Highway Business Stucco
For Sale
$699,000
3739 Hickory Boulevard, Hudson, NC 28638
Freestanding, custom-built stucco building with high-end finishes and rental income.
Property Size3,675 SF
Price / SF$190.20
Days on Market578
Property Features for 3739 Hickory Boulevard
General Information
Standard status
Active
Size
3,675 SF
Property subtype
Commercial
Amenities
Carpet Flooring
Natural Gas Heating
Wood Flooring
Building Details
Year Built
2000
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES BLUE RIDGE REALTORS
(828) 438-3660
Listed By:
MIKE WATTS · License #170338
Source:
Corcoran
Added: Jan 14, 2025
Changed: Aug 14
Last Checked: Aug 14 at 9:53AM
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 BERKSHIRE HATHAWAY HOMESERVICES BLUE RIDGE REALTORS
Investment Insights
Based on property information with market context.
Located on Highway 321 with a high traffic count of 30,000 cars per day, this freestanding, custom-built stucco building offers 3,675 heated square feet and presents various business opportunities. The three-story building features architectural design, custom cabinetry, high-end finishes, and attention to detail. The main level includes cathedral ceilings, a modern design with hardwood and Amtico flooring, custom paintwork, and metal accents, along with a lobby/reception area, three offices, a conference room, a kitchen, and a bathroom. The second level features an open-concept common area, two additional offices, a bathroom, and a storage room. The finished basement, comprising 1,151 heated square feet, has a separate entrance and dedicated parking, making it suitable for rental income or expanded business use. The basement level is currently under lease until December 31, 2026. Zoned for Highway Business, this property is suitable for a variety of ventures and is available fully furnished.
Key Highlights
- Prime location on HWY 321 with high traffic (30,000 cars per day).
- Finished basement (1,151 HSF) with separate entrance, dedicated parking, and existing lease until 12‑31‑2026, providing immediate rental income.
- Zoned for Highway Business, suitable for a variety of ventures.
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
$43,083
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
6.16%
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%
$861,660
$861.7K
Cap Rate 7%
$615,471
$615.5K
Cap Rate 9%
$478,700
$478.7K
Market Conditions
NOI Build-Up for 3,675 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
$73.6K $20.04/SF
− Vacancy
−$16.2K −$4.41/SF
EGI
$57.4K $15.63/SF
− OpEx
−$14.4K −$3.91/SF
NOI
$43.1K $11.72/SF
Area
Caldwell County, NC
Vacancy
22.00%
Lease Rate
$20.04 /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%
$861,660
Cap Rate 7%
$615,471
Cap Rate 9%
$478,700
Alternative Uses
Best Use
Office B
$615.5K
$538.5K – $718.1K
NOI $43,083 @ 7.0% cap · market cap 6.16%
Second Best
Retail
$528.1K
$462.1K – $616.1K
NOI $36,967 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$838.7K
$733.8K – $978.4K
NOI $58,706 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 28638, NC
11,880
Population
4,961
Households
2.4
Avg Household Size
44
Median Age
19%
College-Educated
84%
High-School Grad
20.0 sq mi
ZIP Area
594
Density / Sq Mi
$58,914
Median Household Income
$36,330
Median Earnings
$693
Median Rent
$174,800
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?
Office building - Freestanding, custom-built stucco building with high-end finishes and rental income.
Where is this office building located?
The property is located at 3739 Hickory Boulevard Hudson, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime location on HWY 321 with high traffic (30,000 cars per day).; Finished basement (1,151 HSF) with separate entrance, dedicated parking, and existing lease until 12‑31‑2026, providing immediate rental income.; Zoned for Highway Business, suitable for a variety of ventures.
