19612 Oak St
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19612 Oak St
9 Unit Block of Flats £1,232,898 (£136,989/Unit) Cornelius, NC 28031
Investment Highlights
- Downtown Cornelius
- Great Location
- Walking Distance to Shopping, Entertainment and Food
- Level Topo
Executive Summary
Note that the seller has agreed to sell the properties separately or together. Seeking $1,550,000 for the 9 Apartments and $350,000 for the land with house zone commercial
0.687 Acre with 9 MF Apartments all together (2 Buildings). (per tax records)
Currently Vacant
Part of Master Listing: 19612-19630 Oak St, Cornelius
Building 1: Built 1960 4,393 SF per Tax Records
Building 2: Built 1984 3,632 SF per Tax Records
From Acquisition in 2018: seller made the following improvements: Renovations: Kitchens, Bathrooms, A/C and roof.
• Level Topography
• Walking Distance to Downtown Cornelius, Town Hall, Police Department, Restaurants, Cain Center for the Arts, Oak Street Mill Village, Retail and more!
• The Venue is located next door (under construction): 70 Apartments and 6,000 SF Ground Floor Retail, Restaurant, Commercial, and Office Space in 1 – 5 Story Building
• Mills Market is located right off Catawba and Meridian Street (approved): 238 Multi Family Units and 12,000 SF Commercial Use. 5 Story Building (4 stories from Catawba) will have commercial on 1st Floor and Residential on remaining stories.
• Cain Center for the Arts: Located right off Catawba: A Community Arts Hub for Visual Arts, Performing Arts, and Social Experiences in NC LKN region.
• Greenway Gartens (approved): 448 residential units and 44,000 square feet of non-residential space. The Current Phase shows 346 multi-family units with 14 townhomes, along with up to a 14,000 square foot micro-brewery, restaurant/brewpub, and tap room; up to 10,000 square foot indoor events/gathering facility; and up to 10,000 square feet of commercial space. The Future phase contains an additional 88 residential units and an additional 10,000 square feet of commercial space.
• Caroline (approved): 180-unit active adult/age restricted multi-family and 110 unrestricted multi-family units in the Current Phase
• 19612 Oak Street: Parcel ID: 00521110: Currently has 9 Apartment Units on parcel.
• APARTMENT UNITS ARE CURRENTLY VACANT
• 2023 Average Household Income 5 mile: $135,143
• 2023 Population 5 mile: 94,658
• NCDOT AADT 2018: S. Main Street, Cornelius: 19,500 VPD
• NCDOT AADT 2016: Catawba Ave, Cornelius: 14,000 VPD
• https://www.cornelius.org/DocumentCenter/View/3331/CH-05-Zoning-and-Use-Regulations?bidId=
5.1.6: Town Center (TC) The Town Center district is coded to encourage the redevelopment and expansion of the traditional town center. This center is intended to serve as the civic, cultural, and governmental hub of activity for the Cornelius community. Town Center minimum building heights are established along main corridors to ensure proper spatial definition and encourage strong pedestrian
0.687 Acre with 9 MF Apartments all together (2 Buildings). (per tax records)
Currently Vacant
Part of Master Listing: 19612-19630 Oak St, Cornelius
Building 1: Built 1960 4,393 SF per Tax Records
Building 2: Built 1984 3,632 SF per Tax Records
From Acquisition in 2018: seller made the following improvements: Renovations: Kitchens, Bathrooms, A/C and roof.
• Level Topography
• Walking Distance to Downtown Cornelius, Town Hall, Police Department, Restaurants, Cain Center for the Arts, Oak Street Mill Village, Retail and more!
• The Venue is located next door (under construction): 70 Apartments and 6,000 SF Ground Floor Retail, Restaurant, Commercial, and Office Space in 1 – 5 Story Building
• Mills Market is located right off Catawba and Meridian Street (approved): 238 Multi Family Units and 12,000 SF Commercial Use. 5 Story Building (4 stories from Catawba) will have commercial on 1st Floor and Residential on remaining stories.
• Cain Center for the Arts: Located right off Catawba: A Community Arts Hub for Visual Arts, Performing Arts, and Social Experiences in NC LKN region.
• Greenway Gartens (approved): 448 residential units and 44,000 square feet of non-residential space. The Current Phase shows 346 multi-family units with 14 townhomes, along with up to a 14,000 square foot micro-brewery, restaurant/brewpub, and tap room; up to 10,000 square foot indoor events/gathering facility; and up to 10,000 square feet of commercial space. The Future phase contains an additional 88 residential units and an additional 10,000 square feet of commercial space.
• Caroline (approved): 180-unit active adult/age restricted multi-family and 110 unrestricted multi-family units in the Current Phase
• 19612 Oak Street: Parcel ID: 00521110: Currently has 9 Apartment Units on parcel.
• APARTMENT UNITS ARE CURRENTLY VACANT
• 2023 Average Household Income 5 mile: $135,143
• 2023 Population 5 mile: 94,658
• NCDOT AADT 2018: S. Main Street, Cornelius: 19,500 VPD
• NCDOT AADT 2016: Catawba Ave, Cornelius: 14,000 VPD
• https://www.cornelius.org/DocumentCenter/View/3331/CH-05-Zoning-and-Use-Regulations?bidId=
5.1.6: Town Center (TC) The Town Center district is coded to encourage the redevelopment and expansion of the traditional town center. This center is intended to serve as the civic, cultural, and governmental hub of activity for the Cornelius community. Town Center minimum building heights are established along main corridors to ensure proper spatial definition and encourage strong pedestrian
Property Facts Under Contract
| Price | £1,232,898 | Apartment Style | Low Rise |
| Price Per Unit | £136,989 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Sale Conditions | Development Sale | Building Size | 8,025 SF |
| No. Units | 9 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1960 |
| Property Subtype | Apartment |
| Price | £1,232,898 |
| Price Per Unit | £136,989 |
| Sale Type | Investment |
| Sale Conditions | Development Sale |
| No. Units | 9 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.68 AC |
| Building Size | 8,025 SF |
| Number of Floors | 1 |
| Year Built | 1960 |
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Wooden Floors
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 005-211-10 | Improvements Assessment | £804,566 |
| Land Assessment | £264,874 | Total Assessment | £1,069,440 |
PROPERTY TAXES
Parcel Number
005-211-10
Land Assessment
£264,874
Improvements Assessment
£804,566
Total Assessment
£1,069,440
zoning
| Zoning Code | TC (Town Center (TC)) |
| TC (Town Center (TC)) |
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19612 Oak St
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