310 3 StWinston-Salem, NC 27101

Property Details for 310 3 St

Year built

1894

Construction

WOOD

Lot size

0.54 AC

Property size (Sq ft)

31,814 SF

Zone code

CI

Property type

Office properties

APN

6835-36-6857.00

APU

683536685700

Description

This exceptional 33,000-square-foot mixed-use building, located at 310 East Third Street in Winston-Salem, NC, presents a unique investment opportunity. Originally constructed in 1893 and extensively renovated in 2021, this five-story building boasts a rich history and prime location within the Innovation Quarter, a thriving hub of research, technology, and education. The property, listed on the National Historic Register, qualifies for significant historic tax credits, including a 50% property tax reduction. Its versatile layout, featuring open floor plans ranging from 2,500 to 5,000 square feet per floor, is suitable for a variety of uses, including office, retail, restaurant, event space, or multifamily residential. The 0.54-acre lot provides ample on-site parking with 42 surface spaces. Its strategic location borders the Winston-Salem Greenway, enhancing its appeal and accessibility. The building's advantageous positioning within an Opportunity Zone further enhances its investment potential. The Innovation Quarter, a 2.1-million-square-foot development, is home to over 170 companies, five academic institutions, and thousands of workers and students, ensuring a vibrant and growing surrounding community. This property offers a blend of historic character and modern functionality, making it an ideal investment for owner-users or developers seeking a unique and high-potential asset in a rapidly expanding urban core. The asking price is $4,400,000. The property's APN is 6835-36-6857 and is zoned CI- Commercial Intensive.

• CAP approach

  CAP return

  Valuation

  6%

  $3,490,369

  6.5%

  $3,221,879

  7%

  $2,991,745

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,038,245

  Geo Method

  $5,387,383

• Alternative Use

  Use

  Valuation

  Residential

  $3,995,130

  Hospitality

  $3,659,518

  Educational

  $3,044,676

  Medical

  $3,149,387

  Retail

  $4,736,162

Location Insight

City

Winston Salem

County

Forsyth

State

North Carolina

Latitude

36.098

Longitude

-80.2401

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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