Property summary
This exceptional 9,507 square foot retail property, located at 510 Morgan Mill Road in Monroe, North Carolina, presents a lucrative investment opportunity. The property, built in 1980 and extensively renovated in 2022, boasts a single-story building situated on a 2.24-acre lot, completely fenced for enhanced security and ample storage. Currently operating as a thriving, owner-occupied auto sales and auto body shop, the property features two units: a 1,972.2 square foot office building with a breakroom, and a 7,590 square foot climate-controlled warehouse/shop space equipped with two drive-in bay doors. The property benefits from high visibility and convenient access to US Highway 74 and downtown Monroe, surrounded by numerous amenities including restaurants, hotels, and gas stations. Zoned GB (General Business), this versatile property is ideal for a variety of uses, including retail, auto repair, auto sales, or commercial vehicle parking. The property is 100% occupied and offers significant potential for future growth. The asking price is $1,499,000. Parcel ID: 09189014A.
Property profile
VerifiedCap rate & NOI
Current use
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Car Dealership
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
GB MONROE · Monroe, NCZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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The district profile from the municipal source: what is on file for GB MONROE in Monroe, NC.
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