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    1862 Us Highway 70 Hickory, NC 28602

    Sponsored
    For Sale
    Contact for pricing

    High-traffic retail land, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1-acre commercial land parcel presents a remarkable opportunity for retail development in Hickory, North Carolina. Situated along US Highway 70 SE, a primary retail corridor, this property boasts exceptional visibility and accessibility. The site benefits from an impressive daily traffic count exceeding 20,000 vehicles, ensuring significant exposure for any business. Its strategic location offers easy access to major transportation arteries, including Interstate 40 and US-321, further enhancing its appeal to potential tenants and customers. The property's immediate vicinity is anchored by a strong concentration of established national retailers, including Chick-fil-A, Chipotle, McDonald's, Starbucks, Five Guys, Panera Bread, and Longhorn Steakhouse, creating a vibrant and desirable retail environment. This prime location offers significant potential for a variety of retail uses, making it an ideal investment for developers seeking a high-traffic, well-established retail location in a thriving community. The property is located at 1862 US Hwy 70 SE, Hickory, NC 28602, in Catawba County. This is a rare opportunity to acquire a highly visible and accessible retail pad in a densely populated area with strong demographics. The property is available for sale or lease.

    Property Features for 1862 Us Highway 70

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    HighLights

    • 1‑acre commercial land parcel for sale or lease in Hickory, NC.
    • High‑traffic location with over 20,000 vehicles per day.
    • Excellent retail location near major national brands including Chick‑fil‑A, Chipotle, McDonald's, and more.
    • Convenient access to I‑40 and US‑321.
    Property Profile Location Intelligence

    Current Use by Public Records

    First Citizens Bank ... Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3064556
    Latitude
    35.706612

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    FAQs

    What type of property is this?
    Land - High-traffic retail land, prime location.
    Where is this land located?
    The property is located at 1862 Us Highway 70 Hickory, NC.
    What are key features of this property?
    This property features: 1-acre commercial land parcel for sale or lease in Hickory, NC.; High-traffic location with over 20,000 vehicles per day.; Excellent retail location near major national brands including Chick-fil-A, Chipotle, McDonald's, and more.
    (980) 498-3297
    Request Owner's contact information
    1862 Us Highway 70 Hickory, NC 28602
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    Hickory, NC 28602
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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
    1862 Us Highway 70 Hickory, NC 28602
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