Lease to Own
Address
1434 E Main Street Albemarle, NC
Price
$ 1,400,000
Property Attributes
  • ID#3653176
  • TypeCommercial
  • CountySTANLY
  • CityAlbemarle
  • AreaStanly County
  • Zip28001
  • StyleCommercial
  • Price$ 1,400,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size2.3 Acres
Listing Provided Courtesy Of:
NorthGroup Real Estate, Inc.
Data Source:
Canopy MLS
Property Description

Smart investment: Class B- to C+ strip mall, 62,000 square feet, with 12 lane bowling alley, less than 2 miles from a brand new graduate level college campus (like, this week brandnew), within one mile of a brand new 88 unit multi-family build (like, not finished yet brand new), and the strip mall is on the "main street" of a downtown that is experiencing revitalization. The area has scored hundreds of jobs with manufacturers (not just start ups, but 100+ year old companies that pay 140% or more of current wages) and tens of millions of dollars of investment. The publically maintained street just got repaved. This is the time to strike. Pro forma: IRR 18% NPV $7,197,050.88 Caprate 6.5% NOI 124,000

Price History
9/17/2020 Listed $1,400,000

General Features

Accessibility 2 or More Access Exits, Entry Slope less than 1 foot, Exterior Curb Cuts, Hall Width 36 Inches or More, Handicap Parking, Mobility Friendly Flooring, No Interior Steps, Vehicle Transfer Area, Other
Car Hoasubjectto None
Construction Type Site Built
Cooling Other
Flooring Concrete, See Remarks
Heating Other
Possible Use Commercial, Industry, Multi-Family, Other
Property SubType Commercial
Property Type Commercial Sale
Restrictions N/A
Roof See Remarks
Secondary Sub-Type Business
Standard Status Active
Structure Type Retail Center
Terms Cash, Conventional, Ground Lease, Lease Purchase, Lease Purchase, Lease Option, OWC 1st, OWC 2nd, Other
Waterfront Features None
Zoning Description GHBD

Exterior Features

Foundation Details Basement, Basement Fully Finished, Basement Garage Door, Basement Inside Entrance, Basement Outside Entrance, Block, Slab, Slab
Lot Size Area 2.3
Number of Buildings 1
Other Parking Large Parking Lot
Road Frontage Type City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 28001

Price
AVG $380K
$1.4M
Visits
AVG 83
149
Year Built
AVG 1960
1960
Walkscore
AVG 47
54
Data Provided by Walkscore ® not using MLS data

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