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Intersection of NC 9 & 108 hwy 7,520 SF 100% Leased Retail Building Mill Spring, NC 28756 $2,250,000 ($299.20/SF)
INVESTMENT HIGHLIGHTS
- Corner location at signalized intersection with 3 road frontages
- Approved septic capacity for RV pads or tiny home expansion
- Direct access to Lake Lure, Tryon Equestrian Center, and I-26
- Fully leased commercial and residential units with upside potential
- Freestanding retail building with over $105K in equipment assets
- Unzoned and unrestricted land offering redevelopment flexibility
EXECUTIVE SUMMARY
Positioned at a high-traffic, signalized intersection in Mill Spring, North Carolina, this 5.33-acre investment property offers a rare combination of income stability and future development potential. The site features a seven-unit commercial strip center, a freestanding 1,800 SF corner building currently home to a coffee and ice cream shop, and two leased residential units. All spaces are fully occupied, with commercial leases currently below market rates, presenting upside for repositioning.
The property benefits from three road frontages—655 feet on SR 1368, 500 feet on Hwy 9, and 860 feet on Hwy 108—ensuring maximum visibility and accessibility. Located near Lake Lure, Lake Adger, Tryon Equestrian Center, and I-26, the site serves as a regional crossroads with direct access to Columbus, Rutherfordton, and Spartanburg, SC. The area’s demographic profile includes a median household income of $69.6K and a growing population, supporting long-term commercial viability.
Infrastructure includes city water, six septic systems, and additional approved septic capacity for RV pads or tiny homes. A newly installed 52 KW Generac generator adds operational resilience and income potential. The unzoned status and unrestricted land use allow for flexible redevelopment or expansion, making this an ideal acquisition for owner-users or investors seeking a foothold in Polk County’s limited commercial inventory.
The property benefits from three road frontages—655 feet on SR 1368, 500 feet on Hwy 9, and 860 feet on Hwy 108—ensuring maximum visibility and accessibility. Located near Lake Lure, Lake Adger, Tryon Equestrian Center, and I-26, the site serves as a regional crossroads with direct access to Columbus, Rutherfordton, and Spartanburg, SC. The area’s demographic profile includes a median household income of $69.6K and a growing population, supporting long-term commercial viability.
Infrastructure includes city water, six septic systems, and additional approved septic capacity for RV pads or tiny homes. A newly installed 52 KW Generac generator adds operational resilience and income potential. The unzoned status and unrestricted land use allow for flexible redevelopment or expansion, making this an ideal acquisition for owner-users or investors seeking a foothold in Polk County’s limited commercial inventory.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,520 SF
Building Class
B
Year Built
1987
Price
$2,250,000
Price Per SF
$299.20
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.03
Lot Size
5.33 AC
Opportunity Zone
Yes
Zoning
OPEN - open use
Parking
52 Spaces (6.91 Spaces per 1,000 SF Leased)
Frontage
583’ on North Carolina 9
PROPERTY TAXES
| Parcel Number | MS-71A-E05 | Improvements Assessment | $334,396 |
| Land Assessment | $500,000 | Total Assessment | $834,396 |
PROPERTY TAXES
Parcel Number
MS-71A-E05
Land Assessment
$500,000
Improvements Assessment
$334,396
Total Assessment
$834,396
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Intersection of NC 9 & 108 hwy
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