Property summary
This unique commercial property located at 106 E B Street in downtown Newton, NC, presents a compelling investment opportunity. Situated on a 0.07-acre lot, the building offers a blend of commercial and residential space. The main floor currently houses a tattoo business in the front and storage in the rear, but its adaptability allows for a wide range of business uses. Key features on this level include a kitchen, three bathrooms, a break room, several additional smaller rooms, and a workshop. The second floor is a spacious loft apartment with an open layout, a bedroom, and two bathrooms. This area could easily be converted back to commercial use if desired. A remarkable feature is a hydraulic winch located on the second floor, providing convenient access to the exterior alley for moving heavy equipment or furniture, eliminating the need for stairs. The building is heated by two 5-ton gas units (main floor unit requires repair) and features air conditioning on the main floor. The aluminum awning is in good condition, needing only minor cosmetic updates. Significant electrical and plumbing upgrades were completed between 2008 and 2010, according to the seller. This large building offers substantial potential for a savvy investor looking to capitalize on the growth of Newton's downtown area. The asking price is $479,000.
Property profile
VerifiedCap rate & NOI
Value estimations
Owner & transaction history
Zoning & alternative use
The intent of the B-3 district is to support the central business district as a hub for commercial, financial, professional, governmental, and cultural activities through appropriate development regulations.
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
B-3 · Newton, NCThe intent of the B-3 district is to support the central business district as a hub for commercial, financial, professional, governmental, and cultural activities through appropriate development regulations.
Zoning
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Zoning designation
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The district profile from the municipal source: what is on file for B-3 in Newton, NC.
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