116 Young StHenderson, NC 27536

Property Details for 116 Young St

Year built

1914

Lot size

0.12 AC

Property size (Sq ft)

8,794 SF

Property type

Office properties

APN

0004 02002

APU

402002

Description

This exceptional 8,794 square foot commercial property, located at 116 Young Street Unit 116 in Henderson, NC's historic downtown district, presents a unique investment opportunity. Situated on a 0.12-acre lot, this building boasts high foot traffic and excellent visibility, offering unparalleled exposure to the bustling downtown area. Its prime location places it within easy walking distance of the courthouse, numerous restaurants, thriving businesses, and municipal offices. The building itself features over 25 individual offices and a large conference room, providing ample space for a variety of uses. The flexible layout allows for creative adaptation to suit diverse business needs, from modern office spaces to trendy commercial ventures, or even a conversion into stylish multi-family units. The multiple floors offer significant potential for customization and renovation to reflect a modern aesthetic while preserving the building's historic charm. Henderson's strategic location, approximately 40 minutes from Durham and less than an hour from Raleigh, enhances its appeal as a desirable location for businesses and residents alike. This is a rare chance to acquire a substantial property in a thriving downtown area with significant upside potential. Priced at $250,000, this property represents an exceptional value in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,491,106

  6.5%

  $1,376,406

  7%

  $1,278,091

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,018,575

  Geo Method

  $2,018,575

• Alternative Use

  Use

  Valuation

  Residential

  $1,706,743

  Hospitality

  $1,563,368

  Educational

  $1,300,704

  Medical

  $1,345,437

  Retail

  $2,023,316

Location Insight

City

Henderson

County

Vance

State

North Carolina

Latitude

36.3283

Longitude

-78.4021

CBSA code

25780

CBSA name

HENDERSON, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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