1381 Ctr St Hickory, NC 28601-2535

Property Details for 1381 Ctr St

Year built

2006

Lot size

0.09 lot acres

Property size

3,643 SF

Zone code

PD

Property type

Office Properties & Spaces

APN

3703-11-66-2366

APU

370311662366

Description

This exceptional Hickory, NC commercial property, located at 1381 N Center Street, presents a unique investment opportunity. The 0.09-acre corner lot features two interconnected buildings totaling significant square footage, ideally suited for continued operation as a restaurant and bar, or adaptable for other commercial uses. The property boasts over $300,000 in recent upgrades, including a comprehensive restaurant/bar fit-out and high-quality equipment. This includes an extra-large hood system, walk-in coolers, a fully functional draft beer system with integrated cooling, and a dedicated cocktail station. Four bathrooms, ample indoor seating, and an outdoor patio area are also included. The layout is thoughtfully designed, with approximately two-thirds of the space dedicated to food service (full or quick service), and the remaining area configured as a fully operational bar. A separate office area adds to the functionality. The property's current configuration allows for independent or combined operation of the restaurant and bar. Pro forma projections, based on a lease rate of $18-$22 per square foot, indicate a potential cap rate ranging from 6.3% to 7.7%. This prime location and substantial investment in improvements make this a compelling opportunity for savvy investors seeking strong returns. The property is priced at $1,000,000.