16 Talbert BlvdLexington, NC 27292

Property Details for 16 Talbert Blvd

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.17 AC

Property size (Sq ft)

1,216 SF

Zone code

B

Property type

Office properties

Property subtype

Office buildings

APN

11-071-0-00C-0005-A

APU

11071000C0005A

Description

This exceptional investment opportunity presents a prime commercial property located at 16 & 18 S Talbert Blvd, Lexington, NC 27292. The property encompasses two buildings constructed in 1940 and 1958, totaling 900-1300 square feet, situated on a 1.69-acre lot (APN: 11071000C0006, 11071000C0005A, 11071000C0005, 11071000C0004, 11071000C0003) and zoned B. Currently boasting 100% occupancy since January 1, 2015, the property generates a strong NOI of $21,600, resulting in a 4.55% cap rate. The multi-tenant configuration includes a salon, currently leased month-to-month at $600, and a special needs center leased at $1,200 per month. The property also includes three additional parcels behind the buildings, adjacent to a gas station. Note that a portion of the land lies within a floodplain. This value-add investment presents significant potential for future growth and income enhancement, making it an attractive opportunity for discerning investors. The asking price is $475,000.

• CAP approach

  CAP return

  Valuation

  6%

  $133,409

  6.5%

  $123,147

  7%

  $114,351

• Comparable approach

  Method

  Valuation

  Relative Method

  $154,350

  Geo Method

  $205,917

• Alternative Use

  Use

  Valuation

  Residential

  $152,703

  Hospitality

  $139,875

  Educational

  $116,374

  Medical

  $120,376

  Retail

  $181,026

Location Insight

City

Lexington

County

Davidson

State

North Carolina

Latitude

35.8145

Longitude

-80.2479

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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