Downtown Lenoir Commercial
101 Willow Street NW Lenoir, NC 28645
101 Willow Street NW, Lenoir, NC, 28645
$349,900
For Sale
$349,900
Professionally renovated office building in the heart of downtown Lenoir.
Property Size2,674 SF
Price / SF$130.85
Days on Market226
Property Features for 101 Willow Street NW
General Information
- Standard status
- Active
- Size
- 2,674 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1949
Listing agency
WALKER REAL ESTATE SERVICES LLC
(828) 851-1541
Listed by
RHONDA WALKER · License #202018
Source
Corcoran
Added: Dec 8, 2025 Updated: Jul 6 at 10:05AM Checked: Jul 22 at 9:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WALKER REAL ESTATE SERVICES LLC
Investment Insights
Based on property information with market context.
This 2674+/- square foot commercial building is located in downtown Lenoir. The property has been professionally renovated inside and out and is suitable for professional services such as attorney offices, medical practices, accounting firms, consulting operations, and similar business uses. Recent updates include new HVAC, roof, LVP flooring, interior and exterior paint, upgraded lighting, and a refreshed layout. The interior features a welcoming entry and waiting area, two conference rooms, multiple administrative areas supporting at least 4 private offices, a kitchenette, and 2 bathrooms. It also includes storage rooms and closets, plus a separate storage facility out back. Other features include audio and video setup and an alarm security system. The property offers visibility, easy access and curb appeal. It is within walking distance to downtown businesses, restaurants, and municipal buildings.
Key Highlights
- Prime commercial location in the heart of downtown Lenoir.
- Professionally renovated, turnkey 2700+\/- sq ft building.
- Recent updates include new HVAC, roof, LVP flooring, and interior/exterior paint.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.6k | $20.04 |
| − Vacancy | −$11.8k | −$4.41 |
| EGI | $41.8k | $15.63 |
| − OpEx | −$10.4k | −$3.91 |
| NOI | $31.3k | $11.72 |
2,674 SF · lease $20.04/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$447.8K
$391.9K – $522.5K
NOI $31,348 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.2K
$534.0K – $711.9K
NOI $42,716 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Carpenter, Bost & Cartee
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Professionally renovated office building in the heart of downtown Lenoir.
Where is this office building located?
The property is located at 101 Willow Street NW Lenoir, NC.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Prime commercial location in the heart of downtown Lenoir.; Professionally renovated, turnkey 2700+\/- sq ft building.; Recent updates include new HVAC, roof, LVP flooring, and interior/exterior paint.
