17 Main St, Wendell, NC 27591-8076

This exceptional value-add opportunity presents a two-tenant, 9,500 square foot retail building located at 17-21 N Main Street in the heart of rapidly growing Wendell, North Carolina. The property, built in 1911 and extensively renovated in 2023, boasts a Class B designation and features a mix of bar and storefront spaces. Currently operating at 100% occupancy with a new lease signed, the building offers a strong, stable income stream. Recent improvements include a complete sprinkler system installation (2023), the addition of new bathrooms (2023), new HVAC units (2020), and roof sealing (2020). The property is zoned DMX and sits on a single, two-story building. The current lease is a NNN lease with a remaining term of approximately 0.9 years, expiring October 31, 2025, and commenced January 1, 2019. The current Net Operating Income (NOI) is $50,000, while the pro-forma NOI is projected at $142,500, reflecting a significant potential for increased profitability. The asking price is $1,750,000, representing a current cap rate of 2.86% and a pro-forma cap rate of 8.14%. The property's prime location in downtown Wendell, adjacent to the substantial Wendell Falls housing development, ensures strong future growth potential. The property's APN is 1783697993. This is a rare opportunity to acquire a well-maintained, high-potential commercial property in a thriving North Carolina market.