Find Affordable Properties in Metro Charlotte’s Cities of Hickory, Conover, and Newton
The cities of Hickory, Conover, and Newton are located north west of Uptown, Charlotte, about an hour’s drive away.
Hickory is the largest of these three cities, with Conover and Newton being somewhat of submarkets of the Hickory area.
This quieter area of metro Charlotte holds a variety of older manufacturing buildings because of its history in the furniture-making industry. It’s also an affordable place to find retail and residential, and has new developments popping up along the I-40 and U.S. Route 321 corridor.
At Regent CRE, we’re here to help you find your ideal metro Charlotte property in the Hickory, Conover, and Newton areas – and beyond. Call us now to get started!
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Furniture Capital of the World
Commercial Real Estate in Hickory, Conover, and Newton
Life in Hickory, Conover, and Newton
Hickory, Conover, and Newton Opportunities:
- Investment
- Office Space
- Industrial Space
- Warehouse Space
- Flex Space
- Retail Space
- Industrial Outdoor Storage (IOS)
Your Neighbors in Hickory, Conover, and Newton
North Carolina – The Furniture Capital of the World
Though humble compared to the bigger city of metro Charlotte, the Hickory area has a well-known history of its own. For decades, the area of Hickory has been known as the “Furniture Capital of the World”, along with its busy neighbor High Point, located a little over an hour east near Greensboro. Since the 1890s, furniture plants in Hickory have been crafting high-quality pieces, and the progress has continued throughout the 1900s and into the 2000s. Although many details of the industry have changed, people all over the world still count on Hickory for their high-end furniture.
In fact, around 60% of the world’s furniture is estimated to come from furniture manufacturers and vendors in North Carolina.
In order to continue providing the local, national, and even global market with furniture, government and education leaders are working to continue to train artisans in the furniture-making industry. In 2014, the Catawba Valley Furniture Academy began at Catawba Valley Community College’s (CVCC) East Campus. This program seeks to continue training craftsmen to provide for the furniture industry’s needs.
Commercial Real Estate in Hickory, Conover, and Newton
While these industrious cities of North Carolina have continued their long history of furniture making, times have changed, and the area has also become more modern throughout the years. As some of Hickory’s furniture making transferred out to other countries, more older manufacturing and warehouse buildings have become available in this North Carolina locale.
Being an hour away from Charlotte, the Hickory area is largely an independent suburb. It has its own retail options and grocery stores, plenty of residential housing, and even the Hickory Regional Airport (a “general aviation airport, not currently served by a commercial airline“).
Hickory, Conover, and Newton have options in nearly all property categories of commercial space, although industrial, warehouse, retail, and IOS (industrial outdoor storage) are most common. A lot of the new development tends to find prime location options along I-40 and U.S. Route 321. These visible site options provide excellent points of access in a great location that’s both convenient and highly trafficked.
Hickory, Conover, and Newton all tend to be more industrial and a bit less wealthy with lower household incomes than other areas of metro Charlotte. This provides a great opportunity for investors in the local market to find less expensive properties.
What our clients are saying
Life in Hickory, Conover, and Newton, NC
The metro Hickory area is known for its beautiful views, abundant parks, major retail centers, local shops, and a low crime rate. Although there’s plenty of business and industry in these cities, it has minimal traffic and a small town feel compared to metro Charlotte.
Residents enjoy the slightly slower pace and high quality of life that Hickory, Conover, and Newton offer. In these areas, there are a number of job options, beautiful mountain views, plenty of restaurants, and new businesses opening. Plus, it’s only an hour’s drive to the center of Charlotte.
Investment Opportunities in Hickory, Conover, and Newton
A lot of the investment opportunities in these cities tend to be found along the I-40 corridor, largely because of the available land. There are a lot of large distribution warehouse buildings and manufacturing buildings along this interstate.
Another common investment project in this area is the redevelopment of older properties, especially the older manufacturing buildings, that need some sprucing up and renovation. Greenfield investing can also be a popular investment option in the Hickory area. The lower cost of land here makes it a great place to find more square feet of commercial property at more affordable rates than you would in other parts of metro Charlotte.
Economic development in these areas also tends to be more aggressive. The state and the local municipalities are working hard to provide incentives in order to encourage employers to come in and create jobs here, with the goal of further boosting the economy. These smaller cities are hungrier for business than the downtown Charlotte area. These incentives provide excellent opportunities for investors who are looking to move a business to the area or to start a new business in this smaller-town Charlotte locale.
Although industrial, warehouse, IOS, and retail tend to be the most common commercial property types in these cities, Hickory, Conover, and Newton have a little bit of everything.
Office Space in Hickory, Conover, and Newton, NC
The office space in these cities is most concentrated in Hickory NC. While there aren’t a lot of bigger companies or company headquarters buildings, there are a number of options for smaller office spaces. Medical offices tend to be popular here, including doctor’s offices, dentist’s offices, and the like.
Most office buildings in these cities fall into either Class B or Class C. Properties for sale tend to run at around $131/sf, while rent opportunities average around $16/sf/yr.
Industrial Space in Hickory, Conover, and Newton, NC
The warehouse market of Gastonia has been growing, largely due to the proximity to I-85. Lately, a lot of bigger warehouses are being constructed along this I-85 corridor. These commercial properties are more affordable than the airport neighborhood and other more metropolitan areas, but still offer convenient access.
