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Historic Office Storefront | Condo Potential 705 N Main St 7,440 SF Vacant Retail Building Online Auction Sale Winston-Salem, NC 27101
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Investment Highlights
- 705 N Main Street presents a two-story retail/ office storefront building with a full-floor storage basement and alley loading behind the building.
- All floors are separately metered, enabling conversion opportunities for condo potential, as well as traditional MFR, or continuing live-work.
- Boutiques, trendy eateries, and art galleries line Downtown Winston-Salem, the city’s walkable hub of innovation, art, and nightlife.
- Industry Hill Neighborhood of Downtown Winston-Salem, three blocks from the city’s new amphitheater (Spring 2027) in a commercial corridor.
- Highly visible and easily accessible off N Martin Luther King Jr Drive, seeing daily traffic counts of more than 19,000 VPD along the thoroughfare.
- Over 30,000 college students live in Winston-Salem, home to six universities, including Wake Forest University and Winston-Salem State University.
Executive Summary
Positioned in the heart of Winston-Salem’s revitalized Industry Hill district, 705 N Main Street presents a compelling residential redevelopment opportunity just three blocks from the city’s upcoming amphitheater, which is slated to open in Spring 2027 and offer 5,000 seats. This 7,440-square-foot, three-level structure was most recently used as storefront retail and offers a flexible layout ideal for conversion to condominiums or multi-unit residential.
Both office/retail floors and the full-floor storage basement are separately metered, supporting individual-unit development and ownership. The building spans approximately 2,480 square feet per level, with existing roof decks and lower-level parking and storage enhancing its appeal for urban living.
Located within walking distance of downtown amenities, breweries, and cultural venues, the property benefits from strong demographic trends, with over 169,600 residents within a 5-mile radius and average household incomes exceeding $75,000. The site’s proximity to major redevelopment projects and its placement within a vibrant, walkable district make it a strategic acquisition for developers seeking to capitalize on Winston-Salem’s growth.
Winston-Salem is the second-largest city in the Piedmont Triad, a metropolitan area between the Atlantic Plain and the Blue Ridge Mountains. It is bordered by Greensboro (30 miles) and High Point (20 miles). The Piedmont Triad region's infrastructure, access to skilled labor, proximity to other markets, and the state's business-friendly environment should help sustain economic growth in the market.
Whether reimagined as boutique condos, creative live-work spaces, or a hybrid residential-retail concept, 705 N Main offers the infrastructure and location to support long-term value.
Both office/retail floors and the full-floor storage basement are separately metered, supporting individual-unit development and ownership. The building spans approximately 2,480 square feet per level, with existing roof decks and lower-level parking and storage enhancing its appeal for urban living.
Located within walking distance of downtown amenities, breweries, and cultural venues, the property benefits from strong demographic trends, with over 169,600 residents within a 5-mile radius and average household incomes exceeding $75,000. The site’s proximity to major redevelopment projects and its placement within a vibrant, walkable district make it a strategic acquisition for developers seeking to capitalize on Winston-Salem’s growth.
Winston-Salem is the second-largest city in the Piedmont Triad, a metropolitan area between the Atlantic Plain and the Blue Ridge Mountains. It is bordered by Greensboro (30 miles) and High Point (20 miles). The Piedmont Triad region's infrastructure, access to skilled labor, proximity to other markets, and the state's business-friendly environment should help sustain economic growth in the market.
Whether reimagined as boutique condos, creative live-work spaces, or a hybrid residential-retail concept, 705 N Main offers the infrastructure and location to support long-term value.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,440 SF
Building Class
C
Year Built
1913
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
2.85
Lot Size
0.06 AC
Opportunity Zone
Yes
Parcel Number
6835-28-3714
Zoning
PB - Commercial, Office
Parking
5 Spaces (0.67 Spaces per 1,000 SF Leased)
Frontage
34’ on N Main St
Amenities
- Courtyard
- Security System
- Roof Terrace
- Air Conditioning
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
12,912
72,904
169,616
2020 Population
11,566
66,641
161,418
2030 Population
13,549
76,190
175,852
2025-2030 Projected Population Growth
4.9%
4.5%
3.7%
Daytime Employees
25,516
88,275
141,316
Total Businesses
2,073
6,845
13,605
Average Household Income
$65,804
$75,440
$75,019
Median Household Income
$45,992
$49,673
$53,761
Total Consumer Spending
$131.8M
$718.9M
$1.7B
Median Age
36.3
34.9
35.8
2025 Households
6,602
30,229
70,147
Percent College Degree or Above
20%
17%
17%
Average Home Value
$297,309
$350,915
$305,865
Nearby Major Retailers
Sale Advisors
Sale Advisors
Will Blackwell, Broker
His experience covers commercial real estate and development, complex real estate transactions and entitlement work, and strategic property acquisition, resulting in appreciation as well as increased wealth.
About the Auction Technology
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Auction Contact
Pace Zambito
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
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Matterport 3D Exterior
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Photos
Street View
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Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Historic Office Storefront | Condo Potential | 705 N Main St
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