Active
242 W Academy Street
Wendell NC, 27591
$895,000
$440.67 per sqft
Active
3 Beds
3 Baths
2,031 sqft
Residential
Built in 1915
Listing courtesy of NorthGroup Real Estate, Inc.
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.
10030631
MLSⓇ ID
May 20, 2024
Listed
November 22, 2024
Updated
Map
242 W Academy Street
Wendell NC, 27591
Interior Features
Total Stories
1
Bedrooms
3
Total Bathrooms
3
Full Bathrooms
2
Half Bathrooms
1
Interior Features
Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, Granite Counters, Smooth Ceilings
Appliances
Built-In Range, Dishwasher, Microwave, Refrigerator, Stainless Steel Appliance(s)
Laundry Description
In Hall
Floor Description
Ceramic Tile, Hardwood, Vinyl
Fireplace
No
Cooling
Yes
Cooling Description
Central Air, Gas
Heating
Yes
Heating Description
Forced Air, Gas Pack
Exterior/Building Features
Lot Size
0.49 Acres
Exterior Features
Fenced Yard
Lot Features
City Lot, Level
Architectual Style
Cottage
Roof
Shingle
Sewer
Public Sewer
School Information
High School
Wake - East Wake
Elementary School
Wake - Wendell
Other Property Details
Taxes
$2,350
Tax Frequency
Annually
Days on Market
153
Garage
No
Parking
Additional Parking, Parking Lot
View
Yes
View Description
Downtown
County
Wake
Water Source
Public
Pool
No
Zoning
MIXED USE
Listing History
Date | Event | Price |
---|---|---|
10/11/2024 | Price change | $895,000 -6% |
Listed by Amanda G Rivera, , NorthGroup Real Estate, Inc.
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Data last updated 9:18 PM UTC, 11/22/2024