5 Lafayette StShelby, NC 28150

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 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.

• 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

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

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