For Sale
$380,000

15 2Nd StLexington, NC 27292

Downtown Lexington storefront, 2 units, 100% occupied

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fully occupied, two-unit retail storefront at 15 E Second Street in Lexington, NC. The property, built in 1920, boasts 2,880 net rentable square feet across a 6,862 square foot lot, situated in a prime downtown location. Currently operating at 100% occupancy since November 22, 2022, with two established tenants, the property generates a strong net operating income (NOI) of $22,800. The building is classified as a Class B, single-story structure within a permitted U zoning district. Leases are modified, with automatic annual renewals and a termination clause for both landlord and tenant. The property benefits from its location in a designated opportunity zone, experiencing significant recent economic development and capital improvements. Its central location provides easy access to major interstates, including I-85 (Raleigh & Charlotte), I-285 (Winston-Salem), and Business 85 (High Point & Greensboro). This stabilized investment offers a compelling opportunity for a discerning buyer seeking a strong return in a thriving North Carolina market. The sale includes 100% ownership.

Highlights

  • Strong tenant occupancy with established local businesses.
  • Uptown Lexington benefits from significant recent capital improvements and robust small business growth, fueled by strong county-wide economic development.
  • Excellent highway access via I-85, I-285, and Business 85, providing easy commutes to major regional cities.

Property Details for 15 2Nd St

Property type
Retail properties, Retail space
Square Feet
2,600 SF
Class
B
Year Built
1920
Buildings
1
Stories
1
Units
2

Location Insight

City
Lexington
County
Davidson
State
North Carolina
Latitude
35.8247016
Longitude
-80.2517377
15 2Nd St, Lexington, North Carolina

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15 2Nd St
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