Log In/Sign Up
Your email has been sent.
Value-Add Downtown Mixed-Use Retail/Resi 2 Retail Properties Online Auction Sale Winston-Salem, NC
INVESTMENT HIGHLIGHTS
- Value-add mixed-use commercial and residential opportunity with a prime location in Downtown Winston-Salem directly across from Merschel Park.
- Easily accessible, within walking distance of several bus stops and just a short drive from major Highways 52 and 421.
- Vacant upper-level units provide a robust upside for conversion into lofts, apartments, or condos, capitalizing on the CBD’s strong housing demand.
- Highly visible property with strong foot traffic and daily exposure to more than 5,800 vehicles.
- In-place income from ground-floor retail tenants on short-term leases, allowing immediate occupancy or repositioning by a new owner.
- Performing submarket, with retail vacancies of just 4.2%, and a five-year average annual rent growth of 4.2% in both retail and multifamily units.
EXECUTIVE SUMMARY
Capture a unique value-add opportunity at the heart of Downtown Winston-Salem, North Carolina, with these contiguous mixed-use buildings at 245-259 W Fourth Street.
These neighboring two-story properties provide a total of 13,975 square feet, comprising ground-floor retail space with vacant upper floors that are well-suited for lofts, apartments, or condos. There is also a 2,475-square-foot mezzanine that is used for storage and is not included in the square footage. The ground-floor units are occupied by short-term retail tenants, offering an immediate upside to renegotiate, occupy, or re-tenant the property.
Placed on adjoining lots totaling 0.14 acres directly across the street from Merschel Park, the buildings enjoy a prime downtown location with great foot traffic and visibility to over 5,800 daily vehicles. Additional customer traffic flows to the area thanks to a number of walkable restaurants and boutique shops. The site has excellent regional connectivity, sitting within minutes of Highway 52 and Interstate 40. It is also 23.7 miles from the Piedmont Triad International Airport. The location is within a designated Opportunity Zone for Winston-Salem, providing a long-term redevelopment or repositioning advantage to a new owner.
Situated in Winston-Salem’s business district, 245-259 W Fourth Street benefits from central placement within a performing retail and multifamily submarket. Vacancies in the area are at just 4.2% for retail, and 9.5% for multifamily units, driving average annual rent growth of 4.1% in both segments during the past five years. There is also no competing inventory of either type currently under construction in the area, limiting any supply-side competition for a new owner’s leasing efforts. Commercial activity in the area is supported by a 3-mile population of more than 73,000 with an average household income of more than $68,000, attracting new businesses with annual spending that exceeds $733 million.
Make a mark on Winston-Salem’s vibrant downtown core with this versatile acquisition offering in-place income and significant growth opportunities at 245-259 W Fourth Street.
Property tours are by appointment only. Please contact the listing broker to schedule.
These neighboring two-story properties provide a total of 13,975 square feet, comprising ground-floor retail space with vacant upper floors that are well-suited for lofts, apartments, or condos. There is also a 2,475-square-foot mezzanine that is used for storage and is not included in the square footage. The ground-floor units are occupied by short-term retail tenants, offering an immediate upside to renegotiate, occupy, or re-tenant the property.
Placed on adjoining lots totaling 0.14 acres directly across the street from Merschel Park, the buildings enjoy a prime downtown location with great foot traffic and visibility to over 5,800 daily vehicles. Additional customer traffic flows to the area thanks to a number of walkable restaurants and boutique shops. The site has excellent regional connectivity, sitting within minutes of Highway 52 and Interstate 40. It is also 23.7 miles from the Piedmont Triad International Airport. The location is within a designated Opportunity Zone for Winston-Salem, providing a long-term redevelopment or repositioning advantage to a new owner.
Situated in Winston-Salem’s business district, 245-259 W Fourth Street benefits from central placement within a performing retail and multifamily submarket. Vacancies in the area are at just 4.2% for retail, and 9.5% for multifamily units, driving average annual rent growth of 4.1% in both segments during the past five years. There is also no competing inventory of either type currently under construction in the area, limiting any supply-side competition for a new owner’s leasing efforts. Commercial activity in the area is supported by a 3-mile population of more than 73,000 with an average household income of more than $68,000, attracting new businesses with annual spending that exceeds $733 million.
Make a mark on Winston-Salem’s vibrant downtown core with this versatile acquisition offering in-place income and significant growth opportunities at 245-259 W Fourth Street.
Property tours are by appointment only. Please contact the listing broker to schedule.
DATA ROOM Click Here to Access
- Purchase Agreement
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
| Sale Condition | Auction Sale | Number of Properties | 2 |
| Type of Ownership | Fee Simple | Total Building Size | 10,120 SF |
| Sale Type | Investment | Total Land Area | 0.14 AC |
| Status | Active |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 10,120 SF |
| Total Land Area | 0.14 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT |
|---|---|---|---|
| 245 W Fourth St, Winston-Salem, NC 27101 | Retail | 6,600 SF | 1914 |
| 259 W Fourth St, Winston-Salem, NC 27101 | Retail | 3,520 SF | 1889 |
1 1
SALE ADVISOR
SALE ADVISOR
Will Blackwell, Broker
Will is a respected, well-connected, convincing communicator and veteran real estate professional with a 27-year span of accomplishments. 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
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
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.
1 of 6
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
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
1 of 1
Presented by
Value-Add Downtown Mixed-Use Retail/Resi
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
Value-Add Downtown Mixed-Use Retail/Resi
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.