.08 Acres

      Davie Ave

      OFFICE BUILDING • 0.08 Acres
      Davie Ave, Statesville, NC 28677
      View Details
    • Value Estimation
      $260,000
      2,880 SF

      2487 Shelton Ave

      OFFICE BUILDING • 2,880 SF
      2487 Shelton Ave, Statesville, NC 28677-2764
      View Details
    • Value Estimation
      $240,000
      1,665 SF

      207 Broad St, Unit 209

      OFFICE BUILDING • 1,665 SF
      207 Broad St, Statesville, NC 28677-5259
      View Details
    • Value Estimation
      $120,000
      3,616 SF

      352 Ctr St

      OFFICE BUILDING • 3,616 SF
      352 Ctr St, Statesville, NC 28677-4038
      View Details
    • Value Estimation
      $255,000
      3,612 SF

      232 Ctr St, Unit 242

      OFFICE BUILDING • 3,612 SF
      232 Ctr St, Statesville, NC 28677-5236
      View Details
    • Value Estimation
      $315,000
      3,362 SF

      410 Frnt St

      OFFICE BUILDING • 3,362 SF
      410 Frnt St, Statesville, NC 28677-5972
      View Details

    Similar Nearby for Sale

    • $649,500
      0.41 Acres

      Professional Office with Residential Apartments

      Two-story brick building with office space and residential apartments.
      224 Harrill St, Statesville, NC 28677
      View Details
    • $895,500
      11,000 SF

      Commercial Building with Leased Spaces

      Commercial building featuring offices, roll-up doors, loading dock, and parking.
      1809 W Front St, Statesville, NC 28677
      View Details
    • $725,000
      5,724 SF

      Statesville Office Building For Sale

      Established income-producing investment property in Statesville, North Carolina.
      1835 Davie Ave, Statesville, NC 28677
      View Details
    • $595,000

      Wall St

      Office Properties & Spaces
      0 Wall St, Statesville, NC 28677
      View Details
    • $200,000
      0.64 Acres

      Statesville Office/Land Opportunity

      Versatile property with commercial zoning in a high-growth area.
      1225 Davie Ave, Statesville, NC 28677
      View Details
    • $300,000
      2,614 SF

      Downtown Statesville Office Building

      Prime Location, 8 Offices, Ample Parking
      233 Davie Ave, Statesville, NC 28677
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo
      8,712 SF

      Commercial Brick Building in Statesville

      Commercial brick building in high traffic area available for rent.
      1313 W Front St, Statesville, NC 28677
      View Details
    • $2,216 /Mo
      8,276 SF

      Statesville Commercial Building For Rent

      Professional office or retail building in Statesville's Central Business District.
      120 S Tradd St, Statesville, NC 28677
      View Details
    • $11 SF/Yr
      5,032 SF

      Renovated Flex Space with Office

      Recently renovated flex space with office and warehouse components.
      1523 Salisbury Ave, Statesville, NC 28677
      View Details
    • $1,800 /Mo
      43,560 SF

      Statesville Commercial Office Space Available

      Freestanding office space for lease in high-traffic area.
      1521 Newton Dr, Statesville, NC 28677
      View Details
    • $6,720 /Mo
      43,560 SF

      Statesville Office Space For Rent

      Large open office space with private offices and ample parking.
      1519 Newton Dr, Statesville, NC 28677
      View Details
    • $1,950 /Mo
      6,098 SF

      Downtown Statesville Office Space Available

      2,600+ sq ft office space in downtown Statesville, NC.
      233 Davie Ave, Statesville, NC 28677
      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.
    Norwood Rd
    Statesville, NC 28677
    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.