402 Patton AveMonroe, NC 28110

Property Details for 402 Patton Ave

Year built

1986

Lot size

0.98 AC

Property size (Sq ft)

10,350 SF

Zone code

GB MONROE

Property type

Retail properties

Property subtype

Strip malls

APN

09-226-198

APU

9226198

Description

This exceptional commercial property, located at 402 Patton Avenue, offers versatile office space in a high-traffic area of Monroe. Situated within a bustling strip center at a major intersection, this property boasts excellent visibility and accessibility. The space currently totals 1,335 to 2,670 square feet, offering significant flexibility for businesses of varying sizes. The landlord is open to dividing the space to accommodate specific tenant needs, resulting in a potentially higher price per square foot for smaller units. The interior is an open layout, providing ample opportunity for customized design and efficient workflow. A key feature is the inclusion of four bathrooms conveniently located at the rear of the property. This property is ideal for businesses seeking a prominent location with high foot traffic and the potential for customized space configurations. The property type is classified as Retail, Office, and Restaurant, making it suitable for a variety of commercial uses. The tenancy is single, offering exclusive use of the space. This presents a unique opportunity for a business to establish a strong presence in a thriving commercial area. The property's location at one of Monroe's busiest intersections ensures maximum exposure and accessibility for clients and employees.

• CAP approach

  CAP return

  Valuation

  6%

  $4,298,912

  6.5%

  $3,968,226

  7%

  $3,684,782

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,416,726

  Geo Method

  $4,416,726

• Alternative Use

  Use

  Valuation

  Residential

  $3,347,347

  Hospitality

  $3,066,152

  Educational

  $2,551,002

  Medical

  $2,638,736

  Retail

  $3,968,226

Location Insight

City

Monroe

County

Union

State

North Carolina

Latitude

34.9992

Longitude

-80.5544

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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