3923 Old Cherry Point RdNew Bern, NC 28560

  • Retail properties
  • 1,056 SF
For Sale
$780,000 View listing

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
3923 Old Cherry Point Rd, New Bern, North Carolina

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

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
$2,069
$175,000
$270,200
$445,200
-
$175,000
$270,200
$445,200

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