5 Lafayette StShelby, NC 28150

  • Retail properties
  • 8,200 SF
For Sale
$1,100,000 View listing

Property Details for 5 Lafayette St

Year built
1925
Lot size
0.09 AC
Property size (Sq ft)
8,200 SF
Zone code
CB
Property type
Retail properties
Property subtype
Retail space
APN
17087
APU
17087

Description

This exceptional investment opportunity presents a portfolio of three income-producing office buildings strategically located in uptown Shelby, North Carolina. All three properties are situated within two blocks of each other, offering convenient management and potential for synergistic operations. The portfolio comprises a total of 15 rental units spread across three addresses: 5 North Lafayette Street (13 units), 200 West Marion Street (2 units), and 131 West Marion Street (2 units). The main building at 5 North Lafayette Street boasts a substantial 13,082 square feet of leasable space. The entire portfolio sits on a combined 0.46-acre lot. Currently generating a robust annual rental income of $137,040, the portfolio demonstrates a strong net operating income (NOI) of $96,768, resulting in an attractive cap rate of 8.8%. This presents a compelling investment opportunity for those seeking a stable, high-yield return in a desirable uptown Shelby location. The proximity of the buildings allows for efficient management and potential for future expansion or consolidation. The current tenant base provides a consistent income stream, making this a low-risk, high-reward investment prospect. Detailed financial statements and property information are available upon request. This portfolio offers a rare chance to acquire a well-established, income-generating asset in a thriving urban core.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,816,496
    6.5%
    $2,599,842
    7%
    $2,414,139
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,499,242
    Geo Method
    $3,499,242
  • Alternative Use

    Use
    Valuation
    Residential
    $2,193,064
    Hospitality
    $2,008,835
    Educational
    $1,671,327
    Medical
    $1,728,806
    Retail
    $2,599,842
5 Lafayette St, Shelby, North Carolina

Location Insight

City
Shelby
County
Cleveland
State
North Carolina
Latitude
35.2916
Longitude
-81.5405
CBSA code
43140
CBSA name
SHELBY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$3,390
$29,520
$203,448
$232,968
-
$29,520
$203,448
$232,968

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