Single-Tenant Retail Store with Long
705 Blowing Rock Blvd Lenoir, NC 28645
705 Blowing Rock Blvd, Lenoir, NC, 28645
$1,752,000
For Sale
$1,752,000
Single-tenant retail store with a recently extended 10-year term and ongoing paint and powder refresh.
Property Size10,000 SF
Price / SF$175.20
Days on Market70
Property Features for 705 Blowing Rock Blvd
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2002
Properties For Sale
at 705 Blowing Rock Blvd Contact us
Listing agency
SRS Real Estate Partners - Los Angeles
(303) 884-6659
Listed by
Steven Roberts
(303) 884-6659
Source
Srsre
Added: May 14 Updated: Jul 21 at 4:40PM Checked: Jul 21 at 4:40PM
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 SRS Real Estate Partners - Los Angeles
Investment Insights
Based on property information with market context.
This single-tenant retail store is currently benefiting from a recently signed 10-year lease extension, with more than 11 years remaining and one additional five-year option to extend. The lease includes $0.50 per square foot increases every five years, with an additional adjustment at the beginning of the option period.
The store is also undergoing a “paint & powder” refresh. The asset is located at 705 Blowing Rock Blvd in Lenoir, North Carolina.
According to Placer.AI, the store ranks in the 91st percentile within a 50-mile radius and the 78th percentile in North Carolina, reflecting its relative performance among comparable locations.
The store is also undergoing a “paint & powder” refresh. The asset is located at 705 Blowing Rock Blvd in Lenoir, North Carolina.
According to Placer.AI, the store ranks in the 91st percentile within a 50-mile radius and the 78th percentile in North Carolina, reflecting its relative performance among comparable locations.
Key Highlights
- Single‑tenant retail store built in 2002.
- Tenant recently signed a new 10‑year lease extension.
- Lease includes over 11 years remaining with one (5‑year) extension option.
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 | $150.0k | $15.00 |
| − Vacancy | −$6.3k | −$0.63 |
| EGI | $143.7k | $14.37 |
| − OpEx | −$43.1k | −$4.31 |
| NOI | $100.6k | $10.06 |
10,000 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,590 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,744 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dollar Tree
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Single-tenant retail store with a recently extended 10-year term and ongoing paint and powder refresh.
Where is this storefront property located?
The property is located at 705 Blowing Rock Blvd Lenoir, NC.
What is the asking price?
The asking price for this property is $1,752,000.
What are key features of this property?
This property features: Single‑tenant retail store built in 2002.; Tenant recently signed a new 10‑year lease extension.; Lease includes over 11 years remaining with one (5‑year) extension option.
