Property profile & analytics
1381 Ctr St Hickory, NC 28601-2535
- Office properties & Spaces
- 3,643 SF
- 0.09 lot acres
OFF-MARKET
Last Sale
Jul 01, 2025
Jul 01, 2025
$790,000
Value Estimations
$690,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US53-1438181
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Frankies Pizza of Hickory / Restaurant
- the oak room / Bar & Pub
- Lazy Hogz / Restaurant
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.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $855,000
- 6.5%
- $790,000
- 7%
- $735,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $576,000
- AI Estimate
- $498,000
Market price range: $207k - $606kMarket price range: $115k - $581k -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $420,000 Current use
- MEDICAL BUILDING
- $690,000 Change: +64% Conversion: Easy
- AUTO REPAIR, GARAGE
- $435,000 Change: +3% Conversion: Difficult
- RETAIL STORES
- $430,000 Change: +2% Conversion: Moderate
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Catawba
- State
- North Carolina
- Longitude
- -81.3383
- Latitude
- 35.7508
- CBSA code
- 25860
- CBSA name
- HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,376
$58,600
$337,000
$395,600
-
$58,600
$337,000
$395,600
