For Sale
$595,000

3169 Wendell Blvd Wendell, NC 27591

Historic Charm, High ROI, Two Buildings

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional mixed-use investment opportunity in downtown Wendell, NC, presents two buildings on a 0.49-acre lot, totaling 2,031 square feet. The first building, a fully renovated 2,000 sq ft historic home, boasts a five-year history as a highly successful VRBO rental, generating approximately $42,000 in annual NOI. The second building, a 1,632 sq ft renovated office/retail space, offers four office areas, a conference room, kitchen, classroom, and storage. Both buildings are situated on three prominent roads (Wendell Blvd, Marshburn Rd, and Academy St), providing excellent visibility and accessibility. Currently operating at 100% occupancy since October 1, 2018, this property offers a compelling 7.06% cap rate. The buildings, separated by only 6-8 feet, are sold together and could be easily combined to create a larger 4,000 sq ft building. Built in 1915 and renovated in 2016, the property benefits from a tax reduction due to its age. Zoned RES and COMM, it offers flexibility for various uses. The property is conveniently located within walking distance of downtown Wendell. Showings require coordination due to the property's popularity as a vacation rental. The asking price is $595,000.

Highlights

  • $595,000 asking price for a mixed-use, multifamily, retail investment property.
  • 7.06% cap rate with a $42,000 annual NOI.
  • 100% occupancy since October 1, 2018.
  • Two buildings totaling 2,031 square feet on a 0.49-acre lot in downtown Wendell, NC.
  • Includes a fully renovated historic home (2,000 sq ft) and a renovated office/retail building (1,632 sq ft).
  • Property is zoned RES and COMM, offering flexibility for various uses.

Property Details for 3169 Wendell Blvd

Property type
Retail properties, Mixed-use properties
Square Feet
2,031 SF
Class
A
Year Built/Renovated
1915/2016
Buildings
2
Stories
1
Lot Size (sq. ft)
21,344 SF
Units
2

Location Insight

City
Wendell
County
Wake
State
North Carolina
Latitude
35.7863862
Longitude
-78.3740448

FAQs

What type of property is this?
Retail property - Historic Charm, High ROI, Two Buildings
Where is the retail property located?
The property is located at 3169 Wendell Blvd Wendell, NC.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: $595,000 asking price for a mixed-use, multifamily, retail investment property.; 7.06% cap rate with a $42,000 annual NOI.; 100% occupancy since October 1, 2018.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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3169 Wendell Blvd
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