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100 S Water St
2,972 SF of Retail Space Available in Elizabeth City, NC 27909
Highlights
- Prime Downtown location near the waterfront
- Open plan with restaurant layout done by architect or choose your own build out
- Opportunity Zone
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,972 SF | 5-10 Years | $17.62 /SF/YR $1.47 /SF/MO $189.66 /m²/YR $15.81 /m²/MO $4,364 /MO $52,367 /YR | Triple Net (NNN) |
1st Floor
Former cleaners building built in 1930 with new roof and gutted to be ready for restaurant build out based on architectural plans or other build out to suit qualified tenants with long term NNN lease.
- Lease rate does not include utilities, property expenses or building services
- Partially Demolished Space
- Downtown stoplight corner lot with river views
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 100 S Water St , Elizabeth City, NC 27909
| Property Type | Retail | Year Built | 1930 |
| Gross Leasable Area | 3,404 SF |
| Property Type | Retail |
| Gross Leasable Area | 3,404 SF |
| Year Built | 1930 |
About the Property
Exciting opportunity to lease the iconic downtown Rochelle Cleaners building in downtown Elizabeth City, which is within a Qualified Opportunity Zone! The uniquely designed building is 3,404 total sq ft with +/-3,011 interior sq ft and it sits on a 4,952 sq ft corner lot. Landlords have recently replaced the roof and gutted the interior to make way for Tenant's desired build out, or the stunning restaurant plans their architect laid out which are included in the attachments. Restaurant plans include bar w/18 bar seats, 60 interior seats at 18 tables, and 68 exterior seats at 17 tables on the 1,531 sq ft nation in front, as well as kitchen, 2 ADA toilets, walk-in, dish room, etc.. Asking rate of $5,000 per month triple net is if Tenant qualifies for a long term lease and Landlord covers build out. Price could be lower for a less costly office/retail/gallery build out. Build out is subject to approval by the NC State Historic Preservation Office. Since it is an adaptive reuse project and the interior is already demolished, any proposed floor plan will be approved without issue. However, we foresee being able to make very few changes to the exterior. The building has been accepted into the NC Dry Cleaning Solvent CleanUp Act Program.
- Restaurant
-
Alex Rich -
The Rich Company
Presented by
100 S Water St
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