1003 York RdKings Mountain, NC 28086

Property Details for 1003 York Rd

Year built

1959

Lot size

0.90 AC

Property size (Sq ft)

2,220 SF

Zone code

NB

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

12749

APU

12749

Description

This exceptional commercial property, located at 1003 York Rd, Kings Mountain, NC 28086, presents a lucrative investment opportunity. Situated on a 0.86-acre lot at the corner of York Rd and Lake Montonia Rd, this multi-tenant retail property boasts 2,220 to 3,358 square feet of space and is currently 100% occupied. The property includes two parcels, one housing a two-bedroom, one-bathroom residence currently rented month-to-month for $1000, and a vacant parcel (Parcel ID 12479). The building features multiple entrances, allowing for potential expansion or division into two units. This high-traffic location benefits from proximity to I-85 (exit 8), the Two Kings Casino, and the Kings Mountain National Military Park. A new, approximately 10,000 square foot restaurant/distillery is expected to open nearby in summer 2024, further enhancing the area's appeal and foot traffic. The property is zoned COMM-NB and is ideally suited for food service, gas station/convenience store, or other retail uses. The asking price is $699,000. An adjacent 2.33-acre parcel is also available for purchase separately. Combining both properties creates a substantial 3.19-acre corner lot with extensive road frontage.

• CAP approach

  CAP return

  Valuation

  6%

  $762,515

  6.5%

  $703,860

  7%

  $653,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $947,356

  Geo Method

  $947,356

• Alternative Use

  Use

  Valuation

  Residential

  $593,732

  Hospitality

  $543,855

  Educational

  $452,481

  Medical

  $468,043

  Retail

  $703,860

Location Insight

City

Kings Mountain

County

Cleveland

State

North Carolina

Latitude

35.2183

Longitude

-81.3343

CBSA code

43140

CBSA name

SHELBY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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