116 Lipe Road
116 Lipe Road
Troutman, NC 28166
$750,000
- Bedrooms: 3
- Bathrooms: 1
- Lot Size: 5.9 Acres
Description
This 5.9-acre property is an incredible opportunity for real estate investors looking to grow their rental portfolio in a prime location. Situated just 1 mile from I-77 and less than 15 minutes from Lake Norman State Park, the property offers both convenience and strong demand for rental housing. Two existing homes, located at 116 & 128 Lipe Rd, will remain with the property at closing, allowing investors to begin generating rental income right away. With well and septic already in place and most of the acreage cleared, there is plenty of room to add additional homes, creating the potential for a steady stream of income-producing properties all on one site. While the property has been rezoned Neighborhood Business (NB), the county permits continued residential use, making it especially attractive for investors who want to focus on rental income while holding land that has strong future development potential. The existing zoning also provides long-term flexibility should an investor choose to transition the property into commercial or mixed-use purposes down the road. Opportunities like this—where you can start earning rental income immediately while also securing acreage with future upside—are rare in today’s market. Whether you’re looking to hold and rent, expand with additional homes, or strategically plan for future development, this property provides a unique investment with multiple pathways to long-term growth and cash flow.
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 08-27-2025 16:55:05 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.