1046 Morganton BlvdLenoir, NC 28645

Property Details for 1046 Morganton Blvd

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Property size (Sq ft)

2,160 SF

Property type

Car washes

APN

06 37 7 10 LH

APU

0637710LH

Description

This exceptional business opportunity presents a thriving car wash located at 1046 Morganton Blvd SW, Lenoir, NC 28645. Priced at $1,200,000, this value-add investment includes a 1-acre lot and a substantial building. The car wash boasts a 70-foot tunnel equipped with six free and four pay vacuum stations, ensuring diverse revenue streams. An additional building on the property features two detail bays and an office, providing further operational flexibility and income potential. The existing business model incorporates a subscription service, adding a recurring revenue component. This established car wash offers significant upside potential for a savvy investor looking to capitalize on a proven business model in a desirable location within Caldwell County. The property's size and existing infrastructure provide ample room for expansion and improvement, allowing for further revenue generation and increased profitability. This turnkey operation is ready for a new owner to step in and continue its success. The property's location in Lenoir, North Carolina, offers excellent visibility and accessibility, ensuring a steady flow of customers.

• CAP approach

  CAP return

  Valuation

  6%

  $741,906

  6.5%

  $684,836

  7%

  $635,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $921,752

  Geo Method

  $921,752

• Alternative Use

  Use

  Valuation

  Residential

  $577,685

  Hospitality

  $529,156

  Educational

  $440,252

  Medical

  $455,393

  Retail

  $684,836

Location Insight

City

Lenoir

County

Caldwell

State

North Carolina

Latitude

35.9043

Longitude

-81.5389

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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