565 George Wilson Rd Boone, NC 28607
- Day care centers
- 1,350 SF
- 1.90 lot acres
Current Use by Public Records
- Lynhill Day Care & Development Center / Day Care Center
Property Details for 565 George Wilson Rd
- Year built
- 1985
- Lot size
- 1.90 lot acres
- Property size
- 1,350 SF
- Zone code
- BOB3
- Property type
- Day care centers
- APN
- 1991-90-6168-000
- APU
- 1991906168000
Description
This exceptional commercial property at 565 George Wilson Road, Boone, NC, presents a lucrative investment opportunity. The 6,550 square foot building sits on a 1.9-acre lot, boasting approximately 170 feet of frontage on a state-maintained paved road, providing easy access to Highways 421 and 105. Currently operating as a successful daycare/pre-school under lease until 2029, this property is ideal for passive investors seeking high returns. The existing lease offers an estimated cap rate of around 8%. The main level comprises eight classrooms, a full kitchen, office space, bathroom, storage, and a utility room. Many classrooms include integrated sinks and/or toilets. The upper level, offering over 1,900 square feet, is currently divided into two suites. Suite 1 is configured as a two-bedroom, one-bathroom unit with a full kitchen and living area. Suite 2 is used for storage but has the potential to be converted into a similar two-bedroom, one-bathroom unit. Ample paved parking is available on-site. The property's proximity to Appalachian State University and downtown Boone (less than 3 miles) adds to its desirability and potential for future growth. This is a rare chance to acquire a well-established, income-generating property in a thriving location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $580,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $620,000
- 6.5%
- $600,000
- 7%
- $565,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $595,000
- Geo Method
- $665,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $705,000
- Retail
- $740,000
- Mixed-Use
- $770,000
- Hospitality
- $615,000
- Educational
- $670,000
- Residential Income
- $710,000
- Energy
- $655,000
- Income-Based Land
- $765,000
- Food Service
- $705,000
Location Insight
- Map
- Local Demand
- City
- Boone
- County
- Watauga
- State
- North Carolina
- Longitude
- -81.7131
- Latitude
- 36.221
- CBSA code
- 14380
- CBSA name
- BOONE, NC MICROPOLITAN STATISTICAL AREA
