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    FOR SALE
    Strip malls

    128 Carthage St, Sanford, NC 27330

    17,816 SF 0.1 ac lot Built 1925
    Entity Owned 4-yr Hold Free & Clear
    Property ID
    US53-2746016
    Property summary
    AI-generated overview

    This stunning, 17,816 square foot mixed-use building, located in the heart of downtown Sanford, North Carolina, presents a unique investment opportunity. Originally constructed in 1924 and extensively renovated in 2021, this former Masonic Temple boasts a rich history and captivating architectural details. The building, listed on the National Register of Historic Places since 1984, offers significant potential for historic tax credits. The ground floor and basement currently house retail spaces, while the upper two floors are adaptable for office or apartment use. Notable features include ornate stairwells, an elevated main floor stage, a secret rooftop entrance, and an original coal shoot in the basement. The property's prime location at the intersection of Carthage Street and N. Steele Street provides excellent visibility and accessibility. With a new roof installed in 2021, this building offers a blend of historic charm and modern functionality. The asking price is $1,200,000. The basement space presents an ideal opportunity for a speakeasy-style bar, complementing the building's Prohibition-era history. This is a rare chance to own a piece of Sanford's vibrant past while capitalizing on its promising future.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 1925
    Total area 17,816 SF
    Lot 0.1 ac (4,552 SF)
    Zoning code CENTRAL BUSINESS DISTRICT
    APN 9643-60-6063-00
    UPID US53-2746016
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $950k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.03M
    Blend (final) Blend
    $995k
    Owner & transaction history
    128 Carthage Street LLC · 4 yrs held
    128 Carthage Street LLC
    since 2022
    Last sale
    $920,000
    2 recorded transactions
    2022
    $920,000
    2020
    $375,000
    Zoning & alternative use
    CENTRAL BUSINESS DISTRICT · Sanford, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $1.3M +8.8%
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