247 Kings HwyEden, NC 27288

Property Details for 247 Kings Hwy

Year built

1970

Lot size

0.91 AC

Property size (Sq ft)

5,200 SF

Zone code

HWY BUS EDEN

Property type

Retail properties

Property subtype

Retail space

APN

7989-05-09-5113-00

APU

79890509511300

Description

This unique Eden, NC property presents a compelling investment opportunity, combining a thriving restaurant and a fully equipped medical office. The front building, approximately 3600 square feet, houses a recently updated restaurant boasting new wiring, plumbing, a tankless hot water heater, a new grease trap, a state-of-the-art fire suppression system, epoxied kitchen flooring, and brand new tables and chairs. A comprehensive list of recent upgrades is available upon request. The rear of the building comprises a 1600 square foot medical office space, complete with a welcoming waiting room, a reception area, six exam rooms, a private office, two half-baths, and a convenient storage room. Ample parking is available for both tenants and patrons. This property benefits from a 2021 appraisal valuing it at $580,000, conducted prior to the extensive renovations. The property is available for purchase or lease. Detailed leasing information is available upon inquiry. This dual-use property offers significant potential for income generation and long-term appreciation, making it an attractive investment in a desirable location. The combination of a successful restaurant and a well-equipped medical office provides a diversified income stream and a strong foundation for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $838,637

  6.5%

  $774,126

  7%

  $718,831

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,663,330

  Geo Method

  $3,007,892

• Alternative Use

  Use

  Valuation

  Residential

  $653,004

  Hospitality

  $598,148

  Educational

  $497,652

  Medical

  $514,767

  Retail

  $774,126

Location Insight

City

Eden

County

Rockingham

State

North Carolina

Latitude

36.4929

Longitude

-79.7466

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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