Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    318 Bouchelle St Morganton, NC 28655-3304
    Back to Search
    Property profile & analytics

    318 Bouchelle St Morganton, NC 28655-3304

    View on Map
    • Turn key restaurants
    • 1,902 SF
    • 1.10 lot acres
    Off-Market
    Last Sale Feb 3, 2021
    Property ID
    US53-1540599
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hot Shots Espresso Morganton / Cafe & Coffee Shop

    Property Details for 318 Bouchelle St

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    1.10 lot acres
    Property size
    1,902 SF
    Zone code
    MEDIUM INTENSITY DIST
    Property type
    Turn key restaurants
    APN
    37931
    APU
    37931

    Description

    This exceptional commercial property, located at 318 Bouchelle Street in Morganton, NC, presents a unique investment opportunity. Originally St. Stephens Episcopal Church, this charming building underwent a thoughtful renovation in 2021, seamlessly blending its historical character with modern amenities. The 1.1-acre lot offers ample space, and the interior was redesigned for a doughnut shop, but is readily adaptable to various commercial uses. Key improvements completed in 2021 include a new roof and HVAC system. The kitchen is conveniently located downstairs, with provisions made for a future dumbwaiter installation. For food service businesses, the property boasts tankless water heaters, a vented hood, and a grease trap, all installed in 2021, ensuring immediate operational readiness. The spacious main dining area comfortably accommodates numerous patrons, complemented by additional outdoor patio seating. Its prime location behind the Fairfield Inn & Suites and directly across from Morganton's bustling central business district provides exceptional visibility and accessibility. Morganton's vibrant downtown area is known for its thriving blend of historical charm and modern growth, offering a diverse range of shopping, dining, and arts-focused establishments. This property represents a rare chance to own a piece of Morganton's history while capitalizing on the city's continued economic expansion. The asking price is $499,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.6917
    Latitude
    35.7498
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $1,572
    $27,500
    $253,198
    $280,698
    -
    $27,500
    $253,198
    $280,698

    Comparable in this City

    • Value Estimation
      $540,000
      8,512 SF

      135 Bush Dr

      RESTAURANT • 8,512 SF
      135 Bush Dr, Morganton, NC 28655-4668
      View Details
    • Value Estimation by Request
      7,710 SF

      101 Bost Rd

      RESTAURANT • 7,710 SF
      101 Bost Rd, Morganton, NC 28655-5620
      View Details
    • Value Estimation by Request
      2,275 SF

      520 Fleming Dr

      RESTAURANT • 2,275 SF
      520 Fleming Dr, Morganton, NC 28655-3924
      View Details
    • Value Estimation by Request
      4,008 SF

      3221 Nc 126

      RESTAURANT • 4,008 SF
      3221 Nc 126, Morganton, NC 28655-6016
      View Details
    • Value Estimation
      $2,790,000
      5,591 SF

      2156 Sterling St

      RESTAURANT • 5,591 SF
      2156 Sterling St, Morganton, NC 28655-4049
      View Details
    • Value Estimation by Request
      4,828 SF

      139 Un St

      RESTAURANT • 4,828 SF
      139 Un St, Morganton, NC 28655-3459
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,640 SF

      Turnkey Restaurant in Historic Building

      Fully equipped restaurant in Glen Alpine's historic 1902 building.
      102 Linville St, Morganton, NC 28655
      View Details
    • $710,000
      5,460 SF

      Historic Commercial Building in Morganton

      Prime commercial property in Morganton's vibrant Downtown Historic District.
      117 W Union St, Morganton, NC 28655
      View Details
    • $209,900
      1.44 Acres

      Highway Frontage Commercial Land Opportunity

      Versatile commercial land with office building and high traffic.
      5161 Nc Hwy 18 S, Morganton, NC 28655
      View Details
    • $1,799,900
      2.75 Acres

      Restaurant Site on 2.75 Acres

      2.75-acre restaurant site near I-40, ready for business.
      309 Enola Rd, Morganton, NC 28655
      View Details
    • $229,900
      350 SF

      Roadside Business Opportunity on NC-18

      RMU-zoned lot with office, high traffic, and utilities.
      5161 Nc Hwy 18 S, Morganton, NC 28655
      View Details
    • $210,000
      864 SF

      Turnkey Bar Opportunity in Morganton

      Established bar business, building, and land for sale.
      2617 Us 64 Hwy, Morganton, NC 28655
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      202,980 SF

      Fiddler's Run Retail Spaces

      Morganton, NC: Prime Retail Opportunity
      104 Fiddlers Run Blvd, Morganton, NC 28655
      View Details
    • $21 SF/Yr
      5,600 SF

      Restaurant/Retail Space Available For Rent

      5,600 SF restaurant/retail space with tenant improvement allowance.
      115 E Union St, Morganton, NC 28655
      View Details
    • $22 SF/Yr

      Downtown Morganton Restaurant Space Available

      Restaurant space in high-traffic downtown area near brewery and hotel.
      309 N Green St, Morganton, NC 28655
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Prime Location

      Move-in ready retail spaces on main retail corridor.
      406-420 W Fleming Dr, Morganton, NC 28655
      View Details
    • Contact for pricing
      3,500 SF

      Retail/Office Space in Morganton Station

      Versatile space in a vibrant mixed-use complex with high visibility.
      605 S Green St, Morganton, NC 28655
      View Details
    • Contact for pricing

      Versatile Retail or Office Space

      2,829 SF space in Morganton Station mixed-use complex.
      605 S Green St, Morganton, NC 28655
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    318 Bouchelle St
    Morganton, NC 28655-3304
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    318 Bouchelle St, Morganton, NC, 28655
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!