850 Chatham RdWinston-Salem, NC 27101

  • Industrial properties
  • 55,029 SF
For Sale
$1,950,000 View listing

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
Industrial properties
Property subtype
Other warehouses
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $6,910,418
    Hospitality
    $6,329,906
    Educational
    $5,266,407
    Medical
    $5,447,527
    Retail
    $8,192,189
850 Chatham Rd, Winston-Salem, North Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$1,664
$54,300
$64,300
$118,600
-
$54,300
$64,300
$118,600

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