1117-1127 2Nd St Hickory, NC 28601
- Commercial real estate
- 0.43 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1117-1127 2Nd St
- Year built
- 1955
- Lot size
- 0.43 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents three contiguous commercial buildings totaling over 8,750 square feet situated on a 0.43-acre lot in Hickory, NC's vibrant Viewmont area. The property boasts a high daily traffic count exceeding 26,000 vehicles. The buildings are currently generating income from multiple tenants with varying lease terms. 1117 and 1119 2nd St NE comprise approximately 4,500 square feet, featuring four bathrooms, a break room, conference rooms, and showroom space. This building has the potential for three separate rental units, with the front portion recently leased for a three-year term. 1125 2nd St NE offers 2,250 square feet of office, showroom, and workspace, currently leased with nearly three years remaining on the lease. Finally, 1127 2nd St NE is a 2,000-square-foot retail space with a lease term of nearly two years. The property includes a substantial parking area. Each building's front provides 11 parking spaces (distributed as 5, 3, and 3), while 1125 and 1127 each have an additional three spaces at the rear. A separate parcel (Parcel ID: 370311659487) adds 16 more parking spaces to the total. The current cap rate, with two vacant spaces, is 6%, projecting to a 10%+ cap rate at full occupancy. This presents a strong return on investment in a high-traffic location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Catawba
- State
- North Carolina
- Longitude
- -81.3353
- Latitude
- 35.7483
