3169 Wendell BlvdWendell, NC 27591

Property Details for 3169 Wendell Blvd

Year built

1915

Lot size

0.49 AC

Property size (Sq ft)

2,031 SF

Property type

Investment properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Wendell

County

Wake

State

North Carolina

Latitude

35.7864

Longitude

-78.374

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