Property profile

507 Lafayette St Shelby, NC 28150

OFF-MARKET
Auto shops
Property ID
US53-2823297
3,306 SF 0.17 ac lot Built 1968
Individually Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional turnkey restaurant opportunity is situated in the heart of vibrant downtown Shelby, North Carolina. The property boasts a 0.2-acre lot at 507 S Lafayette Street and is ideally positioned for high visibility and foot traffic, benefiting from its proximity to shops, entertainment, and local attractions. The interior offers a fully equipped commercial kitchen ready for immediate operation, eliminating the need for extensive upfront investment. A well-appointed bar area complements the spacious dining room, currently configured to comfortably seat up to 50 patrons. The establishment maintains an impressive 97.5 sanitation score, demonstrating a commitment to hygiene and operational excellence. The open floor plan provides flexibility for diverse business concepts, from upscale dining to casual eateries or even a unique retail venture. Handicap accessibility is a key feature, ensuring inclusivity for all patrons. The potential for outdoor seating further enhances the property's appeal. This is a rare chance to acquire a thriving business location with minimal setup time, allowing immediate focus on operations and growth. The asking price is $695,000.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1968
Total area 3,306 SF
Lot 0.17 ac (7,598 SF)
Zoning code GB
APN 72353
UPID US53-2823297

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
  • Grocery & Convenience Store Food Market

Location

507 Lafayette St Shelby, NC 28150-5838
Shelby metro Census 951000 SHELBY, NC MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$255k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k

Owner & transaction history

since 2023
Last sale
$295,000
7 recorded transactions
2023
Price N/A
2023
$295,000
2020
$126,000
2017
Price N/A
2014
Price N/A
2010
Price N/A
2010
Price N/A

Zoning & alternative use

GB · Shelby, NC
Zoning description

The GB business district is established as a district in which to accommodate a wide range of retail business, professional and personal services office and limited wholesale and warehousing uses, areas zoned as GB are g…

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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