1940 Us Highway 70Hickory, NC 28602

Property Details for 1940 Us Highway 70

Year built

1978

Lot size

12.19 AC

Property size (Sq ft)

177,474 SF

Zone code

C-3

Property type

Retail properties

Property subtype

Other retail properties

APN

3711-07-59-5388

APU

371107595388

Description

This exceptional commercial property presents a unique investment opportunity in Hickory, North Carolina. The building, a former Sears location, boasts a substantial 165,959 square feet of vacant retail space, offering significant potential for redevelopment or repurposing. Situated on a generous 12-acre lot, the property provides ample room for expansion, parking, or additional development. The building's single-tenant history simplifies occupancy and management. The property's address is 1940 US Hwy 70 SE, Hickory, NC 28602, placing it in a high-traffic area with excellent visibility and accessibility. Located in Catawba County, this property benefits from the area's established infrastructure and growing economy. The sheer size of the building and the expansive lot offer unparalleled flexibility for a wide range of commercial uses. This is an exceptional opportunity to acquire a significant retail space in a prime location, ready for a new chapter. The property is currently available for lease, presenting a blank canvas for a visionary entrepreneur or developer. The substantial square footage and expansive land area provide a unique opportunity to create a landmark commercial development. This property is ideal for businesses seeking a large footprint and high visibility in a thriving North Carolina community. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $60,957,892

  6.5%

  $56,268,824

  7%

  $52,249,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $75,734,688

  Geo Method

  $75,734,688

• Alternative Use

  Use

  Valuation

  Residential

  $47,464,856

  Hospitality

  $43,477,556

  Educational

  $36,172,816

  Medical

  $37,416,852

  Retail

  $56,268,824

Location Insight

City

Hickory

County

Catawba

State

North Carolina

Latitude

35.705

Longitude

-81.3054

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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