Technical
Financial
Distress signals
Property profile

128 Carthage St Sanford, NC 27330

FOR SALE
Strip malls
Property ID
US53-2746016
17,816 SF 0.1 ac lot Built 1925
Entity Owned 4-yr Hold Free & Clear
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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

Location

128 Carthage St Sanford, NC 27330
Sanford metro Census 30101 SANFORD, NC MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$950k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.03M
Blend (final) Blend
$1.15M

Owner & transaction history

since 2022
Last sale
$920,000
2 recorded transactions
2022
$920,000
2020
$375,000

Zoning & alternative use

CENTRAL BUSINESS DISTRICT · Sanford, NC
Top alternative use upside
Retail stores $1.3M +8.8%

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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