401 E Church Street, Edenton, NC 27932 (MLS# 8101983)
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
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
More Information MLS# 8101983
Contract Info
Status: Closed
Marketing Start Date: 2020-12-11
Sale/Lease: Sale
Listing Price: 1750000
Current Price: $1,550,000
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
Geo Lat: 36.059578
Geo Lon: -76.602473
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 Price: $1,550,000
Sold Date: 2021-12-16
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
Listing Office: Rich Company
Last Updated: August - 01 - 2022
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