Retail Storefront
For Sale
$479,900
1818 Hickory Boulevard SW, Lenoir, NC 28645
For sale retail storefront property in Caldwell County, listed at $479,900.
Property Size1,800 SF
Price / SF$266.61
Days on Market129
Property Features for 1818 Hickory Boulevard SW
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Building Details
Year Built
1958
Listing Agency:
WALKER REAL ESTATE SERVICES LLC
(828) 851-1541
Listed By:
RHONDA WALKER · License #202018
(877) 770-3677
Source:
Corcoran
Added: Apr 30
Changed: Sep 4
Last Checked: Sep 5 at 9:19AM
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 WALKER REAL ESTATE SERVICES LLC
Investment Insights
Based on property information with market context.
This retail storefront property is offered for sale in Caldwell County. The listing is priced at $479,900.
The property’s address is 1818 Hickory Boulevard SW, Lenoir, NC 28645. Based on the available information, the offering is categorized as a storefront/retail commercial real estate asset, making it suitable for prospective tenants or buyers looking for a retail-focused space.
Additional details such as the building’s size, interior layout, frontage, condition, and any specific income or tenant information were not provided with the listing data.
The property’s address is 1818 Hickory Boulevard SW, Lenoir, NC 28645. Based on the available information, the offering is categorized as a storefront/retail commercial real estate asset, making it suitable for prospective tenants or buyers looking for a retail-focused space.
Additional details such as the building’s size, interior layout, frontage, condition, and any specific income or tenant information were not provided with the listing data.
Key Highlights
- Retail storefront property for sale in Caldwell County
- Listed at $479,900
- Year built: 1958
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,106
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,120
$362.1K
Cap Rate 7%
$258,657
$258.7K
Cap Rate 9%
$201,178
$201.2K
Market Conditions
NOI Build-Up for 1,800 SF
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.
Gross rent
$27.0K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$25.9K $14.37/SF
− OpEx
−$7.8K −$4.31/SF
NOI
$18.1K $10.06/SF
Area
Caldwell County, NC
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,120
Cap Rate 7%
$258,657
Cap Rate 9%
$201,178
Alternative Uses
Best Use
Retail
$258.7K
$226.3K – $301.8K
NOI $18,106 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$410.8K
$359.4K – $479.2K
NOI $28,754 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28645, NC
46,004
Population
21,558
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
82%
High-School Grad
329.1 sq mi
ZIP Area
140
Density / Sq Mi
$50,529
Median Household Income
$34,526
Median Earnings
$726
Median Rent
$157,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront property in Caldwell County, listed at $479,900.
Where is this storefront property located?
The property is located at 1818 Hickory Boulevard SW Lenoir, NC.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Retail storefront property for sale in Caldwell County; Listed at $479,900; Year built: 1958
