850 Chatham Rd Winston-Salem, NC 27101
- Warehouses
- 55,029 SF
- 1.02 lot acres
Current Use by Public Records
- Warehouses
Property Details for 850 Chatham Rd
- Year built
- 1952
- Construction
- BRICK
- Lot size
- 1.02 lot acres
- Property size
- 55,029 SF
- Zone code
- GB-S
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 6825-99-2418.00
- APU
- 682599241800
Description
This exceptional mixed-use property, located at 850 & 890 Chatham Road in Winston-Salem, North Carolina, presents a compelling redevelopment opportunity. Encompassing 57,190 square feet across two buildings on a one-acre lot, this property offers significant potential. Currently zoned for mixed-use development, the site boasts approved architectural plans for 46 loft apartments, along with space suitable for storage units or other creative uses. The property is part of the historic Chatham Mill Campus, with the successful Mill 800 (a 170-unit apartment complex completed in 2016) serving as a testament to the area's revitalization. This shovel-ready project benefits from a recently completed (2023) new roof and is situated in an Opportunity Zone, eligible for Historic Tax Credits and the NC Mill Rehab Tax Credit, as well as Brownfield Tax Incentives. Its prime location near downtown Winston-Salem, Wake Forest University, and the West End Historic District, coupled with convenient access to public transit, ensures strong potential for rental income and appreciation. The asking price is $1,950,000, translating to $34.10 per square foot. This is a rare chance to capitalize on a unique redevelopment project in a thriving North Carolina market. The property is registered on the Historic Registry, adding to its appeal and potential tax advantages.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,080,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $890,000
- 6.5%
- $940,000
- 7%
- $880,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $965,000
- Geo Method
- $830,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,010,000
- Retail
- $850,000
- Mixed-Use
- $1,030,000
- Hospitality
- $780,000
- Educational
- $1,055,000
- Residential Income
- $800,000
- Energy
- $890,000
- Income-Based Land
- $975,000
- Food Service
- $850,000
Location Insight
- Map
- Local Demand
- City
- Winston Salem
- County
- Forsyth
- State
- North Carolina
- Longitude
- -80.2552
- Latitude
- 36.1051
- CBSA code
- 49180
- CBSA name
- WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA
