Property summary
This exceptional downtown Reidsville retail property at 227 Scales Street presents a unique investment opportunity. The building offers approximately 18,000 square feet of adaptable space, less than a block from the Farmers Market, providing excellent visibility and foot traffic. The main area comprises a substantial 6,000-square-foot open space with impressive two-story ceilings, perfect for a variety of retail concepts. A hidden grand staircase leads to a mezzanine level and a large lower area, accessible via a separate rear entrance. This dual-access feature allows for potential expansion or the operation of two distinct businesses. The lower level offers significant additional commercial space. Adding to the property's appeal is a separate, finished 1,700-square-foot apartment currently under lease, generating additional income. The property's versatility makes it suitable for a wide range of uses, including warehouse space, a consignment or vendor store, a furniture showroom, or other retail ventures. The asking price is $374,900, with the seller open to leasing the property for $2,900 per month. This is a rare chance to acquire a substantial and well-located commercial property in a thriving downtown area.
Property profile
VerifiedCap rate & NOI
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Reidsville market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
CENTRAL BUSINESS REIDS · Reidsville, NCZoning
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Zoning designation
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