Lexington Retail Opportunity For
For Sale
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19 Cotton Grove Rd, Lexington, NC 27292
Former convenience store with high visibility and strong traffic counts.
Property Size2,633 SF
Price / SF$313.33
Days on Market148
Property Features for 19 Cotton Grove Rd
General Information
Standard status
Active
Size
2,633 SF
Property subtype
Retail
Building Details
Year Built
2012
Listing Agency:
Oakdale Commercial Properties
(336) 705-1679
Listed By:
Brian Huckabee · License #331060
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 9 at 3:55PM
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 Oakdale Commercial Properties
Investment Insights
Based on property information with market context.
This property presents a retail opportunity in Lexington. The site formerly operated as a convenience store and includes an existing concrete parking lot. Underground storage tanks have been removed, and No Further Action (NFA) letters are available. The location benefits from high visibility and strong daily traffic counts. It also offers convenient access to major Lexington corridors. The property size is 2,633 square feet.
Key Highlights
- Great location near downtown
- Recently renovated kitchen
- Spacious backyard perfect for entertaining
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
$41,460
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
5.03%
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%
$829,200
$829.2K
Cap Rate 7%
$592,286
$592.3K
Cap Rate 9%
$460,667
$460.7K
Market Conditions
NOI Build-Up for 2,633 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
$56.9K $21.60/SF
− Vacancy
−$1.6K −$0.60/SF
EGI
$55.3K $21.00/SF
− OpEx
−$13.8K −$5.25/SF
NOI
$41.5K $15.75/SF
Area
Davidson County, NC
Vacancy
2.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$829,200
Cap Rate 7%
$592,286
Cap Rate 9%
$460,667
Alternative Uses
Best Use
Specialty Retail
$592.3K
$518.3K – $691.0K
NOI $41,460 @ 7.0% cap · market cap 5.03%
Second Best
Retail
$460.7K
$403.1K – $537.5K
NOI $32,247 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$668.0K
$584.5K – $779.4K
NOI $46,762 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Home Improvements & Furnishings 14%
Dining 14%
Electronics 8%
KFC
Dining
6,438 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
6,391 visits/mo
0.5 miles
Speedway
Shops & Services
5,664 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,144 visits/mo
0.2 miles
Dollar General
Shops & Services
4,652 visits/mo
0.3 miles
Demographics for 27292, NC
39,337
Population
18,749
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
85%
High-School Grad
144.0 sq mi
ZIP Area
273
Density / Sq Mi
$54,468
Median Household Income
$34,776
Median Earnings
$831
Median Rent
$193,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Food Lion — 1104 S Main St, Lexington, NC 27292
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Former convenience store with high visibility and strong traffic counts.
Where is this grocery and convenience store located?
The property is located at 19 Cotton Grove Rd Lexington, NC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Great location near downtown; Recently renovated kitchen; Spacious backyard perfect for entertaining
