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    Hickory Industrial Warehouse Opportunity Title is generated by Realmo AI

    719 Old Lenoir Road, Hickory, NC 28601

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    For Sale
    $1,500,000

    COMMERCIAL - Hickory, NC

    Property size:
    72,557 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $20/SF
    Added:
    Mar 13, 2026
    Days on Market:
    63
    Last Refresh:
    May 14 at 10:06 pm

    Property Features for 719 Old Lenoir Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    IND
    Bathrooms
    19
    Rooms
    Bathroom 4, Bathroom 1, Bathroom 17, Bathroom 18, Bathroom 8, Bathroom 12, Bathroom 2, Bathroom 6, Bathroom 9, Bathroom 10, Bathroom 13, Bathroom 5, Bathroom 3, Bathroom 11, Bathroom 16, Bathroom 14, Bathroom 7, Bathroom 19, Bathroom 15
    Parking
    59
    Fencing
    Fenced
    Standard status
    Active
    APN
    2793169356710000
    Size
    72,557 SF
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Description
    LOT PT 3-10 & PT 15-20 PL 1-7

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1943
    Floors in Building
    2
    Building materials
    Brick Full, Metal

    We can help!

    Listing Contact
    Kelsie Blevins

    Listing agent Kelsie Blevins

    Listing office Realty Executives of Hickory 785 Hwy 70 SW, Hickory, NC

    Listing date Mar 13, 2026

    MLS# 4356957

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Massive 72,557 SF industrial warehouse on nearly 2 acres, offering versatile use.
    • Significant income upside potential through lease‑up to market rents.
    • Located in Hickory, NC, a rapidly growing market with easy access to major highways.
    • Recently renovated in 2024, blending historic character with modern functionality.
    • Structurally certified, compliant with 2018 NC Building Code, with no structural deficiencies identified.
    • Features include loading docks, a 9,000 lb capacity material lift, wet pipe sprinkler system, gated entry, and 59 parking spaces.

    Overview

    Located in Hickory, North Carolina, The Art Mill is a 72,557 square foot two-story industrial warehouse situated on 1.996 acres. Constructed in 1943 and renovated in 2024, this property offers potential for warehouse, office, retail, flex space, or multi-tenant use. The building features heavy-duty masonry and steel construction, original hardwood floors throughout both levels, steel trusses with wood plank sheathing, and an 8-inch concrete perimeter wall foundation. The first floor provides 44,660 SF, and the second floor offers an additional 27,897 SF. The property includes 32,947 SF of open warehouse/storage space and 14,336 SF of flex/commercial space, with the second floor ready for additional commercial suites. It is upfit-ready with proposed multi-tenant layouts available for 10+ suites. Building features include loading docks with multiple dock-high doors, a BendPak HD-9 material lift (9,000 lb capacity), a wet pipe sprinkler system, 24-inch ventilation pipes, a gated entry with chain link fencing, and 59 paved parking spaces including 1 ADA space. Public water, sewer, and streets are in place, along with 3 on-site fire hydrants. The building is certified structurally sound by a licensed PE (March 2025), compliant with 2018 NC Building Code, with no structural deficiencies identified. The lift foundation is PE-certified (April 2025). Currently, five tenants generate $4,475 per month ($53,700 annually).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Disposable Isolation Gown, ... Medical Supply Store DMG Manufacturing Industrial Manufacturer Sure Southern Outdoors Fishing Store Atreeom LLC General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Old Lenoir Road Mini Storage — 632 11th st nw, hickory, nc 28601
    • A-Safe Storage LLC — 1570 14th Avenue ne and, 654 Old Lenoir Rd NW, Hickory, NC 28601
    • Valley Storage - Hickory — 1900 Clement Blvd NW, Hickory, NC 28601
    • Secured Self Storage — 1340 US-321, Hickory, NC 28601

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.360521
    Latitude
    35.74282

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    FAQs

    What type of property is this?
    Warehouse - 72,557 SF industrial warehouse on nearly 2 acres.
    Where is this warehouse located?
    The property is located at 719 Old Lenoir Road Hickory, NC.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Massive 72,557 SF industrial warehouse on nearly 2 acres, offering versatile use.; Significant income upside potential through lease‑up to market rents.; Located in Hickory, NC, a rapidly growing market with easy access to major highways.
    (828) 221-6070
    We can help!
    Listing Contact
    Kelsie Blevins
    Learn More
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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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