121 Center StLexington, NC 27292

Property Details for 121 Center St

Year built

1926

Lot size

0.19 AC

Property size (Sq ft)

4,020 SF

Zone code

U

Property type

Office properties

Property subtype

Office buildings

APN

11-089-0-001-0024

APU

1108900010024

Description

This exceptional commercial investment opportunity presents a fully renovated office building situated just 100 yards from the Davidson County Courthouse in Lexington, NC. The property, priced at $1,200,000, boasts a completely updated interior, including a new roof, new air conditioning in the detached apartment, and a fully modernized electrical system with brand new wiring. A detailed list of renovations is available upon request. The main office space is move-in ready and can comfortably accommodate six or more offices, featuring 1.5 bathrooms, a kitchen, a laundry room, and a partially unfinished basement. Adding to its income potential is a detached brick apartment, approximately 600 square feet, comprising a living area, two bedrooms, and a kitchen. The property also includes a paved parking area. This versatile building is ideally suited for a variety of professional uses, including law offices, medical practices, accounting firms, or surveying companies. The property is offered with owner financing for qualified buyers, subject to acceptable offer terms. This is a rare opportunity to acquire a prime commercial property in the thriving city of Lexington. Leasing of the property is not currently available. The property is not located on a lot with acreage.

• CAP approach

  CAP return

  Valuation

  6%

  $441,041

  6.5%

  $407,115

  7%

  $378,035

• Comparable approach

  Method

  Valuation

  Relative Method

  $510,270

  Geo Method

  $680,747

• Alternative Use

  Use

  Valuation

  Residential

  $504,823

  Hospitality

  $462,415

  Educational

  $384,724

  Medical

  $397,955

  Retail

  $598,459

Location Insight

City

Lexington

County

Davidson

State

North Carolina

Latitude

35.8262

Longitude

-80.2564

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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