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245 4 St Winston-Salem, NC 27101

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For Sale
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Historic Hines Shoe Co. Building, Multi-Tenant Opportunity

Property size:
13,975 SF

Property Features for 245 4 St

General Information

Property type
Individual retail properties
Square Feet
13,975 SF

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Listing Contact
Will Blackwell
Will Blackwell

Listing Agency: NAI Piedmont Triad Listing Agent: Will Blackwell

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents three contiguous, two-story buildings totaling 13,975 square feet located at 245, 249, and 259 West Fourth Street in the heart of downtown Winston-Salem, North Carolina. The property, formerly home to the iconic Hines Shoe Company, boasts a rich history and prime location. Currently, the street level spaces are occupied by three successful businesses: a restaurant, a neighborhood bar, and a convenience store. All leases are short-term and structured as NNN (Net, Net, Net) leases, offering significant upside potential for the new owner. A 2,475 square foot mezzanine in the convenience store building provides additional storage space, not included in the total square footage. The asking price is $1,800,000, translating to a price per square foot of $143.11. The property's unique layout and substantial square footage make it ideally suited for mixed-use development, with the potential for second-floor lofts, apartments, or condominiums. This is a rare chance to acquire a significant piece of Winston-Salem's history and capitalize on the vibrant growth of its downtown area. The property is currently 50% occupied. This is a multi-tenant property with a 0-year remaining lease term. Located in Forsyth County, NC, zip code 27101.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

Location Insight

  • Map
  • Local Demand
City
Winston-Salem
County
Forsyth
State
North Carolina
Longitude
-80.2465428
Latitude
36.0983272

FAQs

What type of property is this?
Individual retail property - Historic Hines Shoe Co. Building, Multi-Tenant Opportunity
Where is this individual retail property located?
The property is located at 245 4 St Winston-Salem, NC.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: $1,800,000 asking price.; 13,975 square feet total building area.; Historic Hines Shoe Company building in downtown Winston-Salem.
(336) 901-3452 Call to check price and availability
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