116 Lipe Road, Troutman NC
- 3 Bed
- 1 Bath
- 1025 ft2
- 5.9 ac
For Sale $750,000
Remarks:
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.
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 | $319,000 | days | |
| 179 Crownpiece Street, Troutman NC | 0.9 mi | $329,000 | days | |
| 139 Asmodean Lane, Troutman NC | 0.9 mi | $504,475 | 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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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28166
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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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