3763 1St AveHickory, NC 28602

Property Details for 3763 1St Ave

Year built

1957

Construction

WOOD FRAME

Lot size

0.45 AC

Property size (Sq ft)

2,592 SF

Zone code

MIXED USE IN SPEC AREAS

Property type

Retail properties

Property subtype

Gas stations

APN

32012

APU

32012

Description

This exceptional 0.45-acre property at 3763 1st Avenue SW in Hickory, NC, presents a significant opportunity for automotive entrepreneurs and investors. Currently configured as a service station, the property boasts four spacious service bays, each equipped to handle a variety of automotive services and repairs. The high ceilings, measuring 12 feet, comfortably accommodate most automotive lifts, ensuring efficient workflow. A key advantage is the inclusion of a fenced storage lot at the rear of the building, providing secure space for vehicle storage, inventory, or expansion of operations. This secure area adds significant flexibility and operational efficiency. The property is priced at $175,000 and offers substantial potential for a savvy buyer. While some updating is needed, this presents a unique chance to renovate and customize the space to perfectly align with your business vision. The location in West Hickory/Long View offers excellent visibility and accessibility, making it an ideal spot for a thriving automotive-related business. The existing infrastructure provides a solid foundation for immediate operation, minimizing initial setup costs and allowing for a rapid return on investment. Don't miss this chance to acquire a well-positioned property with significant upside potential. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $890,287

  6.5%

  $821,804

  7%

  $763,103

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,106,102

  Geo Method

  $1,106,102

• Alternative Use

  Use

  Valuation

  Residential

  $693,222

  Hospitality

  $634,988

  Educational

  $528,302

  Medical

  $546,472

  Retail

  $821,804

Location Insight

City

Hickory

County

Burke

State

North Carolina

Latitude

35.7261

Longitude

-81.3986

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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