Back to Search

Downtown Wendell Mixed-Use Investment

242 W Academy Street, Wendell, NC 27591

View on Map

For Sale

$895,000

MULTI_FAMILY - Wendell, NC

Property size:

3,632 SF

Lot size:

0.45 Acres

Price / SF:

$246/SF

HighLights

Two fully renovated buildings with separate addresses and utilities.
Proven income‑generating property with $45k/year from residential rental and $25k/year from commercial rental.
Prime downtown location fronting three separate roads.
2000 sq ft historic home with successful VRBO/Airbnb history.
1632 sq ft office/retail building with 4 office spaces, conference area, kitchen, classroom, and storage.
Residential zoning with commercial conversion potential.

We can help!

Listing Contact

Amanda Rivera

For Sale

$895,000

MULTI_FAMILY - Wendell, NC

Property size:

3,632 SF

Lot size:

0.45 Acres

Price / SF:

$246/SF

Added:: Mar 6, 2026
Days on Market:: 101
Last Refresh:: Jun 15 at 5:06 pm

Property Features for 242 W Academy Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: NC
Standard status: Active
APN: 0070924
Size: 3,632 SF
Lot size: 0.45 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: Lopt 242 W Academy Street

Utilities

Utilities: Natural Gas Available
Heating system: Natural Gas, Electric (Heating)
Water source: Public

Building Details

Year built: 1915

We can help!

Listing Contact

Amanda Rivera

Listing agent Amanda Rivera License #200524

Listing office Five County Realty 3169 Wendell Blvd, Wendell, NC

Listing date Mar 6, 2026

MLS# 100558791

HighLights

Two fully renovated buildings with separate addresses and utilities.
Proven income‑generating property with $45k/year from residential rental and $25k/year from commercial rental.
Prime downtown location fronting three separate roads.
2000 sq ft historic home with successful VRBO/Airbnb history.
1632 sq ft office/retail building with 4 office spaces, conference area, kitchen, classroom, and storage.
Residential zoning with commercial conversion potential.

Overview

This unique mixed-use property is located in Downtown Wendell and fronts three separate roads: Wendell Blvd, Marshburn Rd, and Academy St. The property includes two buildings, each with separate addresses (242 W Academy and 3169 Wendell Blvd) and separate power and utilities. One building is a 2000 square foot fully renovated historic home, currently operating as "Cottage on the Boulevard" on VRBO. This residential building has a history of approximately 8 years of successful rent roll on VRBO and Airbnb, generating around $45,000 per year. While currently zoned residential, it can be converted to commercial use. The second building is a 1632 square foot office/retail single tenant building. This building has also been fully renovated and features 4 office/deck spaces, a conference table, a kitchen and eating area, a classroom that seats 20, and storage. It generates an additional $25,000 in rent per year. The lot size is 0.45 acres. The property is located in Wake County, North Carolina, with a zoning designation of NC.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$89.3k	$24.60
− Vacancy	−$15.0k	−$4.13
EGI	$74.3k	$20.47
− OpEx	−$18.6k	−$5.12
NOI	$55.8k	$15.35

3,632 SF · lease $24.60/SF/yr · vacancy 16.80% · expense 25.00%

Alternative Uses

Best Use

Office B

$796.5K

$696.9K – $929.2K (±1% cap)

NOI $55,753 @ 7.0% cap · market cap 6.23%

Second Best

Mixed Use

$716.0K

$626.5K – $835.4K (±1% cap)

NOI $50,122 @ 7.0% cap · market cap 5.60%

Theoretical Best

Specialty Retail

$1.04M

$907.4K – $1.21M (±1% cap)

NOI $72,592 @ 7.0% cap · market cap 8.11%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Single family properties

Suggested Use

Location Insight

Map
Local Demand

City: Wendell
County: Wake
State: North Carolina
Longitude: -78.374019
Latitude: 35.786316

Nearby Similar for Sale

$995,000

5,500 SF

Historic Mixed-Use Building in Wendell

Charming mixed-use building in Wendell's Historic District, ready for retail.

31 N Main Street, Wendell, NC 27591

View Details
$895,000

3,600 SF

Downtown Wendell Income-Producing Commercial Property

Two renovated buildings with income potential in downtown Wendell.

242 W Academy St, Wendell, NC 27591

View Details
$1,695,000

7,500 SF

New Construction Corporate Ground Lease

New construction corporate ground lease property for sale.

6020 Taylor Rd, Wendell, NC 27591

View Details
$289,990

1,641 SF

Modern Townhome with Garage

Three-bedroom townhome with modern design and one-car garage.

258 Sweetbay Tree Drive, Wendell, NC 27591

View Details
$6

21,200 SF

Warehouse with Office and Drive-Ins

21,200 SF warehouse with two drive-in doors, dock high access, and dedicated office space on an easy Triangle-access route.

601 Cook Street, Wendell, NC 27591

View Details
$499,000

1,520 SF

Historic Wendell Barbershop Opportunity

Iconic barbershop in revitalizing downtown Wendell with income potential.

18 North Main Street, Wendell, NC 27591

View Details
$15,000,000

138,653 SF

106,000 SF Industrial Building

Industrial building in the Triangle with highway access.

951 Wendell Blvd, Wendell, NC 27591

View Details
Contact for pricing
82,000 SF

Class A Flex Buildings

Two Class A flex buildings totaling 82,000 SF for lease.

606 & 608 Old Battle Bridge Rd, Wendell, NC 27591

View Details
$750,000

Wendell Boulevard Commercial Opportunity

Highly visible location suitable for retail, gas station, or office.

4901 Wendell Boulevard, Wendell, NC 27591

View Details
$1,100,000

Wendell Specialty Property For Sale

Specialty property available for purchase in Wendell, North Carolina.

716 Old Battle Bridge Road, Wendell, NC 27591

View Details

For sale
Mixed-use properties
NC
Wendell
27591
242 W Academy Street

What type of property is this?

Mixed-use property - Unique mixed-use property in downtown Wendell with income potential.

Where is this mixed-use property located?

The property is located at 242 W Academy Street Wendell, NC.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: Two fully renovated buildings with separate addresses and utilities.; Proven income‑generating property with $45k/year from residential rental and $25k/year from commercial rental.; Prime downtown location fronting three separate roads.

242 W Academy Street, Wendell, NC 27591

MULTI_FAMILY - Wendell, NC

Property Features for 242 W Academy Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Historic Mixed-Use Building in Wendell

Downtown Wendell Income-Producing Commercial Property

New Construction Corporate Ground Lease

Modern Townhome with Garage

Warehouse with Office and Drive-Ins

Historic Wendell Barbershop Opportunity

106,000 SF Industrial Building

Class A Flex Buildings

Wendell Boulevard Commercial Opportunity

Wendell Specialty Property For Sale

FAQs

Create New Password