September 08, 2019

Fantastic 5-Suite Commercial Building in Historic Downtown Salisbury!

Realtor Greg Rapp of Wallace Realty has listed one of downtown's more attractive historic commercial buildings for sale! What an opportunity to have your business, AND investment property, located in this prime location in the heart of thriving Salisbury, North Carolina.

Welcome to 205 East Council Street!

This beautiful brick single-story office building offers 11,116 square feet with (5) office or retail suites. The building, circa 1946, was originally an automobile dealership, and then became the garages for Flowers Bakery delivery trucks - the business that once occupied building across the street now known as East Square Artworks. 
1940s Automobile Advertisement

Spanning the entire width of the block along East Council Street in Salisbury between North Lee Street and Dept Street, this is one of the more impressive building in the downtown historic district. Although a vintage building with a story to tell, it has a distinctive modern flair and has been immaculately maintained.  The building went through a world-class renovation in the mid-1990s and remains one of most prestigious buildings in Salisbury.

A handsome domed roof covers Suite A (1,340 sf at $1,100/monthly lease), Suite B (2,126 sf at $1,800/monthly lease), Suite C (3,694 sf at $3,500/monthly lease, and Suites D & E both offering 918 sf and leasing at $650/month. The height of the domed roof provides graciously high ceilings in each suite, and the smaller Suites D & E have loft spaces! A long center hallway divides the spaces where common restrooms can be found. (Suite B has its own restrooms.) All suites are pre-wired for telephone and data connections and are wired for security systems. Tenants pay electric and gas utilities and security system; landlord pays water, sewage and trash collection.
This stellar building has been well maintained, most recently with the installation of new awnings and two new air conditioning units. Very nicely landscaped, the property even includes a planted park-like courtyard with seating. The east wall features built-in brick outdoor planter boxes planted with evergreens.

205 East Council Street offers another highly coveted amenity in Salisbury's downtown:


The building provides two private parking lots, is situated close to THREE other municipal lots and plenty of on-street parking.  The on-site lots include curbing and walkways - part of the downtown Pedestrian Plan - with attractive pedestrian level street lighting at the front facade.

You will be hard-pressed to find another building with this much parking, a valued commodity in Salisbury! Suite's A & B are currently leased, and at full capacity, the potential capitalization rate of 7% at full occupancy. Suite D currently is available, and at the close of September 2019, Suites C & E will be available.

You already know that 205 East Council Street is centrally located in the Historic Downtown municipal district, but did you know that this building is not even one city block from a popular local brewery, plenty of restaurants, the historic Amtrak station at the Salisbury Depot, the bus station, and the central business and commercial district.  The Rowan County Court House is just a few blocks away and the Rail Walk Arts District is a stone's throw to the north, with art galleries, community theatre, and another local micro-brewery. Interstate-85 is less than a mile from the building.

Now . . . we've yet to tell you the best part of 205 East Council Street's story!  Listed at $850,000, this fabulous building is priced FAR below its $1,252,831 tax value!!  Over $400K lower than its tax value!  

What are YOU waiting for?  If it is the opportunity to own a fantastic, move-in ready, 5-suite commercial building in the center of a vibrant historic downtown  - THIS IS IT!  Call Realtor® Greg Rapp today: 704.213.6846 for a walk-through!  Let's do this!

205 E. Council Street
Salisbury, NC 28144

Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office 

#SellingSalisbury #HomesForSale #RealEstateSalisbury #OldHouseGuy #GregRappRealtor #RealEstate #SalisburyNC #ListWithMe

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