Viewing Listing MLS# 100456525
Edenton, NC 27932
- N/ABeds
- N/AFull Baths
- N/AHalf Baths
- 1,080SqFt
- 1898Year Built
- 0.03Acres
- MLS# 100456525
- Commercial
- G
- Active
- Approx Time on Market2 months, 2 days
- AreaChowan (27932)
- CountyChowan
- Subdivision N/A
Overview
Income producing historic office property built in 1898 in Downtown Edenton for sale with a 10.84% cap rate. Tenant is a CPA firm whose current lease pays $2,622 per month on a triple net lease where Tenant covers taxes, insurance, utilities, and repairs other than structural or major mechanical repairs. Building was completely renovated in 2007 with all new electric/wiring/panel, new HVAC, new windows except original storefront windows, and original oak floors were redone. Metal roof is in sound condition. Tenant does not intend on renewing lease after October 2025 so we are advertising it for lease along with the sale in hopes of finding a new Tenant with equal or better lease terms. Tenant would terminate lease earlier if Buyer wished to owner/occupy. Located across from the Hornthal Law Firm and the soon to be renovated Hinton Hotel, just two blocks from the Waterfront and frequently photographed historic cannons on the Waterfront. Property could also be converted to a residence with the addition of a kitchen, shower/bath, and laundry.
Baths Info
Building Info
Year Built: 1898
New Construction: No
Construction: Brick/Stone
Foundation: Slab
Roof: Metal
Exterior Features
Exterior Finish: Brick, Glass
Fuel Tank: None
Financial
Asking Price Text: $290,000
Tax Assessed Value: 99210
Total Property Taxes: 1160.75
Tax Year: 2023
Stipulation Of Sale: None
County Taxes: 426.60
List Pricesqft: 269
Financial Info Gross Income: 31464
Financial Info Total Annual Expenses: 0.00
Financial Info Net Operating Income: 31464
Financial Info Cap Rate: 10.84
Terms: 1031 Exchange,Cash,Conventional
HOA Info
Interior Features
Flooring: Wood
Lot Info
Lot Sqft: 1,144
Lot Dimensions: TBD
Acres: 0.03
Location: Cent Business District, Gen Bus District, Historic District
Lot Water Features: None
Road Type: 2 - 3 Lanes, Public (City/Cty/St)
Misc Features
Special Assessments: N/A
Misc Info
Federal Flood Ins Avlbl: Yes
Roadtrans Access Rail: Less than 5 Miles
Roadtrans Access Interstate: 16+ Miles
Roadtrans Access Port: Less than 5 Miles
Roadtrans Access County Highway: Less than 5 Miles
Roadtrans Access Airport: Less than 5 Miles
Roadtrans Access State Highway: Less than 5 Miles
Parking Info
Parking Driveway: Public, Street Only
Property Features
Property Info
County: Chowan
Cobra Zone: No
Zoning: CD
Subdivision Original: N/A
City Limits: Yes
Sign On Property: No
Class Type: G
Restrictions
Sale / Lease Info
Sale Lease: Sale
Lease Types: NNN
Possession: At Closing,Subject To Tenant Rights
Sale Lease Includes: Buildings,Land
Schools
SqFt Info
Sqft: 1,080
Sqft Total: 1,080
Sqft Total Available: 1,080
Sqft Office: 1,080
Unit Info
Utilities /HVAC
Cooling System: Central
Heating System: Heat Pump
Water Heater: Electric
Water Sewer: City Water, Municipal Sewer, Natural Gas Available
Courtesy of Rich Company