Downtown Conover Investment
106 1st Avenue S Conover, NC 28613
106 1st Avenue S, Conover, NC, 28613
$850,000
For Sale
$850,000
Commercial property with long-term tenants in downtown Conover.
Property Size4,262 SF
Price / SF$199.44
Days on Market290
Property Features for 106 1st Avenue S
General Information
- Standard status
- Active
- Size
- 4,262 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1970
Listing Agency
MOORESVILLE REALTY LLC
(704) 663-0990
Listed by
SALINA YANG
Source
Corcoran
Added: Oct 4, 2025 Updated: Jul 6 at 10:17 am Checked: Jul 19 at 4:48 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MOORESVILLE REALTY LLC
Investment Insights
Based on property information with market context.
This commercial property is located in downtown Conover, offering visibility and accessibility. The sale includes a main commercial building and a separate drive-thru building. Both buildings are currently occupied by long-term tenants, providing rental income. There is a parking lot between both buildings. The property has access to Interstate-40 and Hwy 70. The property contains 4,262 square feet and is suited for a variety of business uses.
Key Highlights
- Prime downtown Conover location offering high visibility and accessibility.
- Two buildings included: main commercial building and a separate drive‑thru building.
- Long‑term tenants currently occupy both buildings, ensuring immediate rental income.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.6k | $16.80 |
| − Vacancy | −$5.2k | −$1.21 |
| EGI | $66.4k | $15.59 |
| − OpEx | −$19.9k | −$4.68 |
| NOI | $46.5k | $10.91 |
4,262 SF · lease $16.80/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$664.5K
$581.4K – $775.2K
NOI $46,512 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,149 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
David Cline Signature ...
Construction Company
Catawba River Cabinets
Hardware & Home Improvement
Similar For Sale Nearby
Similar Off Market Nearby
- Twigs and Twine Floral Design, LLC — 412 1st Ave S, Conover, NC 28613
FAQs
What type of property is this?
Storefront property - Commercial property with long-term tenants in downtown Conover.
Where is this storefront property located?
The property is located at 106 1st Avenue S Conover, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime downtown Conover location offering **high visibility and accessibility**.; Two buildings included: main commercial building and a separate drive‑thru building.; Long‑term tenants currently occupy both buildings, ensuring immediate rental income.
