2208 Dixon BlvdShelby, NC 28152

Property Details for 2208 Dixon Blvd

Year built

2001

Lot size

2.53 AC

Property size (Sq ft)

11,550 SF

Zone code

GB

Property type

Retail properties

Property subtype

Auto shops

APN

50981

APU

50981

Description

This exceptional investment opportunity presents a 11,550-square-foot auto shop located at 2208 E Dixon Blvd, Shelby, NC 28152. The property boasts a brand new 10-year net-net lease with Classic Collision, a reputable company operating over 310 locations. The lease commenced October 1, 2024, and includes a remaining term of 9.9 years with annual rent increases of 2%, effectively hedging against inflation. The property sits on a 2.49-acre lot and was built in 2001. The current occupancy is 100%, generating a strong net operating income (NOI) of $168,000 and a compelling 7.00% capitalization rate. The asking price is $2,400,000, translating to a price per square foot of $207.79. The property benefits from its strategic location on highly trafficked US-74 (40,500+ vehicles per day), near major dealerships, a regional shopping mall, national retailers, and Cleveland Community College. Furthermore, a significant development project, Blanton Farm, is underway, adding hundreds of residential units and commercial spaces to the area, promising future growth and increased property value. The lease includes three 5-year renewal options, providing long-term stability and investment security. This is a rare opportunity to acquire a high-performing, well-located asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,967,137

  6.5%

  $3,661,972

  7%

  $3,400,403

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,928,810

  Geo Method

  $4,928,810

• Alternative Use

  Use

  Valuation

  Residential

  $3,089,011

  Hospitality

  $2,829,517

  Educational

  $2,354,125

  Medical

  $2,435,087

  Retail

  $3,661,972

Location Insight

City

Shelby

County

Cleveland

State

North Carolina

Latitude

35.2635

Longitude

-81.4741

CBSA code

43140

CBSA name

SHELBY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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