1204 Us Highway 21Sparta, NC 28675

Property Details for 1204 Us Highway 21

Year built

1996

Lot size

0.39 AC

Property type

Grocery and convenience stores

APN

3080057495

APU

3080057495

Description

This exceptional commercial property, located at 1204 US Highway 21 S in Sparta, NC, presents a unique investment opportunity. The building features two separately metered spaces, currently operating as a successful laundromat and a studio/office. The laundromat boasts fourteen new (2024) washers and twelve new (2024) dryers, all credit card and coin-operated, and is included in the sale. This section also includes several additional offices and a separate entrance. The second space is currently used as a studio, offering versatility for various business uses. The property's history includes use as a two-bay garage, with overhead doors still intact, allowing for easy conversion back to this configuration if desired. The paved parking lot was recently updated (within the last few years), ensuring ample parking for tenants and customers. High-speed fiber optic internet and a recently upgraded 400 AMP electrical service (2024) provide modern infrastructure. This income-producing property offers significant potential for growth and diverse uses, making it an attractive investment in a desirable location. The property sits on a 0-acre lot. The asking price is $345,000. The building's square footage is not currently available. This property is ready for a new owner to capitalize on its existing income stream and explore its many possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $2,739,761

  6.5%

  $2,529,010

  7%

  $2,348,367

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,433,970

  Geo Method

  $7,249,405

• Alternative Use

  Use

  Valuation

  Residential

  $2,133,315

  Hospitality

  $1,954,105

  Educational

  $1,625,792

  Medical

  $1,681,706

  Retail

  $2,529,010

Location Insight

City

Sparta

County

Alleghany

State

North Carolina

Latitude

36.4943

Longitude

-81.1064

Property Tax & Assessments

FAQs

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