• 910-346-8218 | Jacksonville NC and the greater Eastern North Carolina area

    910-346-8218 | Jacksonville NC and the greater Eastern North Carolina area
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Commercial Real Estate For Sale in Onslow County

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Price: $169,000
MLS Number: 100427114
Year Built: 1915
Acres: 0.15
Listing Date: Feb 12, 2024
Sale or Lease: Sale
Pages: 1
1
402 S Water Street, Elizabeth City
$169,000
MLS Number:
100427114
Built:
1915
Listing Date:
Feb 12, 2024
Unique opportunity to own and redevelop the Historic former Elizabeth City Milling Company Building near the waterfront of Downtown Elizabeth City, NC. Built in 1915, this two story building has a footprint of 4400 sq ft per floor and an additional 2000 sq ft of land in the front for parking and/or landscaping. Building is built over the Pasquotank River and currently consists of the four exterior walls, an internal wall, and floor joists. No floors or roof are currently on the building. Sellers have two concept pro forma's showing the first and second floor layouts of 8 apartment units consisting of 6 2 bed 2 bath units and 2 1 bed 1 bath units ranging from 571.45 - 1123.49 sq ft with 7100 sq ft of living space and the remainder being common area. The two pro forma's differ in the access being from the front or side. Estimated construction costs are $120,000 per unit and the 1br's should bring $1200/mo and the 2br's should bring $1400/mo for $10,800/mo or $129,600/yr making the year one return on investment projected at 11.4%.
Address: 402 S Water Street
City: Elizabeth City
State: NC
Zip: 27909
Area: N/A
Lot Size: 0.15 acres
Property Type: Commercial
Sub Type: Bed and Breakfast,Mixed Use,Retail
Sale or Lease: Sale
Heating: None
Cooling: None
Listing Office: Rich Company

Commercial Real Estate For Sale in Onslow County

Our real estate firm is based in Jacksonville, North Carolina and is celebrated for its excellent knowledge and professionalism in the local business market. With over 20 years of experience, Ray Properties has been the local’s choice choice for businesses looking for commercial real estate for sale in Onslow County or other parts of coastal North Carolina.

Thanks to our expertise of the regional real estate market, our company has earned an excellent reputation and achievement in the region.

Commercial Real Estate For Sale In Onslow County

Ray Properties’ Expertise

When it comes to finding commercial real estate for sale in coastal North Carolina, there are few real estate firms that can match the knowledge and expertise of Ray Properties. We have spent over two decades developing and refining our skills in commercial property, and this devotion has paid off. Ray Properties is now recognized as a reliable and successful real estate firm in the region. One of the factors that distinguishes Ray Properties from all other real estate firms in the area is our focus on picking out properties with immense potential. We are experts at identifying properties that meet specific criteria such as high growth potential, prime locations, strong local economies, and properties with attractive financing options. Our extensive knowledge of the coastal area and real estate market is a significant factor in our success.

Our company understands that coastal North Carolina is in constant transition as a result of many people moving to the area annually. As the population swells, so does the real estate industry. Consequently, the company has kept up with this demand as we have been able to meet the needs of businesses looking to move into the area to provied the goods and services that the growing population requires. Ray Properties’ entrepreneurial nature and tailor-made solutions have enabled our firm to create meaningful value while meeting the needs of our clients.

With the increasing exposure to environmental conservation, many businesses are looking to lease or buy commercial properties that have sustainable and eco-friendly features. Ray Properties is at the forefront of these eco-friendly projects, as we help businesses find green and sustainable properties to fit their needs. This is a crucial factor that has made the company an industry leader.

 

Successful Commercial Projects

Ray Properties aided in many accomplished real estate projects in coastal North Carolina. For example, Ray Properties helped in the development of a bustling shopping center located in Wilmington, which has several enterprises, including Food Lion, Ulta Beauty, Ross, and Kohl’s, to mention a few. Due to Ray Properties’ keen eye for potential, the mall was taken to even greater heights and is now an perfect hub for retail businesses.

Another successful project that Ray Properties helped build was the Logistics Park in Brunswick County. This prime location is ideal for factory companies, warehouses, and other logistics-oriented enterprises due to its vast area. Ray Properties made sure that the infrastructure is top-notch including accessible rail and shipping access.

Commercial Real Estate For Sale In Onslow County

You Can Trust Ray Properties

Ray Properties’ knowledge in handling commercial real estate for sale in Onslow County has facilitated countless enterprises to move and capitalize on the region’s thriving economy. The firm’s dedication to establishing positive relationships with businesses and stakeholders has contributed in cultivating trust and guaranteeing reliability in the property sector of the area.

With an in-depth grasp of the local real estate landscape, Ray Properties is still aiding companies in locating the ideal fit for company’s business property.

  • Contact Ray Properties

    3684-B Henderson Drive
    Jacksonville, NC 28546

    910-346-8218

    biz@rayproperties.com

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