938 Grove St - Fast Food FOR SALE


Shelby, NC 28152
$1,250,000 USD
315-415-0295
938 Grove St, Shelby, NC for Sale
$1,250,000 USD
Fast Food - FOR SALE
1/8
null | Request Cap Rate

938 Grove St
Shelby, NC 28152


HIGHLIGHTS

  • Irreplaceable location with frontage along the City of Shelby’s principal commercial corridor
  • Annual Average Daily Traffic Count of 40,000 vehicles per day
  • Retail rent growth is forecasted at an upward trend due to low inventory, depleted pipeline for newly constructed retail
  • Active consumer market with immediate demand for competitive products. Average household Food & Alcohol spending of over $6,338 within a 3-mile radius
  • Located in Shelby’s central retail corridor near major anchors
  • Projected household growth of 11,000+ by 2028 in 3-mile radius

OVERVIEW

Positioned along Shelby’s most prominent commercial corridor, this freestanding QSR facility at 938 Grove Street offers an irreplaceable location with direct frontage on East Dixon Boulevard (U.S. 74), which sees an impressive 40,000 vehicles per day. The 0.4-acre site includes a 1,170 SF building constructed in 2003, previously occupied by a Checkers franchise, and is now delivered vacant—ready for a new owner to capitalize on the high-traffic visibility and drive-thru infrastructure. Shelby’s retail market is experiencing strong momentum, with a vacancy rate of just 2.9% and no new retail construction underway. Rent growth has outpaced national averages, rising 15.1% over the past three years. The surrounding area supports robust consumer demand, with over $6,338 in average household food and alcohol spending within a 3-mile radius and a population exceeding 25,000. The property is surrounded by major retailers including Walmart, ALDI, Lowe’s, Starbucks, and Planet Fitness, and is minutes from Shelby High School and Cleveland Mall. This asset is ideally suited for investors seeking a high-performing retail corridor with limited future supply and strong demographic fundamentals. Comparable sales in the region support the asking price, with similar QSR facilities trading at over $1,000 PSF.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$1,068 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Former QSR For Lease/Sale

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Convenience Store, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

C3

APN/PARCEL ID

20871

ASK ABOUT THIS PROPERTY

Aida OsmanONE Commercial Real EstateMore Info
315-415-0295

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Aida OsmanONE Commercial Real EstateMore Info
315-415-0295

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.