513 E Main St - Apartments FOR SALE


Elizabeth City, NC 27909
$459,000 USD
252-256-1279
513 E Main St, Elizabeth City, NC for Sale
$459,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

513 E Main St
Elizabeth City, NC 27909


HIGHLIGHTS

  • Very attractive facade
  • Historic Building on the Registry
  • Upgraded roof
  • Ready for development
  • Ample space
  • Renovation potential

OVERVIEW

Iconic Downtown EC's Selig's building was built in 1927 and has one of the most ornate facades in town. Building is currently 4,611 square feet (83' deep 26' wide)with 15' ceiling height on the first floor and 11'6"-12'6" second floor ceiling height. 2,158 square feet per floor with a 295 sq ft boiler room on the back of first floor. Seller had plans drawn up in 2023 show ability to have 4773 sq ft of area possible by putting a 2nd story on the boiler room. Building was purchased in 2022 with plans to renovate into 675 sf of 1st floor retail with a 2br 1,591 sf apartment in the rear of the 1st floor, redo the existing +/- 520 sf 1br apartment on the front of the 2nd floor and build out a new 1,987 sf 2br apartment in the rear of 2nd floor. Owners have gutted both floors. New rubber membrane roof was installed in 2010.

FOR SALE DETAILS

PRICE

$459,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

4

PRICE/UNIT

$114,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Selig's Jewelers Building

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

Central Business

APN/PARCEL ID

891308990384

ASK ABOUT THIS PROPERTY

Alex RichThe Rich CompanyMore Info
252-256-1279

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Alex RichThe Rich CompanyMore Info
252-256-1279

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