106 E King Street , Edenton, NC 27932
Edenton, NC 27932
Description
Income producing historic office property built in 1898 in Downtown Edenton for sale with a 10.84% cap rate. Tenant is a CPA firm whose current lease pays $2,622 per month on a triple net lease where Tenant covers taxes, insurance, utilities, and repairs other than structural or major mechanical repairs. Building was completely renovated in 2007 with all new electric/wiring/panel, new HVAC, new windows except original storefront windows, and original oak floors were redone. Metal roof is in sound condition. Tenant does not intend on renewing lease after October 2025 so we are advertising it for lease along with the sale in hopes of finding a new Tenant with equal or better lease terms. Tenant would terminate lease earlier if Buyer wished to owner/occupy. Located across from the Hornthal Law Firm and the soon to be renovated Hinton Hotel, just two blocks from the Waterfront and frequently photographed historic cannons on the Waterfront. Property could also be converted to a residence with the addition of a kitchen, shower/bath, and laundry.
Details
| MLS# | 100456525 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending with Showings |
| Year | 1898 |
| Days On Site | 89 |
| Listing Provided By | Rich Company | Alex Rich |
Features
| N/A | 1,080 |
|---|---|
| Zoning | CD |
| Acreage | 0.03 |
Market Activity 27932
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Learn More About This Property
| State | NC |
|---|---|
| County | Chowan |
| City | Edenton |
| Zip Code | 27932 |
| Area | Chowan |
| Community Name | N/A |
| Listing VS Median (in N/A) | |
Price: $290,000 low | high Med: $250,000 SqFt: 1,080 low | high Med: 1,661 $ / SqFt: $269 low | high Med: $151 On Site: 89 low | high Med: 40.000000 | |