231 Scales StReidsville, NC 27320

Property Details for 231 Scales St

Year built

1927

Lot size

0.09 AC

Property size (Sq ft)

5,704 SF

Zone code

CENTRAL BUSINESS REIDS

Property type

Retail properties

Property subtype

Retail space

APN

8905-18-40-5341-00

APU

89051840534100

Description

This exceptional retail property, located at 231 S Scales Street in the heart of Reidsville, NC, presents a unique investment opportunity. Situated adjacent to the bustling Market Square, this three-level building offers over 5,000 square feet of adaptable space, perfect for a variety of commercial uses. The property boasts convenient east access and ground-level entry points from both the front and rear, ensuring easy accessibility for customers and staff. Currently occupied under a month-to-month lease, this provides immediate income potential or the flexibility to occupy the space yourself. The interior layout is highly functional, featuring multiple restrooms, ample storage rooms, dedicated office spaces, and expansive open areas that can be configured to suit diverse business needs. The building's prime location in the vibrant downtown area offers high visibility and foot traffic, making it an ideal space for a retail business seeking a strong presence in the community. The asking price is $199,900. This is a rare chance to acquire a substantial commercial property in a thriving downtown setting. Schedule a viewing today to explore the possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $919,920

  6.5%

  $849,157

  7%

  $788,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,824,544

  Geo Method

  $3,299,426

• Alternative Use

  Use

  Valuation

  Residential

  $716,295

  Hospitality

  $656,123

  Educational

  $545,886

  Medical

  $564,660

  Retail

  $849,157

Location Insight

City

Reidsville

County

Rockingham

State

North Carolina

Latitude

36.3592

Longitude

-79.6638

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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