WEST 4TH STREET - Foundry Commercial
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WEST 4TH STREET WINSTON-SALEM, NC ±6.08 ACRE, 25-PARCEL COVERED LAND PLAY 40 150 WEST 4TH STREET WEST 4TH STREET TAYLOR STREET SW TAYLOR STREET SW PETE RS CREEK P ARKWA Y PETE RS CREEK P ARKWA Y
Transcript of WEST 4TH STREET - Foundry Commercial
WEST 4TH STREETWINSTON-SALEM, NC±6.08 ACRE, 25-PARCEL COVERED LAND PLAY
40
150
WEST 4TH STREET
WEST 4TH STREETTAYLOR STREET SW
TAYLOR STREET SW
PETERS CREEK PARKWAY
PETERS CREEK PARKWAY
CAROLINA FOREST BOULEVARD
CAROLINA FOREST BOULEVARD
EXECUTIVE SUMMARY
WEST 4TH STREET
A RARE OFFERING
Foundry Commercial is pleased to offer the rare opportunity to acquire a ±6.08 acre, residential rental portfolio along West 4th Street, just outside Winston-Salem’s thriving downtown business district. The site is located along the high growth Peters Creek Parkway corridor less than a mile from the Downtown Business District, BB&T Ballfield, the Wake Forest Baptist Medical Center, and an abundance of retail and entertainment amenities. The offering consists of a 95% leased, 25-parcel, 74-unit assemblage of properties which feature a mix of income producing single-family residential and multi-family dwellings. Located along West 4th Street, just south of the I-40/US Highway 421 interchange at Peters Creek Parkway (exit 234A), the site provides unrivaled access to downtown Winston-Salem, as well as convenient connectivity to the region’s Interstate system.
The offering is currently zoned RSQ within in the City of Winston-Salem which allows for high-density residential dwellings, group homes, and religious institutions. With a review by planning board, the site is permitted for a planned residential development (PUD) or multifamily dwellings.
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
CAROLINA FOREST BOULEVARD
CAROLINA FOREST BOULEVARD
EXECUTIVE SUMMARY
WEST 4TH STREET
PROPERTY HIGHLIGHTS
Ultimately, the property is a well-located covered land play with redevelopment potential or a rare opportunity to acquire a large, contiguous, value-add income-producing residential rental portfolio.
• In-place NOI of $310,000 (including 8% management fee)
• Strong rental demand with long history of low vacancies
• Below market rents provide an immediate value-add opportunity through rent adjustments
• Ideal covered land play suited for investors or users seeking to redevelop the property while realizing a substantial income stream
• The project is being offered in “as is” condition without representation or warranties.
• Please call for pricing guidance.
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
FOUNDRY COMMERCIAL 4
AREA AMENITIES
BOWMAN GRAY
CAMPUS
SITESITE
WEST 4TH STREET
40
WAKE FOREST BAPTIST MEDICAL
CENTER
40
PETE
RS C
REEK
PA
RKW
AYPE
TERS
CRE
EK P
ARK
WAY
SECOND STREET NWSECOND STREET NW
COUNTRY CLUB ROAD
COUNTRY CLUB ROAD
WEST NORTHWEST
BOUL
EVAR
D
WEST NORTHWEST
BOUL
EVAR
D
ACADEMY STREETACADEMY STREET
SOUTH
HAWTHORNE R
OAD
SOUTH
HAWTHORNE R
OAD
BB&T BALLPARK
THRUWAY SHOPPING CENTER
CLOVERDALE PLAZA
DOWNTOWN WINSTON-
SALEM
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
75,600 VPD
82,000 VPD
23,000 VPD
PROPERTY INFORMATION
WEST 4TH STREET
PETERS CREEK PARKW
AYPETERS CREEK PA
RKWAY
40
WEST 4TH
STREETW
EST 4TH STREET
APPLE STREETAPPLE STREET
TAYLOR STREET
TAYLOR STREET
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
MAP PIN # ADDRESS ACREAGE SF
1 6825-73-8566 201 Taylor Street .11 2,478
2 6825-73-9578 1400 W 4th Street .14 1,481
3 6825-73-9574 1404 W 4th Street .17 2,951
4 6825-73-9484 1412 W 4th Street .16 2,100
5 6825-83-2405 1415 W 4th Street .34 3,826
6 6825-73-9348 1416 W 4th Street .33 2,788
7 6825-73-9340 1420 W 4th Street .33 2,636
8 6825-83-2309 1421 W 4th Street .17 288
9 6825-73-9244 1424 W 4th Street .33 2.658
10 6825-83-2303 1425 W 4th Street .40 1,976
11 6825-73-9157 1428 W 4th Street .26 2,420
12 6825-83-1297 1429 W 4th Street .20 1,810
13 6825-73-9142 1432 W 4th Street .26 1,282
14 6825-83-2202 1433 W 4th Street .24 1.986
15 6825-73-9057 1436 W 4th Street .23 1,158
16 6825-83-2113 1437 W 4th Street .61 5,280
17 6825-73-9062 1440 W 4th Street .20 1,158
18 6825-72-9985 1444 W 4th Street .23 2,254
19 6825-82-0817 1448 W 4th Street .22 784
20 6825-83-2014 1463 W 4th Street .25 1,297
21 6825-82-2919 1467 W 4th Street .25 1,221
22 6825-82-2914 1471 W 4th Street .20 1,521
23 6825-82-2910 1475 W 4th Street .25 1,092
24 6825-73-8494 0 Taylor Street .16 Vacant lot
25 6825-83-2297 0 W 4th Street .04 Vacant lot
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FOUNDRY COMMERCIAL 6
SURVEYWEST 4TH STREET
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
FOUNDRY COMMERCIAL 7
DEMOGRAPHICSWEST 4TH STREET
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
1 MILE 3 MILE 5 MILE
2019 ESTIMATED POPULATION 12,419 75,707 169,424
2024 PROJECTED POPULATION 13,121 80,370 178,437
2019 ESTIMATED HOUSEHOLDS 6,042 32,929 72,506
2024 PROJECTED HOUSEHOLDS 6,382 34,969 76,361
AVERAGE HH INCOME $61,778 $71,226 $67,750
MEDIAN HH INCOME $44,062 $50,649 $52,199
2019 TOTAL BUSINESSES 1,494 5,808 9,324
2019 TOTAL EMPLOYEES 19,694 72,578 115,257
DEMOGRAPHICS1 MILE 3 MILE 5 MILE
foundrycommercial.com
KARL HUDSON IV, CCIMSenior Vice President(919) 987 [email protected]
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
