This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

164 E Main St

8,850 SF 100% Leased Retail Building Forest City, NC 28043 $1,695,000 ($192/SF) 5.86% Cap Rate

Investment Highlights

  • Located in a high traffic area in the middle of downtown area
  • Access to Public transportation

Executive Summary

Prime investment opportunity. Fully leased property with an annual income of $99,333. First floor is a restaurant that offers both indoor and outdoor seating, leased by, "The Hoot Nannie" who are currently on a five year lease with two five year options. Second floor consists of three 2 bedroom 1.5 bath apartments which are leased on annual basis.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,850 SF
Building Class
C
Year Built/Renovated
1938/2021
Price
$1,695,000
Price Per SF
$192
Cap Rate
5.86%
NOI
$99,327
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.90
Lot Size
0.07 AC
Zoning
C1 - a neighborhood commercial district that allows low-intensity commercial uses to serve nearby residential areas
Parking
8 Spaces (0.9 Spaces per 1,000 SF Leased)
Frontage
32 FT on Main St

Nearby Major Retailers

Truist
United Bank
Fifth Third Bank
Cook Out
First Citizens Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
427420
Land Assessment
$35,600
Improvements Assessment
$509,400
Total Assessment
$545,000
  • Listing ID: 33112233

  • Date on Market: 9/9/2024

  • Last Updated:

  • Address: 164 E Main St, Forest City, NC 28043

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}