1 State St, Lexington, NC 27292
For Sale
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This remarkable investment opportunity presents the chance to acquire the historic Grimes Brothers Mill building, situated in the heart of downtown Lexington, North Carolina. This four-story brick structure boasts significant historical character and presents a unique canvas for adaptive reuse. The building's prime location within Lexington's Social District offers unparalleled access to the vibrant downtown area, providing ample opportunities for a variety of commercial ventures. The substantial size of the building allows for creative development and the potential for multiple uses. While the exact square footage is currently unavailable, the building's four stories and substantial brick construction suggest a considerable amount of space. The property sits on a lot with no acreage listed, indicating a compact urban footprint ideal for redevelopment. This is a rare chance to own a piece of Lexington's heritage and contribute to its ongoing revitalization. The building's solid brick construction provides a strong foundation for future development, and its central location ensures high visibility and accessibility. Investors seeking a unique and historically significant property with high redevelopment potential should act quickly to explore this exceptional opportunity. The building's potential is limited only by the imagination, making it an ideal project for those with a vision for revitalizing historic structures and contributing to the growth of a thriving downtown area. This is a truly exceptional opportunity to own a piece of Lexington's rich history and shape its future.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
U · Lexington, NCLexington. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.