1240 Nc 16 Hwy, Conover, NC 28613
This exceptional 2.38-acre commercial land parcel presents a prime investment opportunity in Conover, NC. Strategically located on a corner lot directly off Highway 16 and I-40 Exit 132, this highly visible property boasts over 460 feet of road frontage along Thornburg Drive NE, leading to I-40W, and an additional 150 feet of frontage along Highway 16. Its CC zoning is perfect for a variety of retail sales and service businesses. The property benefits from its proximity to a Walmart shopping center and enjoys significant traffic volume, with an average annual daily traffic (AADT) of 15,500 vehicles on Thornburg Drive NE (RPR 2021) and 9,200 vehicles on Highway 16 (RPR 2023). Municipal water is available at the street, and sewer access is located at the rear of the property. This location offers easy access to major transportation arteries, including I-40, US Route 70, US Route 321, and NC Highway 16. The property is also conveniently situated near numerous dining, retail, hotel, and office options within a one-mile radius. Recreational amenities such as Rock Barn Country Club and Spa (5 miles), Lake Hickory (10 miles), and Lake Norman (25 miles) are also within easy reach. Charlotte Douglas International Airport is approximately 45 miles away. The asking price is $324,900. Note that two adjacent parcels, totaling 14.07 acres, are available for purchase separately, presenting the possibility of acquiring a significantly larger development site.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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