Property profile

2120 Morganton Blvd SW Lenoir, NC 28645

FOR LEASE
Grocery and convenience stores
Property ID
US53-1324596
40,321 SF 6.41 ac lot Built 1999
Entity Owned 10-yr Hold
Saved · see the list in your Dashboard

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

Current use

Occupant on record · Public records
  • Discount Store
  • Restaurant
  • Home Decor Store Department Store

Location

2120 Morganton Blvd SW Lenoir, NC 28645
Lenoir metro Census 30200 HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA
Google Maps

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

since 2016
3 recorded transactions
2019
Price N/A
2016
$4.5M
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Apartment house (5+ units) $5.8M +106.0%
Office building $4.2M +49.6%
Commercial (general) $3.5M +24.5%

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?”
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