414 Water StLincolnton, NC 28092

Property Details for 414 Water St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.05 AC

Property size (Sq ft)

12,156 SF

Zone code

C-B

Property type

Commercial real estate

APN

488

APU

488

Description

This exceptional investment opportunity presents a 12,000-square-foot, two-story bar located at 414 E Water St, Lincolnton, NC 28092. The property, a beautifully renovated 1903 textile mill, currently houses BrickTree Brewing, operating under a triple-net (NNN) lease with a remaining term of 12.7 years (expiring July 31, 2037). The lease commenced August 1, 2020, and includes two five-year renewal options with a 5% rent increase per renewal. The property boasts a 5.49% cap rate and a strong NOI of $153,360, reflecting a price per square foot of $232.92. Situated on a 1.05-acre lot in the heart of downtown Lincolnton's entertainment district, the property features a taproom, beer garden, and venue space, along with ample on-site and nearby parking. The building, listed on the National Register of Historical Places, benefits from recently upgraded city water and sewer infrastructure. The property's C-B zoning allows for potential future expansion. This is a stabilized investment with 100% occupancy since August 1, 2020. The sale includes the building and land only

• Alternative Use

  Use

  Valuation

  Residential

  $3,251,084

  Hospitality

  $2,977,975

  Educational

  $2,477,640

  Medical

  $2,562,850

  Retail

  $3,854,107

Location Insight

City

Lincolnton

County

Lincoln

State

North Carolina

Latitude

35.4721

Longitude

-81.2514

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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