Waterfront
Address
402 S Water Street, Elizabeth City, NC
Price
$ 169,000
Property Attributes
- MLS#100427114
- TypeCommercial
- CountyPASQUOTANK
- CityElizabeth City
- NeighborhoodElizabeth City
- Zip27909
- StyleBed and Breakfast,Mixed Use,Retail
- Year Built1915
- Taxes$ 1997
- Price$ 169,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage4400
- Lot Size0.15 Acres
Data Source:
Albemarle Area AOR - NCRMLS
Property Description
Unique opportunity to own and redevelop the Historic former Elizabeth City Milling Company Building near the waterfront of Downtown Elizabeth City, NC. Built in 1915, this two story building has a footprint of 4400 sq ft per floor and an additional 2000 sq ft of land in the front for parking and/or landscaping. Building is built over the Pasquotank River and currently consists of the four exterior walls, an internal wall, and floor joists. No floors or roof are currently on the building. Sellers have two concept pro forma's showing the first and second floor layouts of 8 apartment units consisting of 6 2 bed 2 bath units and 2 1 bed 1 bath units ranging from 571.45 - 1123.49 sq ft with 7100 sq ft of living space and the remainder being common area. The two pro forma's differ in the access being from the front or side. Estimated construction costs are $120,000 per unit and the 1br's should bring $1200/mo and the 2br's should bring $1400/mo for $10,800/mo or $129,600/yr making the year one return on investment projected at 11.4%.
| Price History | |
|---|---|
| 2/12/2024 | Listed $169,000 |
General Features
| Construction | Brick/Stone |
|---|---|
| Heating | None |
| Cooling | None |
| Utilities | Community Sewer Available,Community Water Available |
| Possession | At Closing |
| Roof | See Remarks |
| current use | Vacant |
| Zoning | CB |
| New Construction | No |
| Subdivision | N/A |
| County | Pasquotank |
| Stipulation of Sale | None |
| Property Type | G |
| HOA | No |
| Terms | 1031 Exchange,Cash,Conventional |
| Location | Cent Business District,Historic District |
| Tax Year | 2022 |
| Sale/Lease Includes | Buildings,Land |
| Status | Active |
| Special Assessments | N/A |
| Cobra Zone | Yes |
| Lot Sqft | 6400.00 |
| Days on Market | 122 |
| City Limits | Yes |
| Sub-Type | Bed and Breakfast,Mixed Use,Retail |
| Year Built | 1915 |
| City | Elizabeth City |
| Geo Lat | 36.297565 |
| Sale/Lease | Sale |
| Tax Assessed Value | 165100.00 |
| Airport | Less than 5 Miles |
| County Highway | Less than 5 Miles |
| Interstate | 11 - 15 Miles |
| Port | 16+ Miles |
| Rail | Less than 5 Miles |
| State Highway | Less than 5 Miles |
| Listing Member Name | Alex Rich |
| Geo Lon | -76.218549 |
| Location Type | Mainland |
| Street Name | Water |
Interior Features
| SqFt - Warehouse | 4400.00 |
|---|---|
| SqFt - Apx Total | 4400.00 |
Exterior Features
| Exterior Finish | Brick |
|---|---|
| Lot | Parcel 1 |
| Lot Dimensions | 50' w by 180' l |
| Parking Features | Additional Parking,Attached,Parking Lot |
| MLS Identifier | 20150918160742258811000000 |
| Lot Acres | 0.15 |
| Lot Water Feature | Second Row |
| SqFt - Total Available | 8800.00 |
| Road Type/Frontage | 2 - 3 Lanes,Public (City/Cty/St) |
| Frontage Type | ICW Front,River Front |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 27909
Price
Taxes
Visits
Year Built
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