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    FOR SALE
    Auto shops

    1501 Dr Martin Luther King Jr Blvd, Kinston, NC 28501

    1,500 SF 2.96 ac lot Built 1999
    Entity Owned 17-yr Hold Free & Clear
    Property ID
    US53-3603133
    Property summary
    AI-generated overview

    This 2,200 square foot commercial building, located at 1501 Dr Martin Luther King Jr Blvd in Kinston, North Carolina (zip code 28501), is offered at $495,000 ($225 per square foot). Previously used as an auto repair shop and car wash, this property presents a versatile investment opportunity. Its zoning classification, Industrial-Business, allows for a wide range of potential uses, making it attractive to various businesses. The building enjoys a highly visible location directly on Highway 11, ensuring excellent exposure and accessibility for customers. The property's convenient location in Kinston, Lenoir County, North Carolina, offers easy access to local amenities and a strong regional market. This is a rare chance to acquire a well-situated commercial property with significant potential for growth and return on investment. The building's existing infrastructure, while previously used for automotive services, provides a solid foundation for future development and adaptation to new business ventures. Serious inquiries are encouraged to explore the possibilities this property offers.

    Property profile
    Verified
    Property type Auto shops
    Use group AUTO REPAIR, GARAGE
    Year built 1999
    Total area 1,500 SF
    Lot 2.96 ac (128,938 SF)
    Zoning code I-B
    APN 452508889698
    UPID US53-3603133
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Tripp's Tire & Muffler Auto Repair Shop Insurance Agency
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Carolina Equipment Company Of Kinst · 17 yrs held
    Carolina Equipment Company Of Kinst
    since 2008
    1 recorded transaction
    2008
    $450,000
    Zoning & alternative use
    I-B · Kinston, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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