Property profile

106 Main St Norwood, NC 28128

OFF-MARKET
Commercial real estate
Property ID
US53-1179779
8,652 SF 0.22 ac lot Built 1901
Individually Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 7,000 square foot commercial property, situated on a 0.36-acre lot at 106 S Main Street in the heart of Norwood, NC, presents a unique investment opportunity. The building boasts three separate entrances, offering flexibility for various business configurations. Original wooden floors and a vintage freight elevator add character and charm, reflecting the building's rich history. Large showcase windows provide excellent street visibility, capitalizing on the high foot traffic generated by nearby popular establishments such as Reservoir Coffee and Lantern Sushi, as well as the proximity to Lake Tillery. This prime location is ideal for a diverse range of businesses, including retail spaces, office suites, residential apartments, or creative studios. The substantial square footage allows for the possibility of subdividing the space to accommodate multiple tenants or distinct business functions. The property's versatility and central location within Norwood's vibrant downtown area make it an exceptional investment prospect with significant potential for growth and return. This is a rare chance to acquire a piece of Norwood's history and shape its future. The property is offered at $550,000.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1901
Total area 8,652 SF
Lot 0.22 ac (9,583 SF)
Zoning code C-B
APN 656302587841
UPID US53-1179779

Cap rate & NOI

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

Location

106 Main St Norwood, NC 28128
Norwood metro Census 931101 ALBEMARLE, NC MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$155k

Owner & transaction history

since 2021
Last sale
$140,000
2 recorded transactions
2021
$140,000
2011
Price N/A

Zoning & alternative use

C-B · Norwood, NC
Zoning description

(G) Central business district (CB and CB-CD) ................................................... III-4 (H) Highway business district (HB and HB-CD) ................................................. III-5 (I) General busi…

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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