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The Coley Group

[email protected] +1(919) 868-3570

Listed by NorthGroup Real Estate, Inc.

$ 895,000

Est. payment -/mo

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Price Dropped by $55K

242 W Academy Street Wendell, NC 27591

3 Beds

3 Baths

2,031 SqFt

UPDATED:

10/11/2024 07:12 AM

Key Details

Property Type Single Family Home, Commercial

Sub Type Ranch

Listing Status Active

Purchase Type For Sale

Square Footage 2,031 sqft

Price per Sqft $440

Subdivision Not In A Subdivision

MLS Listing ID 10030631

Style House,Mixed Use,Retail,Site Built

Bedrooms 3

Full Baths 2

Half Baths 1

HOA Y/N No

Abv Grd Liv Area 2,031

Originating Board Triangle MLS

Year Built 1915

Annual Tax Amount $2,350

Lot Size 0.490 Acres

Acres 0.49

Property Description

Own a unique part of Downtown Wendell. This property fronts 3 separate roads: Wendell Blvd, Marshburn Rd, and Academy St. It has a separate address for each building (242 W Academy and 3169 Wendell Blvd) and each has separate power and utilities. The first building is a 2000 sq ft fully renovated historic home, currently offered on VRBO as ''Cottage on the Boulevard''. With 5 years of successful rent roll on VRBO and Airbnb, this property brings in around 45k a year. It is currently zoned residential, but can be converted to commercial. The second building is zoned as an office/retail single tenant building that is 1632 sf. This building has also been fully renovated with 4 office/deck spaces, conference table, kitchen and eating area, a classroom that seats 20, and storage . The parking lot is behind this brick building so it does not restrict the parking of the rental house or guests which use the driveway on Academy St. These two buildings are only separated by 6-8 feet so they can not be divided or sold separately. They could easily be combined to create a 4000 sf building, or used as is. The brick building currently generates rental revenue, but could be used or rented out as a full time retail or office building. The property is not in the historic district, but benefits from a tax reduction from the age of the property. It is within walking distance of downtown Wendell and has high visibility due to its location on three of the main road interchanges. Showings will need to be arranged around guests as this is a very popular and successful VRBO rental. Own a unique part of Downtown Wendell. This property fronts 3 separate roads: Wendell Blvd, Marshburn Rd, and Academy St. It has a separate address for each building (242 W Academy and 3169 Wendell Blvd) and each has separate power and utilities. The first building is a 2000 sq ft fully renovated historic home, currently offered on VRBO as ''Cottage on the Boulevard''. With 5 years of successful rent roll on VRBO and Airbnb, this property brings in around 45k a year. It is currently zoned residential, but can be converted to commercial. The second building is zoned as an office/retail single tenant building that is 1632 sf. This building has also been fully renovated with 4 office/deck spaces, conference table, kitchen and eating area, a classroom that seats 20, and storage . The parking lot is behind this brick building so it does not restrict the parking of the rental house or guests which use the driveway on Academy St. These two buildings are only separated by 6-8 feet so they can not be divided or sold separately. They could easily be combined to create a 4000 sf building, or used as is. The brick building currently generates rental revenue, but could be used or rented out as a full time retail or office building. The property is not in the historic district, but benefits from a tax reduction from the age of the property. It is within walking distance of downtown Wendell and has high visibility due to its location on three of the main road interchanges. Showings will need to be arranged around guests as this is a very popular and successful VRBO rental.

Location

State NC

County Wake

Community Sidewalks

Zoning MIXED USE

Direction Take Wendell Blvd to corner of Academy and Wendell Blvd. On the corner of Wendell Blvd and Marshburn Rd also.

Rooms

Other Rooms Second Residence

Interior

Interior Features Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, Granite Counters, Smooth Ceilings

Heating Forced Air, Gas Pack

Cooling Central Air, Gas

Flooring Ceramic Tile, Hardwood, Vinyl

Fireplace No

Window Features Insulated Windows

Appliance Built-In Range, Dishwasher, Microwave, Refrigerator, Stainless Steel Appliance(s)

Laundry In Hall

Exterior

Exterior Feature Fenced Yard

Fence Chain Link, Wood

Community Features Sidewalks

Utilities Available Cable Available, Cable Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Downtown

Roof Type Shingle

Street Surface Asphalt

Porch Covered, Front Porch, Porch, Side Porch

Parking Type Additional Parking, Parking Lot

Garage No

Private Pool No

Building

Lot Description City Lot, Level

Faces Take Wendell Blvd to corner of Academy and Wendell Blvd. On the corner of Wendell Blvd and Marshburn Rd also.

Foundation Brick/Mortar, Permanent

Sewer Public Sewer

Water Public

Architectural Style Cottage

Structure Type Brick,Vinyl Siding

New Construction No

Schools

Elementary Schools Wake - Wendell

Middle Schools Wake - Wendell

High Schools Wake - East Wake

Others

Tax ID 1784516659

Special Listing Condition Seller Licensed Real Estate Professional

The Coley Group

Client Coordinator

+1(919) 868-3570

The Coley Group

242 W Academy Street Wendell, NC 27591

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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242 W Academy Street