2929 Hedrick Ml Rd, Lexington, NC 27292-7188
This exceptional turnkey wedding venue in Lexington, NC, presents a rare opportunity for immediate income and growth. Spanning 10,048 square feet on a 5.1-acre lot (including a 1.9-acre parcel across the street for additional parking), this single-story, 2004-built property boasts impressive features. The venue comfortably accommodates over 10,000 square feet of event space, allowing for two simultaneous events. Recent upgrades exceeding $275,000 include a new covered outdoor area with a mobile bar, perfect for ceremonies or receptions. A luxurious bridal suite with hair and makeup facilities and a groom's suite with a pool table enhance the guest experience. A fully equipped commercial kitchen, currently leased with annual rent increases, is included, along with all equipment. Significant infrastructure improvements have been made, including a $21,000 septic upgrade in 2023 and over $50,000 in electrical upgrades. Enhanced privacy is ensured with newly added landscaping. The business has enjoyed 20 years of operation, with the past two years showing record-breaking profits. Financials are available upon request. Existing bookings extend into 2025, providing immediate income potential. This is a truly remarkable opportunity to acquire a thriving, established business with significant upside. The asking price is $2,750,000.
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Morrison Grove Wedding Service
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CUHC · Lexington, NCLexington. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.