$280,000
$290,000
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106 E King ST Edenton, NC 27932
1,080 SqFt
Key Details
Sold Price $280,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 1,080 sqft
Price per Sqft $259
MLS Listing ID 100456525
Sold Date 10/31/24
Originating Board North Carolina Regional MLS
Year Built 1898
Annual Tax Amount $1,160
Lot Size 1,144 Sqft
Acres 0.03
Lot Dimensions TBD
Property 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.
Location
State NC
County Chowan
Zoning CD
Direction If you park on Broad Street in Edenton near the intersection of King Street building will be the 4th on the right from Broad Street.
Interior
Heating Electric, Heat Pump
Cooling Central Air
Flooring Wood
Exterior
Garage Public, On Street
Utilities Available City Water, Natural Gas Available
Waterfront Description None
Roof Type Metal
Building
Foundation Slab
Sewer Municipal Sewer
New Construction No
Others
Tax ID 7804-07-68-7314
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition None
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