Downtown Mixed-Use
15 W 3rd, Wendell, NC 27591
For Sale
$469,000
Pending
Corner-lot building with multiple spaces, three entrances, and DMX Downtown Mixed Use zoning.
Property Size2,560 SF
Days on Market53
Property Features for 15 W 3rd
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Corner Location
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Central Air Cooling
Central Heating
City Lot
Combination Flooring
Corner
Rectangular Lot
Building Details
Year Built
Tenancy
Listing Agency:
WHITETAIL PROPERTIES, LLC
(704) 473-3833
Listed By:
TRACIE MARIE HICKS · License NC #304721
(704) 312-6187
Source:
Corcoran
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 8 at 5:03AM
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 WHITETAIL PROPERTIES, LLC
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Investment Insights
Based on property information with market context.
Built in 1912, this approximately 2,560-square-foot mixed-use building occupies a corner location at 15 W 3rd Street in downtown Wendell. The interior is arranged into multiple spaces and includes two entrances along the front facade plus a separate side entrance. Three existing tenants occupy the property, which is being sold as-is and requires renovation or repositioning.
The property is zoned DMX, Downtown Mixed Use, with potential commercial and mixed-use applications subject to Town of Wendell approval. Its setting beside Wendell Square places the building near public parking, local shops, restaurants, and community events. The downtown location and multi-entrance configuration provide a flexible framework for continued occupancy or future redevelopment, subject to verification of zoning, permitted uses, condition, parking, and lease information.
The property is zoned DMX, Downtown Mixed Use, with potential commercial and mixed-use applications subject to Town of Wendell approval. Its setting beside Wendell Square places the building near public parking, local shops, restaurants, and community events. The downtown location and multi-entrance configuration provide a flexible framework for continued occupancy or future redevelopment, subject to verification of zoning, permitted uses, condition, parking, and lease information.
Key Highlights
- Approximately 2,560 square feet of mixed‑use building area
- Corner location beside Wendell Square at 15 W 3rd Street
- DMX, Downtown Mixed Use zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,760
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,200
$655.2K
Cap Rate 7%
$468,000
$468.0K
Cap Rate 9%
$364,000
$364.0K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$59.9K $23.40/SF
− Vacancy
−$7.5K −$2.93/SF
EGI
$52.4K $20.47/SF
− OpEx
−$19.7K −$7.68/SF
NOI
$32.8K $12.80/SF
Area
Wake County, NC
Vacancy
12.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,200
Cap Rate 7%
$468,000
Cap Rate 9%
$364,000
Alternative Uses
Best Use
Retail
$648.9K
$567.8K – $757.1K
NOI $45,423 @ 7.0% cap · market cap 9.69%
Second Best
Mixed Use
$468.0K
$409.5K – $546.0K
NOI $32,760 @ 7.0% cap · market cap 6.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 27591, NC
24,677
Population
10,109
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
88%
High-School Grad
66.6 sq mi
ZIP Area
371
Density / Sq Mi
$76,710
Median Household Income
$42,758
Median Earnings
$1,280
Median Rent
$288,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Wake County, NC
Properties on Market for Mixed-use properties in Wake County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot building with multiple spaces, three entrances, and DMX Downtown Mixed Use zoning.
Where is this mixed-use property located?
The property is located at 15 W 3rd Wendell, NC.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Approximately 2,560 square feet of mixed‑use building area; Corner location beside Wendell Square at 15 W 3rd Street; DMX, Downtown Mixed Use zoning
