122 Main StWilliamston, NC 27892

Property Details for 122 Main St

Lot size

0.08 AC

Zone code

CD

Property type

Office properties

Property subtype

Office buildings

APN

500132

APU

500132

Description

This exceptional redevelopment opportunity presents a unique chance to acquire three parcels totaling 20,000-22,000 square feet in downtown Williamston, North Carolina. The property comprises two buildings, constructed in 1917 and 1925, totaling 16,900 square feet and featuring 18-22 foot ceilings. Recently renovated in 2023 with a new insulated roof, these buildings are currently vacant, offering a blank canvas for a variety of uses. The permitted CD zoning allows for diverse development options, including hotel, multifamily, school, or mixed-use residential projects. Ample parking is available behind the buildings, with room for expansion. The asking price of $239,000 includes all three parcels, presenting a compelling investment opportunity in a growing area. The property's prime location offers proximity to various amenities, including Martin Community College (2.8 miles), Pitt Community College (40 miles), Nags Head Beach (92 miles), and numerous hotels, restaurants, and medical centers. The seller is motivated and will consider selling the buildings individually. This is a rare chance to shape the future of downtown Williamston and create a thriving destination for the surrounding counties. The property is classified as Class C, with a distressed sale condition.

• CAP approach

  CAP return

  Valuation

  6%

  $646,586

  6.5%

  $596,848

  7%

  $554,216

• Comparable approach

  Method

  Valuation

  Relative Method

  $391,125

  Geo Method

  $799,947

• Alternative Use

  Use

  Valuation

  Residential

  $740,092

  Hospitality

  $677,920

  Educational

  $564,022

  Medical

  $583,419

  Retail

  $877,367

Location Insight

City

Williamston

County

Martin

State

North Carolina

Latitude

35.8549

Longitude

-77.0559

Property Tax & Assessments

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