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Property profile & analytics
FOR LEASE
Drive through restaurants
2511 N Center St, Hickory, NC 28601
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1505737
For Lease
1 / 3
$830,000
2511 N Center St, Hickory, NC 28601
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Property summary
AI-generated overview
Northgate Plaza, a 28,000 square foot retail strip center located at 2511 N Center St in Hickory, NC (28601), offers exceptional leasing opportunities. Built in 1980, this property sits on 0.63 to 0.9 acres of land in Catawba County and presents multiple spaces for lease. Currently, 11,225 square feet are vacant, providing flexibility for various business needs. The minimum leasable space is 1,955 square feet, while the maximum contiguous space available is 7,220 square feet. This allows for businesses of different sizes to find a suitable location within this established center. The property's prime location in Hickory offers excellent visibility and accessibility, making it an ideal choice for retailers seeking a strong presence in a thriving community. The multiple tenancy structure provides a diverse and vibrant atmosphere, attracting a wide range of customers. Interested parties are encouraged to inquire about available spaces and lease terms. This is a fantastic opportunity to establish or expand your business in a well-situated retail center.
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1980
Construction
WOOD
Total area
5,431 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CC-2
APN
3704-20-71-8692
UPID
US53-1505737
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
-
McDonald's Restaurant Take-out & Catering
-
NORTHGATE PLAZA Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$830k
Owner & transaction history
MCDONALDS REAL EST COMPANY
MCDONALDS REAL EST COMPANY
Zoning & alternative use
CC-2 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,245,000
Current use
MEDICAL BUILDING
$1,030,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$830k
Range $747k – $913k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$153 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,896
Tax year 2023
Assessed value
$1,510,900
Assessed 2023
Previous assessed
$1,510,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$344,300
Assessed improvement
$1,166,600
Land market value
$344,300
Improvement market value
$1,166,600
Total market value
$1,510,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
1980
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
5,431 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CC-2
APN
3704-20-71-8692
UPID
US53-1505737
Jurisdiction
CATAWBA
Zoning & alternative use
CC-2 · Hickory, NC
Zoning CC-2 · permitted uses
CC-2 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
RESTAURANT Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
MCDONALDS REAL EST COMPANY
Entity
Free & Clear · 0 yrs held
Mailing address
1333 2ND ST NE STE #300, HICKORY, NC 28601-2594
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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