5 Lafayette St Shelby, NC 28150-5686

Property Details for 5 Lafayette St

Year built

1925

Lot size

0.09 lot acres

Property size

8,200 SF

Zone code

CB

Property type

Retail space

APN

17087

APU

17087

Description

This exceptional investment opportunity presents a portfolio of three income-producing office buildings strategically located in uptown Shelby, North Carolina. All three properties are situated within two blocks of each other, offering convenient management and potential for synergistic operations. The portfolio comprises a total of 15 rental units spread across three addresses: 5 North Lafayette Street (13 units), 200 West Marion Street (2 units), and 131 West Marion Street (2 units). The main building at 5 North Lafayette Street boasts a substantial 13,082 square feet of leasable space. The entire portfolio sits on a combined 0.46-acre lot. Currently generating a robust annual rental income of $137,040, the portfolio demonstrates a strong net operating income (NOI) of $96,768, resulting in an attractive cap rate of 8.8%. This presents a compelling investment opportunity for those seeking a stable, high-yield return in a desirable uptown Shelby location. The proximity of the buildings allows for efficient management and potential for future expansion or consolidation. The current tenant base provides a consistent income stream, making this a low-risk, high-reward investment prospect. Detailed financial statements and property information are available upon request. This portfolio offers a rare chance to acquire a well-established, income-generating asset in a thriving urban core.