Corner Lot Retail Storefront
For Sale
$1,100,000
20904 Catawba Ave, Cornelius, NC 28031
Retail storefront on a premium corner lot on Catawba Avenue with strong downtown visibility.
Property Size2,567 SF
Price / SF$428.52
Days on Market96
Property Features for 20904 Catawba Ave
General Information
Standard status
Active
Size
2,567 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1969
Listing Agency:
Daedalus Realty LLC
Listed By:
Judy Simmons
(704) 890-3907
Source:
Lewisandkirk
Added: Jul 17
Changed: Oct 11
Last Checked: Oct 7 at 2:17PM
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 Daedalus Realty LLC
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Investment Insights
Based on property information with market context.
This retail storefront property is offered for sale on a premium corner lot along Catawba Avenue. The seller notes strong downtown visibility and positions the site for a wide range of retail and service concepts, including uses that may be approved by the city of Cornelius.
The property is described as being in the heart of Downtown Cornelius, just steps from active shops, cafés, restaurants, nightlife, Cornelius Elementary School, and the library. The remarks also cite proximity to the Cain Center for the Arts and quick access to I-77 (Exit 28), about a quarter mile away.
The seller lists possible uses pending approval of the city of Cornelius, including bicycle shop, coffee shop, brewery, restaurant, transmission shop, and muffler shop.
The property is described as being in the heart of Downtown Cornelius, just steps from active shops, cafés, restaurants, nightlife, Cornelius Elementary School, and the library. The remarks also cite proximity to the Cain Center for the Arts and quick access to I-77 (Exit 28), about a quarter mile away.
The seller lists possible uses pending approval of the city of Cornelius, including bicycle shop, coffee shop, brewery, restaurant, transmission shop, and muffler shop.
Key Highlights
- Retail storefront on a premium corner lot along Catawba Avenue in downtown Cornelius.
- Built in 1969.
- About 0.25 miles to I‑77 (Exit 28) for quick highway access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,439
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,780
$628.8K
Cap Rate 7%
$449,129
$449.1K
Cap Rate 9%
$349,322
$349.3K
Market Conditions
NOI Build-Up for 2,567 SF
Gross rent
$46.2K $18.00/SF
− Vacancy
−$1.3K −$0.50/SF
EGI
$44.9K $17.50/SF
− OpEx
−$13.5K −$5.25/SF
NOI
$31.4K $12.25/SF
Area
Mecklenburg County, NC
Vacancy
2.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,780
Cap Rate 7%
$449,129
Cap Rate 9%
$349,322
Alternative Uses
Best Use
Retail
$449.1K
$393.0K – $524.0K
NOI $31,439 @ 7.0% cap · market cap 2.86%
Second Best
Industrial
$205.6K
$179.9K – $239.9K
NOI $14,393 @ 7.0% cap · market cap 1.31%
Theoretical Best
Office A
$829.5K
$725.8K – $967.7K
NOI $58,063 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
22k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Food Lion Grocery Store
Groceries
21,950 visits/mo
0.4 miles
Demographics for 28031, NC
30,836
Population
14,194
Households
2.2
Avg Household Size
43
Median Age
61%
College-Educated
97%
High-School Grad
14.0 sq mi
ZIP Area
2,203
Density / Sq Mi
$115,746
Median Household Income
$65,377
Median Earnings
$1,587
Median Rent
$497,400
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Retail storefront on a premium corner lot on Catawba Avenue with strong downtown visibility.
Where is this auto shop located?
The property is located at 20904 Catawba Ave Cornelius, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Retail storefront on a premium corner lot along Catawba Avenue in downtown Cornelius.; Built in 1969.; About 0.25 miles to I‑77 (Exit 28) for quick highway access.
