Asheville Market | Asheville
City Place | Durham
The Central | Chapel Hill
306 West Franklin | Chapel Hill
Devon Center | Morrisville
Plaza West Shopping Center | Raleigh
University Plaza | Pembroke
Lyerly Mill | Hickory
Market of Wake Forest | Wake Forest
Lyerly Mill | Hickory
Zapolski Real Estate and its partner Delphi Development are seeking buyers, tenants, or joint-venture partners for an exciting historic renovation project in western North Carolina.
Located in Hickory, NC a historic town fast becoming a center for the creative economy, the former Lyerly Hosiery Mill Building is a premiere redevelopment opportunity. This opportunity is made all the more attractive by the availability of very significant federal, state, and local tax credit and grant programs, that will reimburse the owners in excess of 60% of the qualified costs of redevelopment. Built in 1930 and listed on the National Register of Historic Places, the original Mill building is just over 37,000 square feet. Featuring enormous windows on the northern and southern walls, high ceilings, and wide plank pine flooring, the Old Lyerly Mill is ideal for adaptive re-use as office, retail, and/or residential units. The site is over 4 acres in size, capable of supporting significant additional development. Excellent visibility and high traffic counts on important local routes add to the site’s potential.
- 37,000 square foot historic mill building built in 1930.
- The property is just over 4 acres, Zoned C-5, which allows most commercial and residential uses.
- Eligible for Historic Tax Credits-40% State plus 20% Federal-projected to be worth $3.5 million on a full rehab.
- Eligible for City of Hickory Redevelopment Grants worth up to $350,000.
- The site is located on Hwy 127 South at 1st Avenue-the primary entrance to the city center.
- Traffic counts are in the high 20,000 vehicles per day (VPD) with peaks above 30,000 VPD
- In addition to the 37,000+ sq ft historic mill, the site will support up to 20,000 sq ft of new development and still provide with ample parking.
In-progress construction photos:
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