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500 W Main St

7,816 SF Speciality Building Offered at £554,455 at a 6.20% Net Initial Yield in Morganton, NC 28655

Investment Highlights

  • Strong Average Household Income of $77,292 Within Five Miles of the Property
  • The Hickory-Lenoir-Morganton MSA is the 9th Largest in the State of North Carolina and is Home to 370,030 Residents
  • Morganton is Located ~55 Miles Northwest of Charlotte and is the County Seat of Burke County, Which is Home to 88,704 Residents

Executive Summary

Cash Flowing Self Storage Facility Comprised of 500 NRSF of Climate-Control Units, 5,800 NRSF of Non-Climate Units, and 1,516 NRSF of Commercial Space.

Attachments

Glen Alpine Storage OM - Morganton, NC - FS - compressed

Property Facts Under Contract

Price £554,455 Building Class C
Price Per SF £71 Lot Size 1.10 AC
Sale Type Investment Building Size 7,816 SF
Net Initial Yield 6.20% Number of Floors 1
Property Type Speciality Year Built 1992
Property Subtype Self-Storage Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price £554,455
Price Per SF £71
Sale Type Investment
Net Initial Yield 6.20%
Property Type Speciality
Property Subtype Self-Storage
Building Class C
Lot Size 1.10 AC
Building Size 7,816 SF
Number of Floors 1
Year Built 1992
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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PROPERTY TAXES

Parcel Number 23948 Improvements Assessment £276,354
Land Assessment £58,832 Total Assessment £335,187

PROPERTY TAXES

Parcel Number
23948
Land Assessment
£58,832
Improvements Assessment
£276,354
Total Assessment
£335,187

zoning

Zoning Code G-B (General BU)
G-B (General BU)
(239) 293-3844

Contacts

  • Listing ID: 33362174

  • Date on Market: 01/10/2024

  • Last Updated:

  • Address: 500 W Main St, Morganton, NC 28655

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© 2024 CoStar Group

500 W Main St
(239) 293-3844 x

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Frank DeSalvo

(239) 293-3844

(239) 293-3844

Joseph Lombardo

(585) 781-4195

(585) 781-4195

David Perlleshi

(914) 365-0752

(914) 365-0752

Darron Kattan

(813) 345-5887

(813) 345-5887

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