Mixed-Use Property with Retail and
For Sale
$174,900
67 Falls Avenue, Granite Falls, NC 28630
Vacant mixed-use building with ground-floor retail and three residential units requiring renovation.
Property Size1,600 SF
Price / SF$109.31
Days on Market50
Property Features for 67 Falls Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
blank slate ripe for a total transformation
Site & Location
Traffic Count
5,800 vehicles/day
Highway Access
Yes
Additional Details
Floor
Ground
Amenities
Corner Lot
Metal Roof
Flat Roof
Parking Lot
Building Details
Year Built
1966
Listing Agency:
BOYD & HASSELL INDUSTRIAL-COMMERCIAL
(828) 322-1723
Listed By:
GAVIN MITCHELL · License #218225
(828) 234-7676
Source:
Corcoran
Added: Sep 11
Changed: Oct 27
Last Checked: Oct 30 at 2:27PM
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 BOYD & HASSELL INDUSTRIAL-COMMERCIAL
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Investment Insights
Based on property information with market context.
Located at 67 Falls Avenue in Granite Falls, this 1966 mixed-use property combines a ground-floor commercial area with three residential apartments. The retail portion contains 1,600+ square feet and is positioned directly off Highway 321, while the building is currently vacant and requires renovation.
The residential layout includes two upstairs apartments—a 2 bed/1 bath unit and a 1 bed/1 bath unit—along with a 2 bed/1 bath basement apartment. Highway 321 carries over 5,800 passing vehicles daily, providing established roadway exposure for the commercial component. The property offers a combined retail and residential configuration for an owner-user or redevelopment project.
The residential layout includes two upstairs apartments—a 2 bed/1 bath unit and a 1 bed/1 bath unit—along with a 2 bed/1 bath basement apartment. Highway 321 carries over 5,800 passing vehicles daily, providing established roadway exposure for the commercial component. The property offers a combined retail and residential configuration for an owner-user or redevelopment project.
Key Highlights
- 1,600+ square feet of ground‑floor retail space
- Three apartments: two 2 bed/1 bath units and one 1 bed/1 bath unit
- Directly off Highway 321 with over 5,800 passing vehicles daily
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,094
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,880
$321.9K
Cap Rate 7%
$229,914
$229.9K
Cap Rate 9%
$178,822
$178.8K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$24.0K $15.00/SF
− Vacancy
−$1.0K −$0.63/SF
EGI
$23.0K $14.37/SF
− OpEx
−$6.9K −$4.31/SF
NOI
$16.1K $10.06/SF
Area
Caldwell County, NC
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,880
Cap Rate 7%
$229,914
Cap Rate 9%
$178,822
Alternative Uses
Best Use
Retail
$229.9K
$201.2K – $268.2K
NOI $16,094 @ 7.0% cap · market cap 9.20%
Second Best
Multifamily LT 5
$171.1K
$149.8K – $199.7K
NOI $11,980 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$365.1K
$319.5K – $426.0K
NOI $25,559 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5,800 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
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Business Placement
Demographics for 28630, NC
19,772
Population
9,220
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
82%
High-School Grad
61.0 sq mi
ZIP Area
324
Density / Sq Mi
$65,713
Median Household Income
$41,407
Median Earnings
$808
Median Rent
$197,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant mixed-use building with ground-floor retail and three residential units requiring renovation.
Where is this mixed-use property located?
The property is located at 67 Falls Avenue Granite Falls, NC.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: 1,600+ square feet of ground‑floor retail space; Three apartments: two 2 bed/1 bath units and one 1 bed/1 bath unit; Directly off Highway 321 with over 5,800 passing vehicles daily
