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2693 Memorial Hwy 5,359 SF Retail Building Lake Lure, NC 28746 $1,840,000 ($343.35/SF) 7.83% Cap Rate
INVESTMENT HIGHLIGHTS
- Gorgeous mountain and Lake Lure Views
- One of a kind location overlooking Lake Lure Beach across from the Historic Inn
- 4 parcels with 80 parking spots in the heart of Lake Lure
EXECUTIVE SUMMARY
Exceptional 2.15-acre property across from Lake Lure’s shimmering waters, offering four prime parcels with unparalleled mountain, 80 parking spots and lake views in a rare, high-demand location where commercial properties are scarce! Perfect for investment or development, this gem sits on Memorial Hwy (US 64/74A), steps from Lake Lure’s iconic beach. This 5359 sq ft. restaurant property (not included, separately owned) operates under a triple net lease, generating $144,000 in annual rent through May 1, 2030, with three 5-year extension options starting April 30, 2030. The tenant holds a first right of refusal. Possession delivered at closing, subject to the existing lease. Seize this unique opportunity to own a premier lakeside asset in Lake Lure’s coveted market!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$144,000
|
$26.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$144,000
|
$26.87
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $26.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $26.87 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,359 SF
Building Class
B
Year Built
2005
Price
$1,840,000
Price Per SF
$343.35
Cap Rate
7.83%
NOI
$144,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.07 AC
Zoning
Commercial, 2 parcels Res - The main parcel where the restaurant is located is Commercial while 2 of the parcels at the top of the property are zoned residential.
Parking
54 Spaces (10.08 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- La Strada
- Accommodation and Food Services
- -
- $26.70
- Triple Net
- Apr 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| La Strada | Accommodation and Food Services | - | $26.70 | Triple Net | Apr 2030 |
PROPERTY TAXES
| Parcel Number | 1636030 | Improvements Assessment | $322,500 (2025) |
| Land Assessment | $356,100 (2025) | Total Assessment | $678,600 (2025) |
PROPERTY TAXES
Parcel Number
1636030
Land Assessment
$356,100 (2025)
Improvements Assessment
$322,500 (2025)
Total Assessment
$678,600 (2025)
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2693 Memorial Hwy
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