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    Freestanding Flex Building Title is generated by Realmo AI

    2553 FIRST AVE SOUTHWEST, Hickory, NC 28602

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    Divisible freestanding building on a high-visibility retail/industrial corridor, with newer HVAC and ample on-site parking.

    Type:Retail, Office, Industrial
    Property size:
    4,556 SF
    Lot size:
    0.34 Acres
    Added:
    May 29, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 6 at 3:16 am

    Property Features for 2553 FIRST AVE SOUTHWEST

    General Information

    Standard status
    Active
    Size
    4,556 SF
    Lot size
    0.34 Acres
    Property subtype
    Retail, Office, Industrial

    Building Details

    Year Built
    1976

    Spaces For Lease

    at 2553 FIRST AVE SOUTHWEST Contact us

    We can help!

    Listing Contact
    Caleb Rice
    Caleb Rice

    Listing agent Caleb Rice License #NC 299802

    Listing office C Rice and Associates

    Listing date May 29, 2026

    Source Crexi

    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 C Rice and Associates

    HighLights

    • $2,500/month lease for the full space; divisible into two tenants with available space ranging from 2,278–4,556 sq ft
    • Freestanding commercial building built in 1976 on a 0.34‑acre lot; zoned C‑4
    • Recent updates include newer roof HVAC units replaced in 2022
    • Flexible C‑4 use supports retail, office, auto service, medical/dental, convenience store, showroom, warehouse, and light industrial
    • High‑visibility traffic on 1st Avenue SW with approx. 6,000–9,000 vehicles per day
    • Ample on‑site parking with paved road frontage; 1.5–2 miles to I‑40 Exit 121 and approx. 2–3 miles to the I‑40/US‑321 interchange

    Overview

    This freestanding commercial building offers flexible space that can support single or dual tenancy. The property includes 2,278–4,556 square feet that is divisible for two separate tenants, with the landlord open to build-out modifications for dividing the space. Built in 1976, the building sits on a 0.34-acre lot and is zoned C-4, allowing a wide range of commercial uses such as retail, office, auto service, medical/dental, convenience store, showroom, warehouse, and light industrial. Recent updates include newer roof HVAC units replaced in 2022, and the site provides ample on-site parking and paved road frontage for straightforward access.

    The property is located along 1st Avenue SW in Hickory and is positioned for strong daily exposure, with traffic volume estimated at approximately 6,000–9,000 vehicles per day. It also offers convenient regional connectivity, with Interstate 40 about 1.5–2 miles away (Exit 121) and the I-40/US-321 interchange approximately 2–3 miles from the property, supporting north-south travel toward Charlotte, Boone, and beyond.

    The layout and zoning make this building a practical fit for businesses that need flexibility in operations or want to share occupancy with a complementary second tenant. It is available for lease with a minimum 3-year term, and the landlord is open to accommodating divided-suite needs while keeping the option for a full-space tenant.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3821852
    Latitude
    35.7290229

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    FAQs

    What type of property is this?
    Flex space - Divisible freestanding building on a high-visibility retail/industrial corridor, with newer HVAC and ample on-site parking.
    Where is this flex space located?
    The property is located at 2553 FIRST AVE SOUTHWEST Hickory, NC.
    What are key features of this property?
    This property features: $2,500/month lease for the full space; divisible into two tenants with available space ranging from 2,278–4,556 sq ft; Freestanding commercial building built in 1976 on a 0.34‑acre lot; zoned C‑4; Recent updates include newer roof HVAC units replaced in 2022
    (828) 502-9197 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Caleb Rice
    Caleb Rice
    Real Estate License ID: NC 299802
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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