116 Lipe Rd

257,004 / 5.9
Lot Size / Acres

Description

This 5.9-acre investment opportunity checks every box for investors seeking immediate cash flow and long-term upside. Located just 1 mile from I-77 and under 15 minutes to Lake Norman State Park, this property sits in a high-demand rental corridor with strong tenant appeal and future commercial growth potential. Two income-producing homes—116 & 128 Lipe Rd—convey at closing, providing day-one rental income and reducing your holding costs from the start. Both homes do need some TLC, presenting a value-add...This 5.9-acre investment opportunity checks every box for investors seeking immediate cash flow and long-term upside. Located just 1 mile from I-77 and under 15 minutes to Lake Norman State Park, this property sits in a high-demand rental corridor with strong tenant appeal and future commercial growth potential. Two income-producing homes—116 & 128 Lipe Rd—convey at closing, providing day-one rental income and reducing your holding costs from the start. Both homes do need some TLC, presenting a value-add opportunity for investors to renovate, increase rents, and build additional equity. Existing well and septic systems are already in place, and the mostly cleared acreage creates a streamlined path for expansion. Whether your goal is to increase doors, add additional rental units, or maximize density over time, this property is primed for scalability. The Neighborhood Business (NB) zoning adds significant value for investors. Continue operating as residential rentals while holding for appreciation, or position the property for future commercial or mixed-use development without the typical rezoning delays. This flexibility allows you to execute multiple exit strategies—cash flow, redevelopment, or resale—on your timeline. With convenient highway access and proximity to major employment areas and recreational destinations, the location supports consistent rental demand today while strengthening its appeal for future commercial tenants. For investors looking to build wealth through a combination of immediate income and long-term appreciation, this property offers a rare blend of stability, flexibility, and growth potential. Opportunities with existing cash flow, infrastructure in place, and favorable zoning are limited—this is one worth adding to your portfolio.
  1. Listed by RE/MAX Properties Plus, Inc. • kristin@cflandandhomes.com

Property Details for 116 Lipe Road

Subdivision Name
None
LISTING UPDATED: 04/30/2026 02:47 PM

Property Details for 116 Lipe Road

StatusActive
MLS #4376614
Days on Market65
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeLand
MLS TypeLand / Acreage
Year Built-
Lot Size5.90 AC
CountyIredell County

Location

Listing Courtesy of RE/MAX Properties Plus, Inc.
Add your commute

Building Information for 116 Lipe Road

Lot Size5.90 AC

Payment Calculator

$3,618 per month

30 year fixed, 6.36% Interest

Principal and Interest

$3,488

Property Taxes

$130

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 116 Lipe Road

Summary
Location and General Information
  • Road Frontage Type: County Road, Interstate 1 mile or Less
  • Longitude: -80.861455
  • Zoning: NB
  • Latitude: 35.673407
Taxes and HOA Information
  • HOA YN: No
  • HOA Subject To: None
  • Tax Assessed Value: $220,770.00
  • Parcel Number: 4740-75-1250.000
  • City Taxes Paid To: No City Taxes Paid
School Information
  • Middle Or Junior School: Unspecified
  • High School: Unspecified
  • Elementary School: Unspecified
Parking
  • Parking: Open Parking YN: No
  • Parking: Carport YN: No
Property
Lot Information
  • Below Grade Finished Area: 0.0
  • Acres Cleared: 5.9
  • Sq Ft Building Minimum: 0
  • Lot Features: Cleared, Corner Lot, Open Lot, Wooded
  • Lot Size Units: Acres
  • Possible Use: Commercial, Residential
  • Property Type: Land
Property and Assessments
  • Geocode Confidence: High
  • Photos Count: 11
  • Road Responsibility: Publicly Maintained Road
  • Senior Community YN: No
  • Restrictions: Other - See Remarks
  • Restrictions Description: Property is now zoned NB within Iredell County. List of Permitted Uses are in the attachments.
Utilities
  • Sewer: Septic Installed
  • Water Source: Well
Interior and Exterior Features
Exterior Features
  • Pool Private YN: No
  • Road Surface Type: Paved
  • Other Structures: House-As Is, Manufactured Home(s), Shed(s)
Interior Features
  • Habitable Residence YN: Yes
Rental
Rent Information
  • Lease Considered YN: No

Property History for 116 Lipe Road

DateEvent & SourcePriceAppreciation
Apr 30, 2026

Listed (Active)

CANOPY #4376625

$699,900
Apr 30, 2026

Listed (Active)

CANOPY #4376614

$699,900
Mar 13, 2026

Withdrawn

CANOPY #4231119

$750,000
DateEvent & SourcePrice
04/30/2026

Listed (Active)

CANOPY #4376625

$699,900
04/30/2026

Listed (Active)

CANOPY #4376614

$699,900
03/13/2026

Withdrawn

CANOPY #4231119

$750,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 116 Lipe Road

Taxable ValueLand$154,990Additions$65,780Total$220,770
Tax Record2025$1,565 ($130 / month)
Home Facts
Beds3Baths1Total Finished SqFt1,025 SqFtAbove Grade Finished SqFt1,025 SqFtStories1Lot Size257,004 SqFtStyleSingle Family ResidenceYear Built1924Year Renovated1939ZoningRACountyIREDELLAPN4740-75-1250.000Fireplace TypeHas Fireplace

Schools near 116 Lipe Road

This home is within Iredell-Statesville School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Troutman Elementary School
PublicPK to 5

Troutman Middle School
Public6 to 8

South Iredell High School
Public9 to 12

ISS Virtual Academy
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Explore Nearby Homes

116 Lipe Road is a 5.9 ac of land for sale in Troutman, NC 28166. This property was listed for sale on April 30, 2026 by RE/MAX Properties Plus, Inc., it's currently listed at $699,900. This listing's school district is Iredell-Statesville School District. Nearby schools include Troutman Elementary School, Troutman Middle School and South Iredell High School. 116 Lipe Road is a 0-bed, 0-bath, 5.9 ac of land on a 257,004 sq. ft. / 5.9 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Properties Plus, Inc.

Based on information submitted to the MLS GRID as of 04/30/2026 02:47 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.