Property profile

429 Main St Spindale, NC 28160

OFF-MARKET
Auto shops
Property ID
US53-2674091
3,600 SF 0.28 ac lot Built 1940
Individually Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 0.69-acre commercial property at 429 E Main Street, Spindale, NC, presents a unique investment opportunity priced at $260,000. Currently operating as an auto repair shop, the property's versatility allows for a multitude of uses. Imagine a thriving multi-business complex or a complete redevelopment project tailored to Spindale's growing community. The existing structure features three workshop bays, perfect for mechanics or similar trades, complemented by two separate offices, two restrooms, and several storage rooms. A secure, fenced perimeter with a gated entrance and a separate building entrance enhances both security and functionality. Its prime location on Hwy 74 Bus and the intersection of Oakland Rd ensures high visibility and easy access. The property's proximity to the Thermal Belt Rail Trail adds to its appeal, offering potential for synergy with recreational activities. This strategic location makes it an ideal site for a strip mall or other commercial development catering to the local community's needs. The high visibility and strategic location make this a rare opportunity for entrepreneurs and developers seeking a prominent presence in Spindale. Don't miss this chance to acquire a valuable commercial asset in a thriving area.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1940
Total area 3,600 SF
Lot 0.28 ac (12,197 SF)
Zoning code GC
APN 1204051
UPID US53-2674091

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
  • Car Dealership
  • Car Dealership

Location

429 Main St Spindale, NC 28160-1925
Spindale metro Census 960600 FOREST CITY, NC MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$205k

Owner & transaction history

Zoning & alternative use

GC · Spindale, NC
Zoning description

e Districts 155.040 Generally 155.041 R-20 Residential District 155.042 R-10 Residential District 155.043 R-6 Residential District 155.044 NB Neighborhood Business District 155.045 CC Central Commercial District 155.046…

General category COMMERCIAL

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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