3923 Old Cherry Point RdNew Bern, NC 28560

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

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.

• 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

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