25 Lazy LnEngelhard, NC 27824

Property Details for 25 Lazy Ln

Year built

1977

Lot size

1.00 AC

Property size (Sq ft)

7,384 SF

Zone code

1

Property type

Grocery and convenience stores

APN

8695330208

APU

8695330208

Description

This exceptional mixed-use property, situated on nearly six acres in Engelhard, North Carolina, presents a remarkable investment opportunity. The 12,000-square-foot building, constructed in 1977 and extensively renovated in 2017 and 2018, boasts two structures totaling 11,000 square feet of net rentable space. Currently, a thriving 3,000-square-foot laundromat occupies a portion of the building, generating consistent income with its seven commercial washers and six dryers. The remaining space previously housed a 7,300-square-foot grocery store, complete with shelving, refrigeration units, walk-in coolers, freezers, and checkout counters—all included in the sale. An additional 1,000 square feet is currently used for office and storage. The property features 10- to 15-foot ceilings, zoned heating and cooling with five AC condensers and large fuel-fired furnaces, a substantial generator, and two diesel fuel tanks (plus one leased propane tank). Ample parking is provided with over 40 spaces. The property includes additional indoor and detached storage areas and terrazzo flooring throughout. Located conveniently near the harbor and an airport with a 5,000-foot runway, this property offers unparalleled access to transportation and logistics. Zoned for mixed use, this property is ideally suited for a variety of commercial ventures, including retail, warehousing, shipping and receiving, or storage. The expansive 5.94-acre lot presents potential for future development. This turnkey operation, with its prime location and substantial existing infrastructure, represents a rare opportunity for significant return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,013,874

  6.5%

  $1,858,961

  7%

  $1,726,178

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,088,357

  Geo Method

  $4,271,207

• Alternative Use

  Use

  Valuation

  Residential

  $1,568,103

  Hospitality

  $1,436,374

  Educational

  $1,195,046

  Medical

  $1,236,146

  Retail

  $1,858,961

Location Insight

City

Engelhard

County

Hyde

State

North Carolina

Latitude

35.5078

Longitude

-75.9987

Property Tax & Assessments

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