Property profile

518 Fleming Dr Morganton, NC 28655

OFF-MARKET
Theaters & concert halls
Property ID
US53-1556287
7,780 SF 2.05 ac lot Built 1976
Entity Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Theaters & concert halls
Use group THEATER (MOVIE)
Year built 1976
Construction WOOD FRAME
Total area 7,780 SF
Lot 2.05 ac (89,298 SF)
Zoning code HIGH INTENSITY DIST
APN 32274
UPID US53-1556287

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
  • Car Rental Facility
  • Church
  • Church
  • Storage Facility

Location

518 Fleming Dr Morganton, NC 28655-3924
Morganton metro Census 21400 HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$425k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$480k

Owner & transaction history

since 2022
Last sale
$461,500
1 recorded transaction
2022
$461,500

Zoning & alternative use

HIGH INTENSITY DIST · Morganton, NC

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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