112829

200 Sir Walter Raleigh Street , Manteo

$723,600

MLS#: 112829 Property Type: Commercial Address: 200 Sir Walter Raleigh Street City / Zip: Manteo, NC 27954 Area: Manteo-S. of Airport Road County: Dare Year Built: 1939 Date Listed: 02/10/2021 Status: Under Contract

Agent's Comments

List price based on tax value. 100% Occupied Multi Family & Dev Opp, NC Outer Banks c 1939 brick former Manteo Post Office Building is now 4 apartments Corner lot - Prime location in Town of Manteo w/water views The second, Evans Building former Office/Retail needs rehab or demo Re-imagine/re-purpose to take full advantage of this premier property! Walk back in time, to the late 1800's and picture the thriving boat building and port town of Manteo. The Evans family were early settlers here, building their lovely white homeplace before the town was even incorporated. The Evans Brothers General Store and post office was a hub for supplies and a warm, winter gathering place for conversation and coffee around the traditional pot-bellied stove. The Evans family has lived and worked in that same place ever since. Sadly, the wood frame general store burned in the great Manteo fire of 1939, so the sturdy brick building was constructed to serve as the increasingly-busy post office while the population of Manteo grew after the reconstruction. Today, Manteo is the county seat of Dare, and tourism thrives (pandemic aside!) with the arts, theater, festivals, fishing, restaurants, concerts, the Elizabethan Gardens and more. Little wonder the late Andy Griffith chose to make Manteo his home! This is a singular chance to name your price to own and re-develop a visible corner property in the town of Manteo. Keep the monthly income of the apartments flowing while you decide the best use for this property, family owned since the 1800's. Building 1 - 200-202 Sir Walter Raleigh St. (note: the Dare County tax record uses the address of 100 Old Tom Ave. corner Evans Building painted masonry +/- 7,362 SF per tax record 2 story, built 1959 Building requires major repair/remediation OR demolition (estimate in PIP $64,800) Flat tar paper roof (failing),Carpet, drop ceilings, knotty pine paneling, 2 half baths up and 2 half baths down Last occupied 2019 - former tenants include Jackson Hewitt tax preparers, graphic design office, Odd n Ends retail, law office. Apt in rear that was AirBNB w full bath. Separate HVAC units up and down Municipal water & sewer B-1 zoning Building 2 - 204-206 Sir Walter Raleigh St. +/-3,032 SF per tax record 2 story red brick, plaster walls, built 1939 Served as Manteo post office for 3 decades 5 separate electric meters, for each unit and common area Washer/Dryer in first level common area First level units 204 A & B. Window mount split units for heat & air Second level units 206 A & B Unit A is the most recently updated. Elec baseboard heat, window AC units. Rent roll: 3 units @ $850/mo, 1 unit $800/mo Gross annual rent $40,200 Tenants pay electric, owners pays water/sewer. There is a shortage of year-round, affordable housing on the Outer Banks, so these always rent quickly. IMPORTANT NOTE: the Evans c1871 family homeplace next door, is also on the market-- buy that, and add to your options. Inn or Bed & Breakfast, restaurant, add cottages facing the sound, retail, outdoor market… opportunity knocks!

*Listing provided courtesy of the MLS.
Amenities
Interior Features
  • Air Conditioning: Window Unit(s)
  • Heating: Electric
External Features
  • Lot Description: Corner, Level
  • Lot Description: Corner, Level
Additional Features
  • Contruction: Block, Masonry
  • County: Dare
  • Property Sub Type: Quadruplex
  • Year Built: 1939
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Listings provided courtesy of Tranzon Fox Auctions. and Outer Banks MLS.

Information Deemed Reliable But Not Guaranteed

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