521 Main StLexington, NC 27292

Property Details for 521 Main St

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.30 AC

Property size (Sq ft)

2,972 SF

Zone code

B

Property type

Retail properties

Property subtype

Gas stations

APN

11-113-0-00K-0003

APU

11113000K0003

Description

This exceptional retail property, located at 521 S Main Street in Lexington, NC, presents a unique investment opportunity. The 2600 square foot building boasts four bays, previously utilized as a successful, family-owned garage equipped with lifts. Its prime location on a high-traffic corner of Main Street ensures excellent visibility and accessibility. The property's strategic placement offers immediate proximity to a thriving commercial area, including a strip mall, KFC, AutoZone, and O'Reilly Auto Parts, guaranteeing high foot traffic and potential customer base. This sale is for the property only

• CAP approach

  CAP return

  Valuation

  6%

  $479,313

  6.5%

  $442,443

  7%

  $410,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $950,657

  Geo Method

  $1,268,262

• Alternative Use

  Use

  Valuation

  Residential

  $373,217

  Hospitality

  $341,865

  Educational

  $284,428

  Medical

  $294,209

  Retail

  $442,443

Location Insight

City

Lexington

County

Davidson

State

North Carolina

Latitude

35.8191

Longitude

-80.2584

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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