518 Fleming Dr Morganton, NC 28655-3924
- Theaters & concert halls
- 7,780 SF
- 2.05 lot acres
Current Use by Public Records
- U-Haul Neighborhood Dealer / Van Rental Agency / Trailer Rental Service
- Thrive Church / Church
- Iglesia Pentecosta Unida Hispana, Morganton / Church
- SUM Storage / Self-Storage Facility
Property Details for 518 Fleming Dr
- Year built
- 1976
- Construction
- WOOD FRAME
- Lot size
- 2.05 lot acres
- Property size
- 7,780 SF
- Zone code
- HIGH INTENSITY DIST
- Property type
- Theaters & concert halls
- APN
- 32274
- APU
- 32274
Description
This exceptional retail property, located at 518-520 W. Fleming Dr in Morganton, NC, offers 25,200 square feet of new construction space. The property features a mix of unit sizes, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 25,200 square feet, allowing for flexibility in tenant needs. Currently, 37,800 square feet is available for lease. This development is situated on a main retail corridor, boasting excellent visibility and accessibility, enhanced by its own signalized intersection. The strategic location provides close proximity to numerous national retailers, capitalizing on existing commercial activity. The property's adjacency to the new North Carolina School of Science and Math, sharing a designated traffic light, ensures high traffic volume and exposure to a significant population. This development is part of a growing area experiencing substantial residential and commercial growth, making it an ideal location for businesses seeking to establish or expand their presence in a thriving market. The property is located in Burke County, NC, zip code 28655. This is a rare opportunity to secure space in a brand-new, high-traffic retail center in a rapidly developing area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $480,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $555,000
- 6.5%
- $520,000
- 7%
- $525,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $545,000
- Geo Method
- $560,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $465,000
- Retail
- $575,000
- Mixed-Use
- $525,000
- Hospitality
- $475,000
- Educational
- $460,000
- Residential Income
- $565,000
- Energy
- $460,000
- Income-Based Land
- $605,000
- Food Service
- $590,000
Location Insight
- Map
- Local Demand
- City
- Morganton
- County
- Burke
- State
- North Carolina
- Longitude
- -81.6878
- Latitude
- 35.7342
- CBSA code
- 25860
- CBSA name
- HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA