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705 N Main St 7,440 SF Vacant Retail Building Winston-Salem, NC 27101 $895,000 ($120.30/SF)
INVESTMENT HIGHLIGHTS
- Located three blocks from Winston-Salem’s new amphitheater
- Positioned in the walkable Industry Hill neighborhood
- Surrounded by growing residential and entertainment hubs
- All floors separately metered for condo conversion potential
- Includes roof decks and lower-level parking and storage
- Asking price of $895,000 with redevelopment upside
EXECUTIVE SUMMARY
Positioned in the heart of Winston-Salem’s revitalized Industry Hill district, 705 N. Main Street presents a compelling residential redevelopment opportunity just three blocks from the city’s upcoming amphitheater, slated to open in Spring 2026. This ±7,440 square foot, three-level structure was most recently used as storefront retail and offers a flexible layout ideal for conversion into condominiums or multi-unit residential.
Each of the three floors is separately metered, supporting individual unit development and ownership. The building spans approximately 2,480 square feet per level, with existing roof decks and lower-level parking and storage enhancing its appeal for urban living. Located within walking distance of downtown amenities, breweries, and cultural venues, the property benefits from strong demographic trends, with over 167,000 residents within a five-mile radius and average household incomes exceeding $68,000.
The site’s proximity to major redevelopment projects and its placement within a vibrant, walkable district make it a strategic acquisition for developers seeking to capitalize on Winston-Salem’s growth. Whether reimagined as boutique condos, creative live-work spaces, or a hybrid residential-retail concept, 705 N. Main offers the infrastructure and location to support long-term value.
Each of the three floors is separately metered, supporting individual unit development and ownership. The building spans approximately 2,480 square feet per level, with existing roof decks and lower-level parking and storage enhancing its appeal for urban living. Located within walking distance of downtown amenities, breweries, and cultural venues, the property benefits from strong demographic trends, with over 167,000 residents within a five-mile radius and average household incomes exceeding $68,000.
The site’s proximity to major redevelopment projects and its placement within a vibrant, walkable district make it a strategic acquisition for developers seeking to capitalize on Winston-Salem’s growth. Whether reimagined as boutique condos, creative live-work spaces, or a hybrid residential-retail concept, 705 N. Main offers the infrastructure and location to support long-term value.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,440 SF
Building Class
C
Year Built
1913
Price
$895,000
Price Per SF
$120.30
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
2.85
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
PB - Best zoning, can be Commercial, Office
Parking
5 Spaces (0.67 Spaces per 1,000 SF Leased)
Frontage
34’ on N Main St
AMENITIES
- Courtyard
- Security System
- Roof Terrace
- Air Conditioning
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6835-28-3714 | Improvements Assessment | $806,600 |
| Land Assessment | $38,900 | Total Assessment | $845,500 |
PROPERTY TAXES
Parcel Number
6835-28-3714
Land Assessment
$38,900
Improvements Assessment
$806,600
Total Assessment
$845,500
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