116 Lipe Road, Troutman NC
- 3 Bed
- 1 Bath
- 1025 ft2
- 5.9 ac
For Sale $750,000
Remarks:
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.
General Information:
| List Price: | $750,000 |
| Status: | For Sale |
| Bedrooms: | 3 |
| Type: | Single Family Residence |
| Approx Sq. Ft.: | 1025 sqft |
| Parking: | Driveway |
| MLS Number: | CAR4296395 |
| Subdivision: | None |
| Bathrooms: | 1 |
| Lot Description: | Cleared, Corner Lot, Open Lot, Wooded |
| Year Built: | 1924 |
| Sewer Type: | Septic Installed |
Assigned Schools:
| Elementary: | Unspecified |
| Middle: | Unspecified |
| High: | Unspecified |
Lane Yates
704-232-7238
Broker In Charge
Price & Sales History
| Date | Event | Price | $/SQFT |
| 09-10-2025 | Listed | $750,000 | $732 |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| Troutman Elementary School | 2 miles | PK-05 | 5 |
| Shepherd Elementary School | 3 miles | PK-05 | 8 |
| Lakeshore Elementary School | 5 miles | PK-05 | 8 |
| Third Creek Elementary School | 5 miles | PK-05 | 2 |
| Success Charter School | 6 miles | KG-06 | 1 |
| Lake Norman Elementary School | 7 miles | PK-05 | 9 |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Properties For Sale Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Status | List Price | Days on Market |
| 116 Lipe Road, Troutman NC | 0 mi | $750,000 | days | |
| 208 Lipe Road, Troutman NC | 0.4 mi | $225,000 | days | |
| 245 Clontz Hill Road, Troutman NC | 0.8 mi | $623,300 | days | |
| 105 Chase View Lane, Troutman NC | 0.8 mi | $349,500 | days | |
| 139 Asmodean Lane, Troutman NC | 0.9 mi | $504,475 | days | |
| 141 Asmodean Lane, Troutman NC | 0.9 mi | $493,060 | days |
Sold Properties Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Property Type | Sold Price | Property Details |
Commute Distance & Time
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| Down Payment Amount | $990,000 |
| Mortgage Amount | $3,960,000 |
| Monthly Payment (Principal & Interest Only) | $19,480 |
* Expand Calculator (incl. monthly expenses)
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| H.O.A. / Maintenance |
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| Property Insurance |
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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28166
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Transportation to Work |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Property Listing Information
A Courtesy Listing Provided By RE/MAX Properties Plus, Inc.
116 Lipe Road, Troutman NC is a 1025 ft2 on a 5.900 acres lot. This is for $750,000. This has 3 bedrooms, 1 baths, and was built in 1924.
Based on information submitted to the MLS GRID as of 2025-09-10 10:45:07 EST. 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. Some IDX listings have been excluded from this website.
Properties displayed may be listed or sold by various participants in the MLS.
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Neither Yates Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
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