1297 Colony DrNew Bern, NC 28562

Property Details for 1297 Colony Dr

Year built

1997

Lot size

0.02 AC

Property size (Sq ft)

640 SF

Property type

Office properties

APN

8-240-C -001

APU

8240C001

Description

This 640-square-foot warehouse, located at 1297 Colony Drive in New Bern, North Carolina, presents a fantastic opportunity. Priced at $50,000, this industrial property offers a versatile space ideal for various commercial uses. Situated within the Colony Trade Center, this end unit boasts recent updates including a renovated bathroom and fresh paint throughout. The property features a reception/waiting area upon entry, followed by an adaptable room suitable for use as a conference room or storage. The building's roof was replaced in 2022 by the HOA, ensuring long-term structural integrity. The property is classified as both industrial and commercial, offering flexibility for a range of businesses. Its convenient location in New Bern, NC (zip code 28562), provides easy access to local amenities and transportation routes. This is a turnkey opportunity for an owner-occupier or investor seeking a well-maintained, updated warehouse space in a desirable location. The property is zoned for commercial use and sits on land, offering potential for future expansion or development. The absence of units indicates a single, self-contained space. This property is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $155,132

  6.5%

  $143,199

  7%

  $132,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $169,422

  Geo Method

  $146,906

• Alternative Use

  Use

  Valuation

  Residential

  $177,567

  Hospitality

  $162,650

  Educational

  $135,323

  Medical

  $139,977

  Retail

  $210,502

Location Insight

City

New Bern

County

Craven

State

North Carolina

Latitude

35.1263

Longitude

-77.0912

CBSA code

35100

CBSA name

NEW BERN, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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