Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1022 2Nd St Hickory, NC 28601

    Sponsored
    For Sale
    $4,736,365

    7.5% Cap Rate, 7+ Years Remaining, Strong Tenant

    Property size:
    18,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a single-tenant, net-leased medical office building in Hickory, North Carolina. The 18,950-square-foot building, constructed in 1958 and situated on a 1.5-acre lot, is 100% occupied by KEDPLASMA, a leading global plasma collection company. The current lease, commencing June 1, 2017, and expiring May 31, 2032, offers a substantial remaining lease term of 7.5 years. The lease includes four 5-year renewal options with a 10% rent increase every five years, providing significant long-term income growth. The property boasts a strong 7.50% cap rate and a Net Operating Income (NOI) of $355,227. The building benefits from its prime location on 2nd Street NE, a major thoroughfare with over 25,500 vehicles per day, surrounded by a dense retail corridor including Lowe's, Lowes Foods, Starbucks, and other national retailers. Its proximity to Lenoir-Rhyne University (1,600 students), Hickory High School (1,200 students), and Frye Regional Medical Center (355-bed hospital) further enhances its desirability. The property is supported by a corporate guaranty and serves a population of over 73,800 within a five-mile radius, with an average household income exceeding $86,889. This investment offers a compelling combination of strong tenant, long-term lease, and excellent location in a thriving market. The property is e-commerce resistant and benefits from the essential nature of the tenant's business. The asking price is $4,736,365.

    Property Features for 1022 2Nd St

    General Information

    Property type
    Medical space
    Square Feet
    18,950 SF
    Lot Size
    65,340 SF

    Building Details

    Year Built
    1958

    HighLights

    • E‑commerce resistant, essential business tenant.
    • KEDPLASMA, a leading global plasma collection company, is the tenant.
    • Corporate guaranty provided.
    • 7+ years remaining on primary lease term.
    • 10% rent escalations every five years.
    • High‑traffic location on 2nd Street NE (25,500 VPD).
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair 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
    -81.3343062
    Latitude
    35.7474711

    Nearby Similar for Sale

    • $1,150,000
      3.77 Acres

      Hickory Turnkey Townhome Complex

      Turnkey 10-unit townhome complex in Hickory, NC with strong rental history.
      1051 3Rd St SE, Hickory, NC 28602
      View Details
    • $1,199,000
      11.09 Acres

      Lakefront Home with Acreage Potential

      Lakefront home on 11+ acres with development potential.
      4749 16Th Street Dr NE, Hickory, NC 28601
      View Details
    • $434,500
      0.67 Acres

      Hickory Multi-Family Home

      Multi-family home on a 0.67-acre lot in Hickory, NC.
      615 11Th St SW, Hickory, NC 28602
      View Details
    • New
      $495,000
      0.43 Acres

      Hickory Commercial Building For Sale

      Full brick building with flexible office and workspace.
      615 Main Ave SW, Hickory, NC 28602
      View Details
    • $421,500
      0.24 Acres

      New Construction Duplex Near Downtown

      New construction duplex with modern features, near downtown Hickory.
      2030/2032 1St St SW, Hickory, NC 28602
      View Details
    • $599,900
      1.77 Acres

      Hickory Commercial Property For Sale

      Commercial property with furniture store, restaurant, and storage building.
      3506 Springs Rd NE, Hickory, NC 28601
      View Details
    • $169,000
      0.49 Acres

      Waterfront Lot in Hickory, NC

      Waterfront lot with 152 feet of frontage in Hickory.
      100 Old Ferry Ln, Hickory, NC 28601
      View Details
    • $2,950,000
      20.24 Acres

      Trucking Terminal with 50 Bays

      50-bay trucking terminal for streamlined operations in the transportation industry.
      754 18Th St NE, Hickory, NC 28601
      View Details
    • $495,000
      1.36 Acres

      Hickory, NC - High Visibility

      Highly visible property near high-traffic intersection, suitable for redevelopment.
      1632 2Nd Ave NW, Hickory, NC 28601
      View Details
    • $675,000
      600 SF

      Hickory NC Multifamily Investment Opportunity

      Multifamily investment opportunity featuring 12 units on approximately 2.5 acres.
      218 37Th St SW, Hickory, NC 28602
      View Details
    • $850,000
      0.91 Acres

      Hickory Commercial Property For Sale

      Versatile property suitable for offices, education, medical, retail, or specialty.
      925 NE 5Th St NE, Hickory, NC 28601
      View Details
    • $750,000
      600 SF

      Hickory NC Multifamily Investment

      Multifamily investment opportunity with 10 units on approximately 2.4 acres.
      303 37Th St SW, Hickory, NC 28602
      View Details

    FAQs

    What type of property is this?
    Medical space - 7.5% Cap Rate, 7+ Years Remaining, Strong Tenant
    Where is this medical space located?
    The property is located at 1022 2Nd St Hickory, NC.
    What is the asking price?
    The asking price for this property is $4,736,365.
    What are key features of this property?
    This property features: E-commerce resistant, essential business tenant.; KEDPLASMA, a leading global plasma collection company, is the tenant.; Corporate guaranty provided.
    Request Owner's contact information
    1022 2Nd St Hickory, NC 28601
    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.
    1022 2Nd St
    Hickory, NC 28601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1022 2Nd St Hickory, NC 28601
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.