Technical
Financial
Distress signals
Property profile

402 Patton Ave Monroe, NC 28110

FOR LEASE
Strip malls
Property ID
US53-0969419
10,350 SF 0.98 ac lot Built 1986
Entity Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, located at 402 Patton Avenue, offers versatile office space in a high-traffic area of Monroe. Situated within a bustling strip center at a major intersection, this property boasts excellent visibility and accessibility. The space currently totals 1,335 to 2,670 square feet, offering significant flexibility for businesses of varying sizes. The landlord is open to dividing the space to accommodate specific tenant needs, resulting in a potentially higher price per square foot for smaller units. The interior is an open layout, providing ample opportunity for customized design and efficient workflow. A key feature is the inclusion of four bathrooms conveniently located at the rear of the property. This property is ideal for businesses seeking a prominent location with high foot traffic and the potential for customized space configurations. The property type is classified as Retail, Office, and Restaurant, making it suitable for a variety of commercial uses. The tenancy is single, offering exclusive use of the space. This presents a unique opportunity for a business to establish a strong presence in a thriving commercial area. The property's location at one of Monroe's busiest intersections ensures maximum exposure and accessibility for clients and employees.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1986
Total area 10,350 SF
Lot 0.98 ac (42,689 SF)
Zoning code GB MONROE
APN 09-226-198
UPID US53-0969419

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
  • Restaurant
  • Bank Credit Union
  • Telecommunications Service Data Center
  • Car Rental Facility
  • Restaurant

Location

402 Patton Ave Monroe, NC 28110
Monroe metro Census 20406 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$360k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$360k

Owner & transaction history

since 2018
1 recorded transaction
2018
Price N/A

Zoning & alternative use

GB MONROE · Monroe, NC

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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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