274 Graham Hopedale RdBurlington, NC 27217

Property Details for 274 Graham Hopedale Rd

Year built

1951

Lot size

0.56 AC

Property size (Sq ft)

5,959 SF

Zone code

O I

Property type

Turn key restaurants

APN

139790

APU

139790

Description

This exceptional 8,700 square foot mixed-use property, located at 274 North Graham Hopedale Road in Burlington, North Carolina, presents a unique redevelopment opportunity. The building, constructed in 1957 and extensively renovated in 2023, offers a versatile "vanilla shell" interior, ideal for a variety of uses. Currently vacant, this three-unit, three-story Class B building sits on a 1.194-acre lot and boasts 7,441 square feet of net rentable space. The asking price is $895,900, translating to $102.98 per square foot. Its prime location on the busy Graham Hopedale and US 70 corridor offers high visibility and accessibility, situated near government buildings and Alamance Health & Human Services. The property's zoning allows for diverse uses, including restaurants, medical offices, dental practices, and other essential services. The potential for an additional building pad on the sizable lot adds significant upside potential, making this an attractive owner-occupied investment or build-to-suit project. The property is offered with a gross lease type. This is a rare opportunity to acquire a newly renovated building in a high-traffic area with substantial growth potential. The property consists of three parcels.

• CAP approach

  CAP return

  Valuation

  6%

  $1,235,520

  6.5%

  $1,140,480

  7%

  $1,059,020

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,422,540

  Geo Method

  $1,422,540

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,287,580

  Mixed-Use / Specialty

  $1,110,740

  Hospitality / Lodging

  $781,488

  Office

  $1,077,400

  Institutional / Educational

  $1,145,550

  Residential Income

  $1,340,290

  Multifamily

  $1,749,800

  Automotive / Energy

  $981,897

  Parking / Income-Based Land

  $364,206

  Restaurant / Food Service

  $522,911

  Healthcare / Senior Housing

  $1,165,370

Location Insight

City

Burlington

County

Alamance

State

North Carolina

Latitude

36.0994

Longitude

-79.4063

CBSA code

15500

CBSA name

BURLINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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