1629 Freeway DrReidsville, NC 27320

  • Retail properties
  • 6,075 SF
For Sale
$875,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
1629 Freeway Dr, Reidsville, North Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,075
$239,000
$463,589
$702,589
-
$239,000
$463,589
$702,589

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