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414 McArthur Dr
Elizabeth City, NC 27909
Montero's Restaurant · Retail Property For Sale
Investment Highlights
- The beautiful colonial structure is surrounded by well landscaped grounds.
- Successful business and real estate opportunity.
- Ideal for a wedding or event venue.
- Great Elizabeth City location.
Executive Summary
Long term successful restaurant tenant occupies the facility. They have a triple net lease. The building underwent major renovations, additions and infra structure improvements approximately 15 years ago and the facility has been well maintained by the tenant. There are 55 paved parking spaces and other areas of unpaved parking for banquets and catering events.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,045 SF
Building Class
C
Year Built/Renovated
1900/2005
Price
$1,628,400 CAD
Price Per SF
$147.43 CAD
Cap Rate
8%
NOI
$130,272 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.12
Lot Size
2.06 AC
Zoning
I2
Parking
55 Spaces (4.98 Spaces per 1,000 SF Leased)
Frontage
450’ on McArthur Drive
Amenities
- Signage
About 414 MCARTHUR DR , ELIZABETH CITY, NC 27909
Beautifully landscaped property with ample restaurant parking. The building was built in the early 1900's and totally remodeled in 2005 Facility is well maintained by the tenant. The grounds are professionally landscaped and maintained. Ample paved parking with additional unpaved areas. The paved area handles 55 vehicles.
Property Taxes
| Parcel Number | 891306287402 | Improvements Assessment | $1,151,016 CAD |
| Land Assessment | $292,257 CAD | Total Assessment | $1,443,273 CAD |
Property Taxes
Parcel Number
891306287402
Land Assessment
$292,257 CAD
Improvements Assessment
$1,151,016 CAD
Total Assessment
$1,443,273 CAD
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