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    OFF-MARKET
    Auto shops

    507 Lafayette St, Shelby, NC 28150-5838

    3,306 SF 0.17 ac lot Built 1968
    Individually Owned 3-yr Hold ~ Est. High Equity
    Property ID
    US53-2823297
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • San Miguel Mexican Store & Restaurant Grocery & Convenience Store Food Market
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    San Miguel Mexican Store & Restaura · 3 yrs held
    San Miguel Mexican Store & Restaura
    since 2023
    Last sale
    $295,000
    7 recorded transactions
    2023
    2023
    $295,000
    2020
    $126,000
    2017
    2014
    2010
    2010
    Zoning & alternative use
    GB · Shelby, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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