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    FOR LEASE
    Grocery and convenience stores

    2120 Morganton Blvd SW, Lenoir, NC 28645

    40,321 SF 6.41 ac lot Built 1999
    Entity Owned 10-yr Hold
    Property ID
    US53-1324596
    Property summary
    AI-generated overview

    This exceptional retail opportunity presents a fully vacant 9,425 square foot building situated on a substantial 6.39-acre lot in Lenoir, North Carolina. Located at 2120 Morganton Blvd SW, zip code 28645, this property offers significant potential for redevelopment or lease to multiple tenants. The single building, constructed in 1999, is classified as a neighborhood center and is currently entirely vacant, providing a blank canvas for a new business venture or expansion. The flexible space allows for various configurations, accommodating tenants ranging from 1,400 to 8,025 square feet. The expansive lot size provides ample parking and potential for future development or expansion. This property is ideally positioned within the Lenoir market, offering excellent visibility and accessibility. Its location provides convenient access to major roadways and a strong local customer base. The property's size and location make it an attractive investment for businesses seeking a prominent presence in a growing community. This is a rare opportunity to acquire a substantial retail property in a desirable location with significant upside potential. The property is ready for immediate occupancy.

    Property profile
    Verified
    Property type Grocery and convenience stores
    Use group GROCERY, SUPERMARKET
    Year built 1999
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 40,321 SF
    Lot 6.41 ac (279,220 SF)
    APN 06 97 1 1
    UPID US53-1324596
    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
    • Jackpot bin store Discount Store
    • Jasmine Restaurant
    • Dollar General Home Decor Store Department Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $6.24M
    Comparable Approach Comparable
    $4.66M
    Blend (final) Blend
    $5.45M
    Owner & transaction history
    Cranford Management LLC · 10 yrs held
    Cranford Management LLC
    since 2016
    3 recorded transactions
    2019
    2016
    $4.5M
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Apartment house (5+ units) $5.8M +106.0%
    Office building $4.2M +49.6%
    Commercial (general) $3.5M +24.5%
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    More about this property
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