For Sale
$650,000

136 Elm RdGrover, NC 28073

High-Visibility Storage, Great Potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 5-acre commercial property in Grover, NC, offers a prime investment opportunity. Located on Elm Road with 700 feet of frontage on I-85, this vacant, light industrial-zoned lot boasts a brand-new RV and boat storage facility. Permitted in 2022, the site features 153 parking spaces, is fully graveled and fenced, and includes key-pad entry for enhanced security. Currently at 4% occupancy, the property presents significant upside potential for growth. The pro-forma NOI is $69,300, yielding a 10.66% cap rate. The asking price is $650,000. This owner/user investment is ideal for an entrepreneur looking to capitalize on the high-traffic location and established infrastructure. The property's strategic positioning along I-85 ensures excellent visibility and accessibility, making it an attractive destination for RV and boat owners. The existing infrastructure, including the gravel surface and fencing, minimizes upfront capital expenditures. The key-pad entry system provides a secure environment for stored vehicles. This is a rare opportunity to acquire a well-positioned, ready-to-operate storage facility with substantial room for expansion and increased profitability. The property's zoning allows for continued operation as a storage facility, and the existing infrastructure provides a solid foundation for immediate revenue generation. The land itself is valued at $0/acre, making the building and business the primary investment components.

Highlights

  • 5-acre commercial lot in Grover, NC, with 700 ft of I-85 frontage.
  • Light industrial zoning, featuring a new, 153-space RV & boat storage facility (2022 permit).
  • Currently 4% occupancy, offering significant upside potential.
  • $650,000 asking price, $69,300 projected NOI, 10.66% cap rate.
  • Fully graveled, fenced, key-pad entry for security.

Property Details for 136 Elm Rd

Property type
Self storage facilities
Lot Size (sq. ft)
217,800 SF

Location Insight

City
Grover
County
Cleveland
State
North Carolina
Latitude
35.169708706237
Longitude
-81.435937048583
136 Elm Rd, Grover, North Carolina

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136 Elm Rd
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