107-117 E Innes St - Storefront Retail/Office FOR SALE


Salisbury, NC 28144
$1,875,000 USD
704-213-6846
107-117 E Innes St, Salisbury, NC for Sale
$1,875,000 USD
Storefront Retail/Office - FOR SALE
1/12
null | 7.01% Cap Rate

107-117 E Innes St
Salisbury, NC 28144


HIGHLIGHTS

  • NCDOT average daily traffic count 18,000.
  • 1-mile off Exit 76/Interstate-85.
  • Landmark Historic Amtrak Station 3-block proximity
  • $13M Bell Tower Green central-city park 1.5-block proximity
  • Within the Salisbury Downtown Historic District | National Register of Historic Places
  • Desirable location

OVERVIEW

One of Salisbury's premier mixed-use buildings in historic downtown. Seven fantastic Class-A spaces: main-level restaurant; 3 main-level retail spaces separated by foyer with double-door entry, show-room quality windows; 4 walk-up 2nd-story apartments. Impressive rent roll, mid 6% cap rate, very low vacancy and solid rental history. Circa 1900s, two well-maintained full brick structures divided by pilasters in contrasting color: EDPM roofs. High visibility in very center of downtown historic district: NCDOT average daily traffic count 18,000. Main facade is dramatized by array of (6) pairs of tall arched windows and decorative gabled pediments. Addresses are 107-117 East Innes St, centrally located amidst a variety of successful shops, restaurants, services, and Bell Tower Green central-city park. 1-mile off exit 76/I-85. Located in Salisbury's original Historic District and listed in the National Registry. Building was restored using National Park Service Historic Guidelines.This is two buildings that were built together. One EDPM roof is about 25 years old, the other is just shy of 20 years old. The HVACs in the restaurant (2) are 15 years old, the other commercial HVACs are less than 7 years old. 2 residential unit HVACs are 3 years old and the other 2 are 5 years old. Water and electricity are individually metered. Handicap accessible ramps at two front entrances. All showings must be set up through listing agent, pre approved or proof of funds required. 2 Walk in coolers and hood system with 3 hood fans convey. Half the building is a dry Sprinkler system The restaurant side is not sprinkled

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

7.01%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,204 SF

ZONING

B5:CENTRAL

APN/PARCEL ID

010-5521

ASK ABOUT THIS PROPERTY

Greg RappSalisbury Real Estate LLCMore Info
704-213-6846

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Greg RappSalisbury Real Estate LLCMore Info
704-213-6846

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.