3171 Wendell Blvd Wendell, NC 27591
- Retail properties
- 1,632 SF
- 0.49 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3171 Wendell Blvd
- Year built
- 1930
- Lot size
- 0.49 lot acres
- Property size
- 1,632 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional mixed-use property in historic downtown Wendell, NC offers a unique investment opportunity. The 1,632 sq ft building, formerly Todd's Train Station, boasts a prime location on three major roads (Wendell Blvd, Marshburn Rd, and Academy St), ensuring high visibility and accessibility. Fully renovated in 2016, the space features four office/desk areas, a conference table, kitchen and eating area, a classroom seating 20, and ample storage. Currently operating as a 100% occupied, single-tenant office generating $24,000 in annual NOI, this property presents a strong cash flow with a 7.27% cap rate. The building is zoned for single-unit retail and office use, offering flexibility for owner-occupancy or continued leasing. The 0.49-acre lot provides ample parking. Note that this property must be purchased with a separate, adjacent 2,000 sq ft residential building (MLS listing 10059250), currently generating approximately $45,000 annually through VRBO/Airbnb rentals. While the buildings are separately addressed and metered, they are situated close together and could be combined to create a larger 4,000 sq ft building. The property benefits from a tax reduction due to its age and is within walking distance of downtown Wendell. The asking price is $330,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wendell
- County
- Wake
- State
- North Carolina
- Longitude
- -78.374
- Latitude
- 35.7862
