1131 Burke St Winston Salem, NC 27101-2414

Property Details for 1131 Burke St

Year built

1915

Lot size

0.08 lot acres

Property size

6,512 SF

Zone code

PB

Property type

Bars

Property subtype

Pubs

APN

6825-75-9486.00

APU

682575948600

Description

This exceptional retail investment opportunity presents a 7,080 square foot, two-story freestanding building located at 1131 Burke Street in Winston-Salem, North Carolina's vibrant West End. The property boasts a brand-new, 10-year triple-net (NNN) lease with Dive Bar, a rapidly expanding, nationally trademarked credit tenant with multiple locations. The building features ample on-street parking, roll-up doors, and a patio facing Burke Street. The interior comprises a 3,500 square foot main level bar area and a 3,500 square foot basement with a roll-up door accessing First Street. Built in 1915, this property sits on a 0.08-acre lot and is zoned for Pedestrian Business use. Offered at $1,375,000, this investment provides a compelling 6% capitalization rate with a 2% annual rent increase built into the lease. The 100% occupancy ensures immediate cash flow, making this a strong addition to any portfolio. The property's location and tenant profile offer significant long-term growth potential. This is a rare opportunity to acquire a well-positioned, income-producing retail property in a thriving urban area.

Location Insight

City

Winston Salem

County

Forsyth

State

North Carolina

Longitude

-80.2591

Latitude

36.0939

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments