Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Lot on Highway Title is generated by Realmo AI

    2 US-321, Hickory, NC 28602

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Corner lot with high traffic and pedestrian access.

    Type:Land
    Lot size:
    0.59 Acres
    Added:
    Jan 12, 2024
    Days on Market:
    862
    Last Refresh:
    May 12 at 10:17 pm

    Property Features for 2 US-321

    General Information

    Standard status
    Active
    Lot size
    0.59 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Robin Creel

    Listing agent Robin Creel License #NC 231845

    Listing office Coldwell Banker Boyd & Hassell

    Listing date Jan 12, 2024

    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 Coldwell Banker Boyd & Hassell

    HighLights

    • PRIME COMMERCIAL LOCATION on Hwy 321 and Aviation Walk
    • High traffic count: Over 35,000 vehicles per day on Hwy 321
    • Corner lot with over 450 feet of road frontage
    • Future traffic light intersection after Hwy 321 expansion
    • Located at the new pedestrian overpass crossing Hwy 321
    • Water and sewer lines available at 13th Ave Dr NW

    Overview

    This commercial corner lot is located along Highway 321 and Hickory's Aviation Walk, near the new pedestrian overpass. The property features over 450 feet of road frontage and will have a traffic light intersection following the expansion of Highway 321. Tax records indicate the acreage as 0.59 acre, though a portion may be affected by a permanent easement along the City Walk. The exact buildable acreage is pending a completed professional survey. Daily traffic counts along Highway 321 currently exceed 35,000 vehicles per day. The pedestrian traffic is expected to increase with the opening of the Aviation Walk. Water and sewer lines are available at 13th Ave Dr NW, according to the City of Hickory.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.364257
    Latitude
    35.732545

    Nearby Similar for Sale

    • $470,000
      4,000 SF

      Hickory Commercial Property with Vacant Lot

      Commercial building near downtown Hickory with development potential.
      729 1st Avenue SW, Hickory, NC 28602
      View Details
    • $1,500,000
      72,557 SF

      Hickory Industrial Warehouse Opportunity

      72,557 SF industrial warehouse on nearly 2 acres.
      719 Old Lenoir Road, Hickory, NC 28601
      View Details
    • $850,000

      Hickory Commercial Property Opportunity

      Versatile property suitable for offices, retail, medical, or education.
      925 NE 5th Street NE, Hickory, NC 28601
      View Details
    • $385,000

      Well-Maintained Duplex in Hickory, NC

      Desirable duplex with long-term tenants, full brick exterior, and upgrades.
      328-330 3rd Avenue SE, Hickory, NC 28602
      View Details
    • $2,400,000
      55,000 SF

      Updated Manufacturing Building in Hickory

      55,000 sqft updated manufacturing building ready for new use.
      2146 Highland Avenue NE, Hickory, NC 28601
      View Details
    • $399,900

      Duplex with Lake Hickory Views

      Charming duplex with year-round lake views near Lake Hickory.
      500 Steel Bridge Loop, Hickory, NC 28601
      View Details
    • $175,000

      Hickory, NC Buildable Land

      1.06-acre CC-2 zoned parcel in a key growth node.
      Springs Road NE, Hickory, NC 28601
      View Details
    • $599,900

      Hickory Commercial Property For Sale

      Commercial property with furniture store, restaurant, and storage building.
      3506 Springs Road NE, Hickory, NC 28601
      View Details
    • $325,000

      Waterfront Lot with Dock Permit

      Pristine waterfront lot with approved dock permit in Hickory.
      3431 6th Street Drive NW, Hickory, NC 28601
      View Details
    • $399,000

      34 Acres Near Highway 127

      34-acre land parcel near Highway 127, minutes from downtown Hickory.
      2295 1st Street SE, Hickory, NC 28602
      View Details
    • $675,000
      600 SF

      Hickory NC Multifamily Investment Opportunity

      Multifamily investment opportunity featuring 12 units on approximately 2.5 acres.
      218 37th Street SW, Hickory, NC 28602
      View Details
    • $442,750

      Hickory Land with Highway Access

      3.85 acres with exceptional access to major highways and amenities.
      Short Road, Hickory, NC 28602
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner lot with high traffic and pedestrian access.
    Where is this commercial land located?
    The property is located at 2 US-321 Hickory, NC.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: PRIME COMMERCIAL LOCATION on Hwy 321 and Aviation Walk; High traffic count: Over 35,000 vehicles per day on Hwy 321; Corner lot with over 450 feet of road frontage
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robin Creel
    Real Estate License ID: NC 231845
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 US-321, Hickory, NC 28602
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!