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    1527 Union St Morganton, NC 28655

    Sponsored
    For Sale
    $837,000

    Prime Downtown Morganton development land.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 19.48-acre property, located at 1527 E Union St in Morganton, North Carolina (zip code 28655), presents a rare development opportunity. Situated in the heart of downtown Morganton, this expansive tract boasts 2.72 acres of road frontage, offering excellent visibility and accessibility. The property is zoned EID and benefits from the availability of sewer services, simplifying infrastructure development. This large parcel is uniquely positioned within city limits, providing access to all urban amenities while maintaining the potential for a variety of development projects. The asking price is $837,000, and the sale is structured to accommodate a 1031 exchange, making it an attractive investment opportunity for qualified buyers. Its diverse zoning (Commercial, Industrial, and Residential) allows for flexibility in project planning, catering to a wide range of development possibilities. The property's prime location and substantial size make it an ideal candidate for large-scale commercial, industrial, or residential developments, or a mixed-use project. This is a truly unique opportunity to acquire a significant land holding in a thriving downtown area. The latitude and longitude coordinates are 35.7534778, -81.6570341 respectively. Located in Burke County, this property offers significant potential for substantial return on investment.

    Property Features for 1527 Union St

    General Information

    Property type
    Land
    Lot Size
    848,549 SF

    HighLights

    • 19.5‑acre development site in Morganton, NC (28655), with 2.72 acres of road frontage.
    • Located in downtown Morganton, offering excellent visibility and access to city amenities.
    • EID zoning allows for commercial, industrial, and residential development.
    • Sewer available; asking price $837,000, 1031 exchange considered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Gym & Fitness Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.6570341
    Latitude
    35.7534778

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    FAQs

    What type of property is this?
    Land - Prime Downtown Morganton development land.
    Where is this land located?
    The property is located at 1527 Union St Morganton, NC.
    What is the asking price?
    The asking price for this property is $837,000.
    What are key features of this property?
    This property features: 19.5-acre development site in Morganton, NC (28655), with 2.72 acres of road frontage.; Located in downtown Morganton, offering excellent visibility and access to city amenities.; EID zoning allows for commercial, industrial, and residential development.
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    Morganton, NC 28655
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    Realmo Value Estimation

    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.

    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.

    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
    1527 Union St Morganton, NC 28655
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