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    100 Water St Elizabeth City, NC 27909

    Sponsored
    For Lease
    $211 SF/Yr

    Historic building, ready for your vision

    Lot size:
    3,404 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This iconic, 3,404 sq ft building in downtown Elizabeth City presents a unique opportunity. Located in a Qualified Opportunity Zone, this single-tenant property sits on a 4,952 sq ft corner lot at the intersection of Main Street. Completely renovated in 2024, it boasts a new roof and a gutted interior, ready for a tenant's build-out. Detailed restaurant plans are available, featuring a bar with 18 seats, 60 interior seats, and 68 exterior seats, a full kitchen, and ADA-compliant restrooms. The asking rent is $5,000 per month triple net (NNN) for a long-term lease with landlord-funded build-out; however, lower rates are negotiable for less extensive renovations. The property's adaptive reuse is subject to approval by the NC State Historic Preservation Office; however, given the completed interior demolition, floor plan approval is anticipated to be straightforward, with limited exterior modifications. The building is also enrolled in the NC Dry Cleaning Solvent CleanUp Act Program. Built in 1930, this one-story building offers a blend of historic charm and modern adaptability, making it ideal for a variety of uses, including office, retail, or restaurant spaces. The property's zoning is CB, and its APN is 891308995209 in Pasquotank County. The property taxes are $0.50 per square foot. There is no elevator. The building's approximately 3,011 sq ft of interior space offers ample room for customization.

    Property Features for 100 Water St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,404 SF
    Total Rate
    59978.48

    Building Details

    Year Built/Renovated
    1930/2024
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    3,404 SF
    Rate per SF
    $211

    HighLights

    • Iconic downtown Elizabeth City building in a Qualified Opportunity Zone.
    • 3,404 SF building on a 4,952 SF corner lot; approximately 3,011 SF of interior space.
    • Recently renovated with new roof and gutted interior, ready for tenant build‑out.
    • Restaurant plans available: bar seating for 18, 128 total seats (60 interior, 68 exterior), full kitchen, ADA restrooms.
    • Asking rent: $5,000/month NNN (long‑term lease with landlord‑funded build‑out); lower rates possible for less extensive build‑outs.
    • Adaptive reuse project; interior demolition complete; exterior modifications limited; subject to NC State Historic Preservation Office approval.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.2185828
    Latitude
    36.2994113

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    FAQs

    What type of property is this?
    Restaurant - Historic building, ready for your vision
    Where is this restaurant located?
    The property is located at 100 Water St Elizabeth City, NC.
    What is the lease rate?
    The lease rate is $211 SF/Yr.
    What are key features of this property?
    This property features: Iconic downtown Elizabeth City building in a Qualified Opportunity Zone.; 3,404 SF building on a 4,952 SF corner lot; approximately 3,011 SF of interior space.; Recently renovated with new roof and gutted interior, ready for tenant build-out.
    Request Owner's contact information
    100 Water St Elizabeth City, NC 27909
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    Elizabeth City, NC 27909
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    100 Water St Elizabeth City, NC 27909
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