116 Lipe Road
116 Lipe Road
Troutman, NC 28166
$750,000
- Bedrooms: 3
- Bathrooms: 1
- Lot Size: 5.9 Acres
Description
This rare 5.9-acre property is the kind of opportunity that smart investors look for but seldom find. Perfectly positioned just 1 mile from I-77 and less than 15 minutes from Lake Norman State Park, this location combines strong rental demand with long-term development flexibility. Two existing income-producing homes—116 & 128 Lipe Rd—will convey at closing, allowing the next owner to begin collecting rental income immediately. With well and septic already in place and the majority of the acreage cleared, the site offers the ideal foundation for expanding with additional units or holding for future commercial use. The property’s Neighborhood Business (NB) zoning is a key advantage, providing a rare level of flexibility. The county allows the current residential use to continue, enabling investors to build their portfolio without rezoning hurdles. Over time, the property can be repositioned for commercial or mixed-use development, offering multiple paths for future appreciation and increased cash flow. This combination of immediate income and long-term upside makes the property uniquely positioned for both buy-and-hold investors and strategic developers. Its location further amplifies its value. With quick highway access, the property is within easy reach of local employers, recreation, and major commuter routes—an attractive setup for both long-term tenants and future commercial tenants. Whether your strategy is to add additional rental units, hold the land as values rise, or transition to a larger-scale development project, this acreage gives you the flexibility to move at your own pace and on your own timeline. Opportunities like this don’t come around often: income on day one, infrastructure already in place, and zoning that works with your vision, not against it. Investors searching for a property that checks both the “cash flow” and “growth potential” boxes won’t want to miss this. Schedule a private tour and imagine the possibilities this 5.9-acre investment can bring to your portfolio.
Property Summary
| Property Type: | Residential | Property Subtype : | Single Family Residence |
| Year Built : | 1924 | Construction Type : | Manufactured,Site Built |
| Lot Size : | 5.9 Acres | Living Area : | 1,025 sqft |
Property Features
- Cleared
- Corner Lot
- Open Lot
- Wooded
Appliances
- Other
More Information
- Construction : Other - See Remarks
- Roof : Metal
- Parking : Driveway
- Heating : Other - See Remarks
- Cooling : Other - See Remarks
- Water Source : Well
- Road : Publicly Maintained Road
- Listing Terms : Cash, Conventional
Based on information submitted to the MLS GRID as of 11-15-2025 21:05:05 UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.