3923 Old Cherry Point RdNew Bern, NC 28560
- Retail properties
- 1,056 SF
Property Details for 3923 Old Cherry Point Rd
- Year built
- 1986
- Lot size
- 1.40 AC
- Property size (Sq ft)
- 1,056 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
- APN
- 7-032 -045
- APU
- 7032045
Description
This exceptional investment opportunity presents a well-established auto repair shop and gas station in New Bern, NC. Located on a 1.4-acre lot at 3923 Old Cherry Point Rd, this property boasts 4,128 square feet across two buildings, built in 1986 and renovated in 1993. The property enjoys a prime corner location with frontage on two busy roads, offering excellent visibility and accessibility. With 40 parking spaces and 100% occupancy, this turnkey operation includes all equipment. The business, operating successfully since 1986, benefits from a strong reputation and significant growth potential. An additional building is currently rented, providing extra income and expansion possibilities. The asking price is $780,000, with a 6.00% cap rate. The property is zoned NO ZONING and features APN 7-032-045. This is a rare chance to acquire a thriving business and valuable real estate in a high-growth area. Don't miss this opportunity to own a piece of New Bern's commercial landscape.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $346,445
- 6.5%
- $319,796
- 7%
- $296,953
-
Comparable approach
- Method
- Valuation
- Relative Method
- $540,420
- Geo Method
- $610,834
-
Alternative Use
- Use
- Valuation
- Residential
- $269,759
- Hospitality
- $247,098
- Educational
- $205,583
- Medical
- $212,653
- Retail
- $319,796
Location Insight
- City
- New Bern
- County
- Craven
- State
- North Carolina
- Latitude
- 35.0419
- Longitude
- -77.0016
- CBSA code
- 35100
- CBSA name
- NEW BERN, NC MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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