1821 Hwy 70Hickory, NC 28602

Property Details for 1821 Hwy 70

Year built

1969

Lot size

1.02 AC

Property size (Sq ft)

9,630 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional redevelopment opportunity presents a 9,630-square-foot retail center situated on a 1.02-acre corner lot in Hickory, North Carolina. Located at 1821 Highway 70 SW, this property boasts high visibility and accessibility, with 344 feet of frontage on Highway 70 and an additional 144 feet on 19th Street SW. The property benefits from significant daily traffic counts, with over 18,500 vehicles passing by daily, according to NCDOT AADT data. Highway 70 is a four-lane road running parallel to Interstate 40, ensuring excellent exposure for businesses. The single-story building, constructed in 1969, is currently configured as a multi-tenant property with six units, three of which are currently leased. The property also includes a billboard generating additional income. This C-2 zoned property offers a compelling investment opportunity in a growing city, with a Net Operating Income (NOI) of $2,208. The asking price is $299,900, translating to $31.14 per square foot. The property is offered in a distressed sale condition and is under single ownership. The lease type is modified. This is a prime location for redevelopment and offers significant potential for increased revenue and return on investment.

Location Insight

City

Hickory

County

Catawba

State

North Carolina

Latitude

35.7225

Longitude

-81.371

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