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Property profile & analytics
OFF-MARKET
Retail space

508 Main St Havelock, NC 28532-2204

1,190 SF 0.32 ac lot Built 1971
Entity Owned 6-yr Hold Absentee Owner Free & Clear
Property ID
US53-3555059
Property summary
AI-generated overview

This Havelock, NC commercial property, located at 508 E Main St (cross streets: E Main St and Vine St and Hollywood), offers a unique investment opportunity. The 2,070 square foot building sits on a 0.31-acre lot (13,693 sq ft) and was built in 1975, renovated in 1985. Currently configured as a car wash, it features an automatic car wash bay, a detail bay, an office area with a waiting lounge, and a half bathroom. The property is zoned 6705-TWP 6 - Commercial (APN: 6-067 -6000, Craven County). The existing car wash setup presents a strong foundation for a variety of commercial uses, including tire shops, car detailing businesses, mechanics, specialty retailers, training facilities, coffee shops, and other service-oriented businesses. The left bay, while containing a ride-thru car wash, is not currently accessible to tenants under the standard lease. The standard lease is a minimum three-year term with a 5.5% annual escalator, and lease extension options are available. Tenants are responsible for all maintenance, property taxes, and building insurance, excluding roof maintenance (the roof is approximately 5 years old). Liability insurance is also required. An alternative lease is available for a tenant utilizing the car wash bay, offering a $2475/month rate (5-year minimum lease) with a 5.5% annual escalator, and tenant responsibility for car wash bay maintenance and repair. The landlord is responsible only for roof maintenance.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1971
Total area 1,190 SF
Lot 0.32 ac (13,983 SF)
APN 6-067 -121
UPID US53-3555059
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
Current use
Occupant on record · Public records
  • DC Auto Sales Car Dealership
  • SUDZ Auto Detail Car Wash
  • ❤️Tony smoke shop &Drive-through 😍 (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Rowan Investments LLC · 6 yrs held
Rowan Investments LLC
since 2020
Last sale
$65,000
2 recorded transactions
2020
$65,000
2012
$155,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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