11% cap Office 106 E King Street Edenton NC
$ 261,818.00
- Property ID: 2611
- Date added: 08/20/21
- Post Updated: 2022-10-31 18:01:41
- Bathrooms: 2
- Floors: 1
- Status: Sold
- Area: 1080 sq ft
- Lot size: 1144 sq ft
- Year built: 1898
- Style: Brick
Description
Income producing historic office property in Downtown Edenton for sale with an 11% cap rate. Tenant is a CPA firm whose current lease runs through October 31 2025 with a renewal option of 36 months. Tenant pays $28,800 per year in rent (adjusts with the CPI every August) plus utilities taxes, insurance, and repairs except structural/major mechanical repairs. Base rent is $26.66/sq ft plus the NNN expenses. Building was completely renovated in 2007 with all new electric/wiring/panel, new HVAC, new windows except original storefront windows, original oak floors redone, metal roof is sound. Downtown Edenton is a very desirable place to work, live, eat, and visit with essentially all of the buildings and homes being historic but very well renovated, updated, and maintained.
View on map / Neighborhood
Features
- Roof is in excellent condition
- Zoning allows for majority of commercial uses
- City SEWER!
- Not in a flood zone
- 12'-14' ceilings
- Handicapped access
- Freestanding Building
- Near Downtown & Waterfront
- Newly renovated
Documents
- Survey
- Tax Card
- Deed
- MLS Data
- Property Flyer: 106-East-King-Street-Edenton-lease.pdf
Agent
This style property is located in Edenton is currently and has been listed on The Rich Company. This property is listed at $ 261,818.00. It has 2 baths bathrooms, and is 1080 sq ft. The property was built in 1898 year.
