205 W Main St
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205 W Main St
22,030 SF Retail Building Havelock, NC 28532 $975,000 ($44/SF)
Executive Summary
A value-add investment opportunity in Havelock, NC. The Property is located within “Eyesight” of Marine Corps Air Station Cherry Point.
The building is approximately 22,030 square feet on approximately 1.28 acres. The anchor tenant, at present, is Rent-A-Center. There is approximately 12,328 square feet of vacant space The largest vacant space is approximately 7,000 square feet. However, it is adjacent to an approximately 2,000 square foot space with a month-to-month lease, and an approximately 3,866 square feet vacant shop space with roll-up/drive-in doors. Several of the other tenants are month to month, which provides a great opportunity to reposition the Property and increase rents.
The roof on building was replaced in 2020.
The offering price is $975,000, which is approximately $44 per square foot (well below replacement cost).
The building is approximately 22,030 square feet on approximately 1.28 acres. The anchor tenant, at present, is Rent-A-Center. There is approximately 12,328 square feet of vacant space The largest vacant space is approximately 7,000 square feet. However, it is adjacent to an approximately 2,000 square foot space with a month-to-month lease, and an approximately 3,866 square feet vacant shop space with roll-up/drive-in doors. Several of the other tenants are month to month, which provides a great opportunity to reposition the Property and increase rents.
The roof on building was replaced in 2020.
The offering price is $975,000, which is approximately $44 per square foot (well below replacement cost).
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
22,030 SF
Building Class
B
Year Built
1953
Price
$975,000
Price Per SF
$44
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.40
Land Acres
1.28 AC
Zoning
Highway Commercial (HC) - Highway Commercial. A link the zoning table is below.
PROPERTY TAXES
| Parcel Number | 6-060-047 | Improvements Assessment | $875,600 |
| Land Assessment | $377,050 | Total Assessment | $1,252,650 |
PROPERTY TAXES
Parcel Number
6-060-047
Land Assessment
$377,050
Improvements Assessment
$875,600
Total Assessment
$1,252,650
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Michael Waldrop -
Waldrop Properties, LLC
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205 W Main St
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