116 Lipe Rd
Troutman, NC 28166
(on 5.90 acres)
Local Information
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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 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.
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.
Home Highlights
Parking
No Info
Outdoor
No Info
HOA
None
Price/Sqft
No Info
Listed
8 days ago
Home Details for 116 Lipe Rd
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MLS Status: Active |
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View No View |
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Exterior Home Features Other Structures: Residence, Manufactured Home(s), Shed(s) |
Parking & Garage No Carport |
Frontage Road Frontage: County Road, Interstate 1 mile or LessResponsible for Road Maintenance: Publicly Maintained RoadRoad Surface Type: Paved |
Water & Sewer Sewer: Septic Installed |
Surface & Elevation Elevation Units: Feet |
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Days on Market: 8 |
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Property Type / Style Property Type: LandProperty Subtype: Unimproved Land |
Building No Additional ParcelsIs Habitable Residence |
Property Information Usage of Home: Commercial, ResidentialParcel Number: 4740751250.000 |
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Price List Price: $699,900 |
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Direction & Address City: TroutmanCommunity: None |
School Information Elementary School: UnspecifiedJr High / Middle School: UnspecifiedHigh School: Unspecified |
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Listing Agent Listing ID: 4376614 |
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Not Senior Community |
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Lot Area: 5.9 acres |
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Special Conditions: Estate |
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Listing Terms: Cash, Conventional |
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Mls Number: 4376614Attribution Contact: kristin@cflandandhomes.com |
Last check for updates: about 6 hours ago
Listing Provided by: Kristin Hildebrand
RE/MAX Properties Plus, Inc.
Source: Canopy MLS as distributed by MLS GRID, MLS#4376614
Also Listed on Canopy MLS as distributed by MLS GRID.
Price History for 116 Lipe Rd
| Date | Price | Event | Source |
|---|---|---|---|
| 04/30/2026 | $699,900 | Listed For Sale | Canopy MLS as distributed by MLS GRID #4376614 |
| 03/13/2026 | $750,000 | ListingRemoved | Canopy MLS as distributed by MLS GRID #4296395 |
| 08/27/2025 | $750,000 | Listed For Sale | Canopy MLS as distributed by MLS GRID #4296395 |
| 08/23/2024 | $650,000 | ListingRemoved | Canopy MLS as distributed by MLS GRID #4049791 |
| 07/16/2023 | $650,000 | Listed For Sale | Canopy MLS as distributed by MLS GRID #4049791 |
| 04/05/2015 | $800,000 | ListingRemoved | Agent Provided |
| 02/27/2013 | $800,000 | Listed For Sale | Agent Provided |
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Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $1,565 |
| Assessment | $220,770 |
Home facts updated by county records
Comparable Sales for 116 Lipe Rd
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
1.20 | Lot/Land | $325,000 | 06/18/25 | - | - | ||
1.34 | Lot/Land | $94,000 | 08/26/25 | - | - | ||
1.15 | Lot/Land | $58,000 | 08/07/25 | - | - | ||
1.54 | Lot/Land | $27,500 | 06/05/25 | - | - | ||
2.01 | Lot/Land | $450,000 | 10/03/25 | - | - | ||
1.59 | Lot/Land | $74,500 | 09/10/25 | - | - |
Assigned Schools
These are the assigned schools for 116 Lipe Rd.
- South Iredell High School
- 9-12
- Public
- 1711 Students
4/10GreatSchools RatingParent Rating AverageOne year ago, I would have recommended this school. However, this school has lost a lot of its previously great administrative staff. It is over crowded and run terribly now. Some people had blank schedules till the day school started. I will probably have to drop my classes due to this and it is putting me at a disadvantage.Parent Review4y ago - Troutman Elementary School
- PK-5
- Public
- 698 Students
6/10GreatSchools RatingParent Rating AveragePersonally, my experience with this school was awful. I went here whenever I was a child. I don’t know if it is changed I’m currently graduated and I don’t plan on ever bringing my child. They ignored me whenever I was being viciously bullied, and the favoritism was awful. They would sent me with an iPad because I struggled with school and never worked with me whenever I couldn’t get to where the other kids were instead, I just fell behind and for this, I think the school is awful.Other Review2y ago - Troutman Middle School
- 6-8
- Public
- 399 Students
2/10GreatSchools RatingParent Rating AverageWe have a small school with BIG school spirit! TMS is the heart of Troutman with the community coming together in times of need.Parent Review10y ago 
Check out schools near 116 Lipe Rd.
What Locals Say about Troutman
At least 34 Trulia users voted on each feature.
93 % Say car is needed
88 % Say yards are well-kept
88 % Say parking is easy
73 % Say there's holiday spirit
71 % Say it's dog friendly
71 % Say kids play outside
63 % Say there's wildlife
61 % Say people would walk alone at night
54 % Say it's walkable to restaurants
53 % Say it's quiet
53 % Say neighbors are friendly
44 % Say they plan to stay for at least 5 years
44 % Say it's walkable to grocery stores
44 % Say streets are well-lit
38 % Say there are sidewalks
30 % Say there are community events
Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Kristin Hildebrand, RE/MAX Properties Plus, Inc.
Based on information submitted to the MLS GRID as of 2026-05-08 10:43:19 PDT. 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. Click here for more information
116 Lipe Rd, Troutman, NC 28166 is a lot/land. This property is currently available for sale and was listed by Canopy MLS as distributed by MLS GRID on Apr 30, 2026. The MLS # for this home is MLS# 4376614.