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On & On Gift and Thrift 5256 US 74 E 2,715 SF Retail Building Sylva, NC 28779 $625,000 ($230.20/SF)

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INVESTMENT HIGHLIGHTS

  • We will be happy to work with and consider all offers from both real estate professionals, investors and owner occupants
  • IDEAL POTENTIAL USES: Service Station / C-Store; Dispensary; Motorcycle Shop; Any Destination Retail Use; Office; Construction Company
  • High Traffic Count
  • Recent Remodel; Two Individual Buildings Plus Two Additional Covered Areas; "D" Pillar Double Pylon Sign (color-remotely programmable); Two Pan Signs
  • Highest and Best Use would be either as a Service Station / C-Store, Dispensary or as a Motorcycle Shop
  • Three driveways - one on the highway and two on Norman Drive - readily accessible from either eastbound or westbound traffic

EXECUTIVE SUMMARY

2 separate buildings:
Building 1: 1,515 square feet, wood frame construction, built in 1980.
Building 2: 1,200 square feet, steel construction, built in 2010.
Total Heated/Cooled/Insulated area - 2,715 SF
Total Covered Area 3,771 SF (including buildings, canopy and gazebo)
Recent major remodel (2022); additional paving, paint, floor coverings, electrical upgrades, plumbing upgrades, lighting upgrades, both buildings heated, cooled and insulated; steel building has a single low dock / drive in door and a double low dock / drive in door, and both flex and warehouse spaces; 32' "D" pillar, double pylon sign with 7.5' X 4' programmable, (via internet/LTE), full color LED sign at the top and a 64 SF pan sign below (8' X 8'). 2.5' X 15' roof mounted pan sign on main building; 936 + SF lighted canopy. All interior and exterior lighting is new and is LED; pan signs are LED lit, large pan sign, canopy lights, and exterior perimeter LED security lights are all automatic, dusk to dawn. One handicapped accessible bathroom. Second bath was converted to a dressing room but can VERY EASILY be re-converted to a bathroom; wireless alarm systems for each building; private well; private septic system; municipal power; fiber optic internet
Building was originally a gas station/ c store. Fuel tanks have been removed and UST report available. We are reasonably certain that the property could be utilized as a C-store / gas station again.
Currently owner occupied.
Procurement fee negotiable.

FINANCIAL SUMMARY (PRO FORMA - 2025)

ANNUAL ANNUAL PER SF
Gross Rental Income $48,000 $17.68
Other Income - -
Vacancy Loss $2,400 $0.88
Effective Gross Income $45,600 $16.80
Taxes $650 $0.24
Operating Expenses $300 $0.11
Total Expenses $950 $0.35
Net Operating Income $44,650 $16.45

FINANCIAL SUMMARY (PRO FORMA - 2025)

Gross Rental Income
Annual $48,000
Annual Per SF $17.68
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $2,400
Annual Per SF $0.88
Effective Gross Income
Annual $45,600
Annual Per SF $16.80
Taxes
Annual $650
Annual Per SF $0.24
Operating Expenses
Annual $300
Annual Per SF $0.11
Total Expenses
Annual $950
Annual Per SF $0.35
Net Operating Income
Annual $44,650
Annual Per SF $16.45

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,715 SF
Building Class
C
Year Built/Renovated
1980/2022
Price
$625,000
Price Per SF
$230.20
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.18
Lot Size
0.34 AC
Zoning
Unzoned - Unzoned - Various Commercial
Parking
14 Spaces (5.16 Spaces per 1,000 SF Leased)
Frontage
253’ on US 74

AMENITIES

  • 24 Hour Access
  • Corner Lot
  • Freeway Visibility
  • Pylon Sign
  • Security System
  • Signage
  • Wheelchair Accessible
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7662-63-0696
Land Assessment
$94,660
Improvements Assessment
$191,977
Total Assessment
$286,637
Annual Taxes
$650 ($0.24/SF)
Tax Year
2025
  • Listing ID: 33828858

  • Date on Market: 11/11/2024

  • Last Updated:

  • Address: 5256 US 74 E, Sylva, NC 28779

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