Mixed-Use Building with
For Sale
$1,225,000
127 Barnes Street W, Wilson, NC 27893
A restored downtown property combines ground-floor creative space with private living quarters above.
Property Size4,050 SF
Days on Market11
Property Features for 127 Barnes Street W
General Information
Standard status
Active
Size
4,050 SF
Zoning
CMX
Additional Details
Mixed-Use Components
retail, residential
Amenities
No
Yes
0.06
90X25
4050.0
Building Details
Building Size
4,050 SF
Year Built
1924
Buildings
1
Construction
brick
Listing Agency:
(803) 598-9250
Listed By:
Brittany Hurt Duncan
Source:
Hurtrealtyllc
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 10:01AM
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 Brittany Hurt Duncan
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Investment Insights
Based on property information with market context.
This 4,050-square-foot mixed-use property pairs an open studio and gallery on the ground floor with residential quarters on the upper level. Built in 1924, the brick building has been restored and is offered with an adjoining vacant lot, providing a separate land component alongside the existing improvements.
The property is on Barnes Street in downtown Wilson, within walking distance of Whirligig Park, Warbirds Stadium, restaurants, coffee shops, and downtown events. Its combination of commercial space, residential use, and additional land is suited to a range of live-work and creative concepts.
The property is on Barnes Street in downtown Wilson, within walking distance of Whirligig Park, Warbirds Stadium, restaurants, coffee shops, and downtown events. Its combination of commercial space, residential use, and additional land is suited to a range of live-work and creative concepts.
Key Highlights
- 4,050‑square‑foot building constructed in 1924
- Ground‑floor open studio and gallery space with upper‑level residential quarters
- Sale includes an adjoining vacant lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,030
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,600
$1.0M
Cap Rate 7%
$729,000
$729.0K
Cap Rate 9%
$567,000
$567.0K
Market Conditions
NOI Build-Up for 4,050 SF
Gross rent
$85.1K $21.00/SF
− Vacancy
−$17.0K −$4.20/SF
EGI
$68.0K $16.80/SF
− OpEx
−$17.0K −$4.20/SF
NOI
$51.0K $12.60/SF
Area
Wilson County, NC
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,600
Cap Rate 7%
$729,000
Cap Rate 9%
$567,000
Alternative Uses
Best Use
Office B
$729.0K
$637.9K – $850.5K
NOI $51,030 @ 7.0% cap · market cap 4.17%
Second Best
Mixed Use
$572.8K
$501.2K – $668.3K
NOI $40,095 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$972.1K
$850.6K – $1.13M
NOI $68,044 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
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Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A restored downtown property combines ground-floor creative space with private living quarters above.
Where is this mixed-use property located?
The property is located at 127 Barnes Street W Wilson, NC.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 4,050‑square‑foot building constructed in 1924; Ground‑floor open studio and gallery space with upper‑level residential quarters; Sale includes an adjoining vacant lot
