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    954 Blowing Rock Blvd Lenoir, NC 28645

    Sponsored
    For Sale
    $1,571,703

    Established Restaurant, Net Lease, High NOI

    Property size:
    6,598 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: acquire the established Dodge City Steak House in Lenoir, North Carolina. This thriving restaurant, located on US Highway 321, benefits from a prime location surrounded by successful businesses, ensuring consistent customer traffic. The 6,598 square foot building features a well-appointed dining area, a fully equipped kitchen designed for efficiency, a welcoming bar, and ample parking. The current lease is a Net Lease (NNN) with a remaining term of approximately 1.6 years, followed by two five-year options. The lease commenced July 1, 2021, and expires June 30, 2026. Annual rent bumps are set at 3%. The property sits on 1.22 acres of land. The asking price is $1,571,703, representing a 6.75% cap rate with a current Net Operating Income (NOI) of $106,089. This is a single-tenant property with no credit rating available for the tenant. This presents a rare chance to own a cornerstone of culinary excellence in a vibrant community. The restaurant's strong reputation and loyal customer base make this a compelling investment prospect with significant potential for future growth. The property is situated in Caldwell County, North Carolina, with the address being 954 Blowing Rock Blvd, Lenoir, NC 28645.

    Property Features for 954 Blowing Rock Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    6,598 SF
    Lot Size
    53,143 SF

    HighLights

    • Rare opportunity to acquire the established Dodge City Steak House in Lenoir, NC.
    • Prime location on US Hwy 321 in Lenoir, NC, with surrounding thriving businesses.
    • Highly reputable steakhouse with a strong local following.
    • 6,598 SF building with dining area, full kitchen, bar, and ample parking.
    • Net lease investment with a 6.75% cap rate, $106,089 NOI, and 1.6 years remaining on a 5‑year lease with two 5‑year options and 3% annual rent bumps.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dodge City Steakhouse ... Steak House Dodge City Steakhouse ... American Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.5263455
    Latitude
    35.9282668

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, Net Lease, High NOI
    Where is this restaurant located?
    The property is located at 954 Blowing Rock Blvd Lenoir, NC.
    What is the asking price?
    The asking price for this property is $1,571,703.
    What are key features of this property?
    This property features: Rare opportunity to acquire the established Dodge City Steak House in Lenoir, NC.; Prime location on US Hwy 321 in Lenoir, NC, with surrounding thriving businesses.; Highly reputable steakhouse with a strong local following.
    Request Owner's contact information
    954 Blowing Rock Blvd Lenoir, NC 28645
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    Lenoir, NC 28645
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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
    954 Blowing Rock Blvd Lenoir, NC 28645
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