401 E Church Street, Edenton, NC 27932

$1,550,000
Property Type: Comm Sale or Lease Baths: 10 Square Footage: 17,804 Lot Size (sq. ft.): 47,044 Status: Closed
Current Price: $1,550,000 List Date: 12/11/2020 Last Modified: 8/01/2022

Overview

Description

Incredibly restored former Peanut Mill, now a 5 story office building 17,804 sq ft gem of a property w/7.8% cap rate. Fully leased to a gym on the bottom floor and an accounting firm leases floors 2-5. LL pays taxes and insurance of $27,429.65 tenants pay $163,698/yr in 2021 (NOI $136,268.35) and lease rate adjusts upward only with CPI every January. Incredible architecture, built in 1909 restored 2004-2005. 45 parking spaces, 2 handicapped, natural gas generator, handicapped accessible, working elevator. Tenants pay for all maintenance including HVAC. See more details below in Remarks., Property is for rent, Rail Available, est Taxes 19768.60, Neighborhood - E Church St Hwy 32 E of downtown, Current Lease Toning Mill & Sykes & Company, Annual Income is 163698.00

Listing Details MLS# 8101983

Contract Info

Marketing Start Date
2020-12-11
Sale/Lease
Sale
Listing Price
1750000
List Price/SqFt
98.29

Location Information

Street #
401
Pre Direction
E
Street Name
Church
Street Suffix
Street
County
Chowan
State/Province
NC
Zip Code
27932
City Limits
Yes

Remarks and Showing

Directions to Property
From Downtown Edenton take Church Street/Hwy 32 East and property is on the left immediately past the railroad tracks.
Sign on Property
No

BuildingExt Features

SqFt - Heated (Primary)
17804

Legal and Taxes

Tax Assessed Value
1711580
Deed Book
318
Deed Page
807
PID
780408895359
Plat Book
PC2
Special Assessments
No
Tax Year
2020
Year Built
1909
Zoning
CH

Status Change Info

Under Contract Date
2021-12-16
Sold Date
2021-12-16

More Information

Miscellaneous

Current Use
Retail,Other,Office

Current Service Providers

Electric Provider
Town of Edenton

Financial Info

Total Annual Expenses
27429.65

Property Features

Construction: Brick/Stone Flooring: Concrete; Wood; See Remarks Foundation: Raised Lot Water Features: None Cooling: Central Air Heating: Heat Pump Utilities: Electricity Connected; Natural Gas Connected; Water Available Sewer: Municipal Sewer Water Source: Community Water Lease Terms: 1 Year or More Lease Types: Net
IDX
Listing Office: Rich Company
Last Updated: August - 01 - 2022
Copyright 2026 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
Search powered by FBS Products