850 Chatham RdWinston-Salem, NC 27101

Property Details for 850 Chatham Rd

Year built

1952

Construction

BRICK

Lot size

1.02 AC

Property size (Sq ft)

55,029 SF

Zone code

GB-S

Property type

Warehouses

Property subtype

Self storage facilities

APN

6825-99-2418.00

APU

682599241800

Description

This exceptional mixed-use property, located at 850 & 890 Chatham Road in Winston-Salem, North Carolina, presents a compelling redevelopment opportunity. Encompassing 57,190 square feet across two buildings on a one-acre lot, this property offers significant potential. Currently zoned for mixed-use development, the site boasts approved architectural plans for 46 loft apartments, along with space suitable for storage units or other creative uses. The property is part of the historic Chatham Mill Campus, with the successful Mill 800 (a 170-unit apartment complex completed in 2016) serving as a testament to the area's revitalization. This shovel-ready project benefits from a recently completed (2023) new roof and is situated in an Opportunity Zone, eligible for Historic Tax Credits and the NC Mill Rehab Tax Credit, as well as Brownfield Tax Incentives. Its prime location near downtown Winston-Salem, Wake Forest University, and the West End Historic District, coupled with convenient access to public transit, ensures strong potential for rental income and appreciation. The asking price is $1,950,000, translating to $34.10 per square foot. This is a rare chance to capitalize on a unique redevelopment project in a thriving North Carolina market. The property is registered on the Historic Registry, adding to its appeal and potential tax advantages.

• Alternative Use

  Use

  Valuation

  Residential

  $6,910,418

  Hospitality

  $6,329,906

  Educational

  $5,266,407

  Medical

  $5,447,527

  Retail

  $8,192,189

Location Insight

City

Winston Salem

County

Forsyth

State

North Carolina

Latitude

36.1051

Longitude

-80.2552

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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