Technical
Financial
Distress signals
Property profile

20239 Main St Cornelius, NC 28031

OFF-MARKET
Turn key restaurants
Property ID
US53-0066786
1,383 SF 0.35 ac lot Built 1906
Entity Owned 2-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 1,501 square foot freestanding retail/office space is ideally situated on North Main Street, at the gateway to Cornelius' vibrant downtown and the Cornelius Arts District. Currently a "vanilla box" condition, the property offers significant potential for customization and will be ready for occupancy in Summer 2024. Ample parking is conveniently located behind the building. The location provides unparalleled access to a thriving community, boasting close proximity to the newly constructed Cain Center for the Arts, a diverse selection of restaurants and retail establishments, the scenic greenway, and the Antiquity Town Center. Benefit from the synergy of nearby significant developments, including the Novel Davidson apartment complex, the expansive Mill's Market mixed-use project, the Caroline residential development, and the Greenway Gartens, which will soon include a new Olde Mecklenburg Brewery facility. This property presents a unique opportunity to establish a presence in a rapidly growing and highly desirable area of Cornelius, North Carolina, zip code 28031. The single-tenant occupancy ensures privacy and control, making it perfect for a variety of businesses. This is a rare opportunity to secure a prime location in a flourishing community.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1906
Total area 1,383 SF
Lot 0.35 ac (15,421 SF)
Zoning code NMX
APN 317706
UPID US53-0066786

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Electrical Service Construction Company

Location

20239 Main St Cornelius, NC 28031-6501
Cornelius metro Census 6408 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2024
Last sale
$700,000
7 recorded transactions
2024
$700,000
2022
$250,000
2012
$118,000
2005
$159,000
1996
$17,500
1989
$17,500
1969
Price N/A

Zoning & alternative use

NMX · Cornelius, NC
Zoning description

The Neighborhood Mixed Use (NMX) district is coded to provide a mix of commercial and residential activities at the function center of neighborhoods. Small-scale multi-family developments may be allowed subject to a cond…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 20239 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message