954 Blowing Rock Blvd Lenoir, NC 28645
- Turn key restaurants
- 7,286 SF
- 2.32 lot acres
Current Use by Public Records
- Dodge City Steakhouse Lenoir / Steak House / Caterer
- Dodge City Steakhouse Lenior / Caterer / Takeout Restaurant
Property Details for 954 Blowing Rock Blvd
- Year built
- 1997
- Construction
- WOOD
- Lot size
- 2.32 lot acres
- Property size
- 7,286 SF
- Property type
- Turn key restaurants
- APN
- 09116 1 4
- APU
- 911614
Description
Exceptional investment opportunity: acquire the established Dodge City Steak House in Lenoir, North Carolina. This thriving restaurant, located on US Highway 321, benefits from a prime location surrounded by successful businesses, ensuring consistent customer traffic. The 6,598 square foot building features a well-appointed dining area, a fully equipped kitchen designed for efficiency, a welcoming bar, and ample parking. The current lease is a Net Lease (NNN) with a remaining term of approximately 1.6 years, followed by two five-year options. The lease commenced July 1, 2021, and expires June 30, 2026. Annual rent bumps are set at 3%. The property sits on 1.22 acres of land. The asking price is $1,571,703, representing a 6.75% cap rate with a current Net Operating Income (NOI) of $106,089. This is a single-tenant property with no credit rating available for the tenant. This presents a rare chance to own a cornerstone of culinary excellence in a vibrant community. The restaurant's strong reputation and loyal customer base make this a compelling investment prospect with significant potential for future growth. The property is situated in Caldwell County, North Carolina, with the address being 954 Blowing Rock Blvd, Lenoir, NC 28645.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,045,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $880,000
- 6.5%
- $885,000
- 7%
- $980,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,025,000
- Geo Method
- $935,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,010,000
- Retail
- $1,175,000
- Mixed-Use
- $900,000
- Hospitality
- $1,010,000
- Educational
- $920,000
- Residential Income
- $865,000
- Energy
- $1,135,000
- Income-Based Land
- $1,095,000
- Food Service
- $1,030,000
Location Insight
- Map
- Local Demand
- City
- Lenoir
- County
- Caldwell
- State
- North Carolina
- Longitude
- -81.5262
- Latitude
- 35.9282
- CBSA code
- 25860
- CBSA name
- HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA
