1629 Freeway DrReidsville, NC 27320

Property Details for 1629 Freeway Dr

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.78 AC

Property size (Sq ft)

6,075 SF

Zone code

HWY BUS REIDSVILLE

Property type

Turn key restaurants

APN

7994-11-56-6556-00

APU

79941156655600

Description

This exceptional mixed-use property, located at 1629 Freeway Dr. in Reidsville, North Carolina, presents a compelling investment opportunity. The 6,075 square foot building, constructed in 1990, sits on a sizable 1.78-acre lot and boasts 98 parking spaces, ensuring ample convenience for patrons and employees. Previously operating as the Libby Hill Seafood Restaurant, the property features a drive-thru, a spacious dining area, and excellent visibility from Freeway Drive, guaranteeing high traffic exposure. The property is zoned HB (Highway Business), offering flexibility for a variety of commercial uses. The building's substantial size and prime location make it ideal for a range of businesses seeking high visibility and accessibility. With its ample parking, drive-thru convenience, and established presence along a major thoroughfare, this property is poised for success. The 2022 property taxes totaled $10,075. This is a rare opportunity to acquire a well-situated, versatile commercial property in a growing area of North Carolina. The asking price is $875,000. Don't miss this chance to secure a valuable asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $979,753

  6.5%

  $904,388

  7%

  $839,788

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,943,217

  Geo Method

  $3,514,028

• Alternative Use

  Use

  Valuation

  Residential

  $762,885

  Hospitality

  $698,798

  Educational

  $581,392

  Medical

  $601,387

  Retail

  $904,388

Location Insight

City

Reidsville

County

Rockingham

State

North Carolina

Latitude

36.3488

Longitude

-79.6938

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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