1434 E Main Street $1,400,000
- 2.30 Acres
- Commercial
- MLS# 3653176
Listing provided courtesy of: NorthGroup Real Estate, Inc.
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Property Details
Smart investment: Class B- to C+ strip mall, 62,000 square feet, with 12 lane bowling alley, less than 2 miles from a brand new graduate level college campus (like, this week brandnew), within one mile of a brand new 88 unit multi-family build (like, not finished yet brand new), and the strip mall is on the "main street" of a downtown that is experiencing revitalization. The area has scored hundreds of jobs with manufacturers (not just start ups, but 100+ year old companies that pay 140% or more of current wages) and tens of millions of dollars of investment. The publically maintained street just got repaved. This is the time to strike. Pro forma: IRR 18% NPV $7,197,050.88 Caprate 6.5% NOI 124,000
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General Features
- Year Built 1960
- New Construction Y/N false
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Building Features
- Accessibility Features 2 or More Access Exits,Entry Slope less than 1 foot,Exterior Curb Cuts,Hall Width 36 Inches or More,Handicap Parking,Mobility Friendly Flooring,No Interior Steps,Vehicle Transfer Area,Other
- Cooling Other
- Roof See Remarks
- Heating Other
- Flooring Concrete, See Remarks
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Neighborhood
28001 (Albemarle) Demographics
42 Median Age
199 Population Density (per sq. mile)
28% College Educated
$41,947 Estimated Median Income
7,230 Estimated Total Home Owners
3,427 Estimated Total Renters
68% / 32% Estimated Owner / Renter Divide
2 Estimated Average Household Size
26,498 Total Population
Community data courtesy of LiveBy, Inc.
Market Last 30 Days In This Postal Code
$165,000
Median Sales Price
23
Homes Sold
17
New On Market
Average Days on Site
Properties for Sale
Calculations provided by Reliance Network
Property History
| Date | Price |
|---|---|
| -- | New Value: $1,400,000 |
| 9/17/2020 12:15:00 PM | New Value: $1,400,000 |
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**Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
**Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
Based on information submitted to the MLS GRID as of 1/20/2021 4:14:39 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. © 2021
Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.