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Property profile & analytics
OFF-MARKET
Auto shops

507 Lafayette St Shelby, NC 28150-5838

3,306 SF 0.17 ac lot Built 1968
Individually Owned 3-yr Hold ~ Est. High Equity
Property ID
US53-2823297
Property summary
AI-generated overview

This exceptional turnkey restaurant opportunity is situated in the heart of vibrant downtown Shelby, North Carolina. The property boasts a 0.2-acre lot at 507 S Lafayette Street and is ideally positioned for high visibility and foot traffic, benefiting from its proximity to shops, entertainment, and local attractions. The interior offers a fully equipped commercial kitchen ready for immediate operation, eliminating the need for extensive upfront investment. A well-appointed bar area complements the spacious dining room, currently configured to comfortably seat up to 50 patrons. The establishment maintains an impressive 97.5 sanitation score, demonstrating a commitment to hygiene and operational excellence. The open floor plan provides flexibility for diverse business concepts, from upscale dining to casual eateries or even a unique retail venture. Handicap accessibility is a key feature, ensuring inclusivity for all patrons. The potential for outdoor seating further enhances the property's appeal. This is a rare chance to acquire a thriving business location with minimal setup time, allowing immediate focus on operations and growth. The asking price is $695,000.

Property profile
Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1968
Total area 3,306 SF
Lot 0.17 ac (7,598 SF)
Zoning code GB
APN 72353
UPID US53-2823297
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • San Miguel Mexican Store & Restaurant Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
San Miguel Mexican Store & Restaura · 3 yrs held
San Miguel Mexican Store & Restaura
since 2023
Last sale
$295,000
7 recorded transactions
2023
Price N/A
2023
$295,000
2020
$126,000
2017
Price N/A
2014
Price N/A
2010
Price N/A
2010
Price N/A
Zoning & alternative use
GB · Shelby, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The GB business district is established as a district in which to accommodate a wide range of retail business, professional and personal services office and limited wholesale and warehousing uses, areas zoned as GB are generally located on the fringe of the central business district and along major highway corridors, residential uses are permitted at the sam…

Zone name General Business
General category COMMERCIAL
Zone area 1,307.36 ac
Source Realmo
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