Warehouse space in Gastonia generally averages around $10/sf/yr for rental properties. The properties for sale here range quite a bit depending on factors like age, size, and features. However, the average rate hovers around $100/sf.
Warehouse Space in Hickory, Conover, and Newton, NC
There are also a number of warehouse options available in the Hickory/Conover/Newton area. Most of these spaces are under 40,000 square feet, but there are also a handful of large buildings available. Some of these are over 100,000 square feet, and a few are even over 300,000 square feet.
Like general industrial space, warehouse property is affordable in these cities. The average cost of warehouse space for sale is $65/sf, while the average lease rate is $7/sf/yr.
Flex Space in Hickory, Conover, and Newton, NC
Flex space isn’t as popular as industrial and warehouse space in these cities. There’s simply not as much new construction in this area, and it’s not as fast-growing as other parts of Charlotte.
Still, there are some options for finding flex properties, and the choices that do exist here are prized for their affordability. The flex options here provide a mix of different opportunities, from buildings with more warehouse space to newer flex properties with private offices.
The average rental rate for these flex spaces is around $9/sf/yr, while the average sale price is $60/sf. For companies who don’t necessarily need to be in a high-growth area, Hickory, Conover, and Newton provide an affordable alternative for finding available flex space.
Retail Space in Hickory, Conover, and Newton NC
As an independent suburb, the metro Hickory area has a variety of retail and restaurant options that provide for the needs of the local residents. From Walmart Supercenters to car dealerships and more, residents can find nearly everything they need in these local towns without having to travel to the more populous areas of Charlotte. There are also many convenient local shops and smaller grocery stores – such as Food Lion and Publix – that give residents convenient access to the essentials.
Not surprisingly, with its long history in furniture making, there are also a number of furniture outlets, galleries, and shopping centers around the Hickory area.
The cost of retail properties varies quite a bit in this area, with older buildings listed for around $65/sf, and higher-end properties with easy access and newer features running much higher. The average cost of properties for sale here is around $313/sf. For retail rental properties, you can expect to pay around $15/sf/yr.
Industrial Outdoor Storage (IOS) Space in Hickory, Conover, and Newton, NC
These Catawba County cities provide excellent opportunities for industrial outdoor storage (IOS) space. This is largely due to their proximity to I-40 and U.S. Route 321, as well as the amount of available land still in these areas.
IOS space can be hard to find in more metro areas, but these smaller towns that aren’t as built up offer the opportunity for businesses to take advantage of the increasing popularity of industrial outdoor storage options.
In these metro Charlotte cities, you can find both IOS properties with existing warehouse space and infrastructure, as well as built-to-suit options.
Your Neighbors in Hickory, Conover, and Newton, North Carolina
In these North Carolina cities with a small-town feel, you’ll find all sorts of retailers, industrial businesses, and furniture companies. There aren’t a lot of big, white-collar corporations here, but that’s part of the reason why so many residents and businesses love these homey towns.
Here are some of the neighbors you can expect to run into in your new NC commercial home:
FAQs About Hickory, Conover, and Newton Near Charlotte, NC
What is Hickory, NC famous for?
Hickory, North Carolina is sometimes referred to as the “Furniture Capital of the World” because of its long history in furniture making. This history started in the early 1900s, when local businessmen recognized the opportunity that Hickory held due to its abundant lumber, skilled workforce, and location on the trade routes.
Is Hickory, NC still a popular place for the furniture industry?
Yes, definitely. Furniture is still a major industry in Hickory. Although many processes and methods have changed over the last 100 years, Hickory is still known for its high-quality craftsmanship in the furniture sphere.
The Hickory area is home to many popular furniture stores and outlets, such as Hickory Furniture Mart, Bernhardt Furniture Outlet, Smokey Mountain Furniture, Good’s Home Furnishings, and many others.
Is Hickory, NC a good place to start a business?
Hickory is a great place to start a business, largely due to the many incentives that the city offers. In addition to these business incentives, the area has a strong workforce and affordable land.
How much does commercial real estate cost in the Hickory/Conover/Newton area of North Carolina?
This industrial area of North Carolina offers affordable real estate, which is just one of the reasons that many businesses are attracted to it. While Hickory, Conover, and Newton offer commercial real estate options in nearly every property category, industrial, warehouse, retail, and IOS (industrial outdoor storage) are the most abundant.
The average cost of commercial real estate for lease around these cities is $10/sf/yr, while real estate for sale averages at $131/sf.
These numbers can vary significantly depending on factors such as square footage, location, features, and building class.
Save Time and Money on Your Commercial Real Estate Investment With Regent CRE
At Regent Commercial Real Estate, we understand how time-consuming and frustrating it can be to navigate the world of commercial real estate listings. From finding a property to negotiation to selling your current commercial home, the details of real estate can feel overwhelming – especially when you’re trying to run a business at the same time.
When you work with Regent CRE, you can relax. With nearly 1000 successful sales and lease transactions under our belt and over 10 years of experience in the metro Charlotte area, we understand the ins and outs of both the buying, leasing, and selling processes, as well as the details of the different submarkets around the greater Charlotte area. Whether you know exactly what you want, or you’re coming in from a different state or even a different country, we’ll work with you to get a deep understanding of your needs so that we can best leverage our experience and expertise to increase your business success.
When you partner with our team, you get the benefits of saved time and money as you experience the advantages of working with a CCIM– and SIOR-designated broker.
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