Retail Storefront with Office
For Sale
$349,000
2026 12th Avenue NE, Hickory, NC 28601
Retail storefront building includes three private offices, a restroom, and a workshop/storage area.
Property Size1,945 SF
Days on Market35
Property Features for 2026 12th Avenue NE
General Information
Standard status
Active
Size
1,945 SF
Property subtype
Free Standing Store
Amenities
Size: 0.23, Size Units: Acres
Details: Central Air
Heating: Natural Gas
Days on Market: 0, Listing Price: 349000, Status: Active
Year Built: 1945, Construction Type: Site Built
City: Hickory, State: NC, Zip: 28601, County: Catawba
Sewer: Septic Installed, Water Source: City
Auction Y/N: 0
Building Details
Building Size
1,945 SF
Year Built
1945
Listing Agency:
Weichert, Realtors - Team Metro
(828) 781-1000
Listed By:
Steve Boyd · License #172830
(828) 781-1000
Source:
Blackstreaminternational
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 23 at 6:40AM
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 Weichert, Realtors - Team Metro
Investment Insights
Based on property information with market context.
This 1,425-square-foot building is currently configured as a retail storefront with three private offices, one restroom, and a workshop/storage area. The flexible interior layout supports a range of commercial uses, with distinct office space alongside a dedicated back-of-house work and storage component.
The property is positioned in a high-visibility setting along Springs Road, with convenient access and strong exposure on a well-traveled road. This makes it well suited for businesses that benefit from storefront presence and a functional mix of customer-facing space and private work areas.
The combination of storefront space, private offices, and an interior workshop/storage area provides a practical arrangement for both service-oriented operations and professional office needs.
The property is positioned in a high-visibility setting along Springs Road, with convenient access and strong exposure on a well-traveled road. This makes it well suited for businesses that benefit from storefront presence and a functional mix of customer-facing space and private work areas.
The combination of storefront space, private offices, and an interior workshop/storage area provides a practical arrangement for both service-oriented operations and professional office needs.
Key Highlights
- 1,425 SF commercial building currently configured as a retail storefront
- Interior layout includes three private offices, one restroom, and a workshop/storage area
- Flexible floor plan suited for retail, office, service‑based businesses, or professional space
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
$25,680
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
7.36%
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%
$513,600
$513.6K
Cap Rate 7%
$366,857
$366.9K
Cap Rate 9%
$285,333
$285.3K
Market Conditions
NOI Build-Up for 1,945 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
$42.0K $21.60/SF
− Vacancy
−$7.8K −$4.00/SF
EGI
$34.2K $17.60/SF
− OpEx
−$8.6K −$4.40/SF
NOI
$25.7K $13.20/SF
Area
Catawba County, NC
Vacancy
18.50%
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%
$513,600
Cap Rate 7%
$366,857
Cap Rate 9%
$285,333
Alternative Uses
Best Use
Office B
$366.9K
$321.0K – $428.0K
NOI $25,680 @ 7.0% cap · market cap 7.36%
Second Best
Retail
$303.2K
$265.3K – $353.8K
NOI $21,226 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$568.2K
$497.1K – $662.9K
NOI $39,771 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28601, NC
53,973
Population
23,400
Households
2.3
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
47.1 sq mi
ZIP Area
1,146
Density / Sq Mi
$67,839
Median Household Income
$41,697
Median Earnings
$951
Median Rent
$236,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail storefront building includes three private offices, a restroom, and a workshop/storage area.
Where is this storefront property located?
The property is located at 2026 12th Avenue NE Hickory, NC.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,425 SF commercial building currently configured as a retail storefront; Interior layout includes three private offices, one restroom, and a workshop/storage area; Flexible floor plan suited for retail, office, service‑based businesses, or professional space
