2243 Lincolnton HwyCherryville, NC 28021

Property Details for 2243 Lincolnton Hwy

Year built

1988

Lot size

0.52 AC

Property size (Sq ft)

714 SF

Zone code

RET03

Property type

Retail properties

Property subtype

Retail space

APN

159032

APU

159032

Description

This exceptional commercial property encompasses approximately 0.94 acres of land situated on the highly visible Lincolnton Highway in Cherryville, North Carolina. The property is comprised of two contiguous parcels, offering flexibility for development or expansion. Its strategic location is a significant advantage, being just half a mile from a major retail anchor, the Cherryville Walmart, ensuring high visibility and convenient access for potential customers. The property is zoned B3 Commercial, providing a wide range of permitted uses. City water and sewer services are readily available, simplifying the development process and reducing infrastructure costs. The high traffic count on Lincolnton Highway guarantees significant exposure for any business established on this site. This presents a rare opportunity to acquire a well-positioned commercial property in a thriving area, ideal for a variety of commercial ventures. The 714 square foot building offers potential for immediate use or redevelopment. The combined factors of location, zoning, and infrastructure make this a compelling investment opportunity. Serious inquiries are encouraged to explore the potential of this prime commercial land.

• CAP approach

  CAP return

  Valuation

  6%

  $245,241

  6.5%

  $226,376

  7%

  $210,207

• Comparable approach

  Method

  Valuation

  Relative Method

  $304,690

  Geo Method

  $304,690

• Alternative Use

  Use

  Valuation

  Residential

  $190,957

  Hospitality

  $174,916

  Educational

  $145,528

  Medical

  $150,533

  Retail

  $226,376

Location Insight

City

Cherryville

County

Gaston

State

North Carolina

Latitude

35.3952

Longitude

-81.3453

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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