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    Hickory Grove Rd Gastonia, NC 28120

    Sponsored
    For Sale
    $325,000

    1.2-Acre Lot, Mixed-Use Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1.2-acre parcel, located on Hickory Grove Rd in Mt. Holly, Gaston County, NC (zip code 28120), presents a rare investment opportunity. Currently zoned R-1, this nearly rectangular lot boasts significant road frontage: approximately 287 feet on Hickory Grove Road, plus an additional 175 feet and 210 feet of frontage on two adjacent side streets. The property's dimensions are roughly 275 feet across the back. Comprising two parcels (APN 179286 and 179287), totaling 1.2 acres (0.55 acres and 0.65 acres respectively), the land is being sold as a single unit. Its strategic location within a mixed-use and rapidly developing area makes it highly attractive for developers and investors seeking diverse zoning and usage possibilities. The asking price is $325,000. The seller requires the sale of both parcels together. This property offers substantial potential for future development given its size and prime location. The latitude and longitude coordinates are 35.30771855795337 and -81.0780439816747, respectively.

    Property Features for 0 Hickory Grove Rd

    General Information

    Property type
    Land
    Lot Size
    52,272 SF

    HighLights

    • 1.2‑acre parcel in Mt. Holly, NC (28120), zoned R‑1, offered at $325,000.
    • Significant road frontage: ~287 feet on Hickory Grove Rd, plus additional frontage on two side streets.
    • Comprises two parcels (APN 179286 & 179287), sold as a single unit.
    • Located in a rapidly developing mixed‑use area, ideal for developers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.078043981675
    Latitude
    35.307718557953

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    FAQs

    What type of property is this?
    Land - 1.2-Acre Lot, Mixed-Use Potential
    Where is this land located?
    The property is located at Hickory Grove Rd Gastonia, NC.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 1.2-acre parcel in Mt. Holly, NC (28120), zoned R-1, offered at $325,000.; Significant road frontage: ~287 feet on Hickory Grove Rd, plus additional frontage on two side streets.; Comprises two parcels (APN 179286 & 179287), sold as a single unit.
    (704) 460-4211
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    Hickory Grove Rd Gastonia, NC 28120
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    Gastonia, NC 28120
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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.

    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
    Hickory Grove Rd Gastonia, NC 28120
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