118 3Rd Ave Hickory, NC 28601
- Retail properties
- 4,436 SF
- 0.32 lot acres
Current Use by Public Records
- Birth-Empowered Virtual Childbirth Classes / Childbirth Class
- Golden Rule Music School / Music School
- LLB Photography LLC / Photography Studio
- Titans Consulting Tax and Accounting Services / Accounting Firm / Service Establishment
Property Details for 118 3Rd Ave
- Year built
- 1924
- Lot size
- 0.32 lot acres
- Property size
- 4,436 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional investment opportunity in downtown Hickory, NC presents a 4,436 square foot mixed-use building at 118 3rd Ave NW. Built in 1924, the property sits on a 0.32-acre lot and is zoned OI. Currently, the building boasts two recently renovated upstairs apartments and a leased commercial office space on the main floor, generating a monthly income of $5,025. The ground floor has been remodeled and is ready for lease, offering significant value-add potential to increase revenue beyond the projected $8,000 monthly income. An additional, unfinished fourth floor presents the possibility of converting into another apartment unit. Furthermore, an attached storage area with power could be easily transformed into a studio apartment. The property benefits from ample parking and a prime location within walking distance of Union Square in the heart of downtown Hickory. This property offers a unique blend of income-producing assets and significant upside potential for a savvy investor. The building's strong location and existing income stream make it an attractive investment opportunity in a thriving downtown area. This is a rare chance to acquire a well-positioned property with immediate cash flow and substantial room for growth.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Catawba
- State
- North Carolina
- Longitude
- -81.3394
- Latitude
- 35.7358
