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Property profile

106 B St Newton, NC 28658

OFF-MARKET
Commercial real estate
Property ID
US53-0627231
View Sample
6,000 SF 0.07 ac lot Built 1946
Individually Owned 15-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

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

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1946
Construction WOOD
Total area 6,000 SF
Lot 0.07 ac (3,049 SF)
Zoning code B-3
APN 3740-13-03-1198
UPID US53-0627231

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$225k

Owner & transaction history

since 2011
1 recorded transaction
2011
$80,000

Zoning & alternative use

B-3 · Newton, NC
Zoning description

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.

General category CIVIC_INSTITUTIONAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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