Category: Investment

The Loewy Building

Commercial Realty Advisors is pleased to offer the opportunity to purchase the historic Loewy Building, located in the heart of downtown Winston-Salem, North Carolina.

This unique architectural gem was originally commissioned by Kate B. Reynolds in 1921. She hired local architects Northup and O’Brien to design two buildings that would encompass the full block. The original tenants were Morris-Early Furniture and Sosnik’s Department Store. In the late 1940’s Sosnik’s merged with Thalhimer’s and they commissioned the famed New York Design Firm of Raymond F. Loewy Associates to remodel the store.

Raymond Loewy Associates’ interior design for the Winston-Salem Thalhimer’s was featured in Interior Design magazine in September, 1950. The article observed: “that many department stores tend to emphasize in their design and arrangement the aims and character of the community they serve. The Sosnik-Thalhimer Department Store, a high quality women’s shop in Winston-Salem, is such a store, combining gracefully all the aforementioned qualities yet representing a new departure in store design. Its services are addressed to the more affluent customers in this rich tobacco country… Style was another important consideration, and in deciding upon the elimination of the stark, cold
phases of modern and concentrating upon a scheme of Louis XV and mellow eighteenth-century Italian, combined with the more pleasing and friendly phases of modern, a style was evoked that has won acclaim from the clients and their customers alike.”

 

OFFERING SUMMARY

The iconic Winston-Salem property sits on ±.97 acres with approximately ±80,000 SF and 65 Surface Parking Spots. The property presents a great opportunity for redevelopment as a boutique hotel, condominium or apartment building, or office building with retail and amenity space on the ground level. The property’s Historic Designation and its location in an Opportunity Zone offers potential economic subsidies and incentives to improve the overall feasibility of the redevelopment project. A truly iconic presence in Winston-Salem, The Loewy Building, is one of the landmark
properties of Downtown Winston-Salem.

OFFERING HIGHLIGHTS

  • Iconic historic property that qualifies for Historic Tax Credits and is located in an Opportunity Zone
  • Property size and layout are well suited for multi-family, hotel, and office development
  • Well located in the center of Winston-Salem’s vibrant downtown

Multifamily Site – Old Vineyard Road

This ±6.82 acres land assemblage features visibility from Country Club Road and has easy access to US 421, I-40, and Silas Creek Parkway. The property has unconditional multifamily RM18 zoning in place, having the potential for 120 multifamily units. Less than one mile to Food Lion grocery store, offering potential availability to low-income housing credits.

  • ±6.82 Acres
  • Sale Price: $2,500,00
  • Zoning: Unconditional Multifamily RM18
  • Traffic Count: ±20,500 VPD on Country Club Road (2019)
  • Easy access to US 421, I-40, and Silas Creek Parkway
  • Less than one mile to Food Lion, offering potential availability to low-income housing credits
  • Strategic location in western Winston-Salem allows for easy access to other areas of the Piedmont Triad

West Clemmonsville Rd. Development Site

This 1.38 acre property located in a popular south Winston-Salem area is conceptually designed for a 6 lot private subdivision. Perfect for a developer/builder wanting to quickly turnaround and sell developed lots or homes. Similar parcels have sold in Winston-Salem for over $110,000/ acre! Asking $90,579 / acre.

±7.8 Acre Commercial Parcel in Hamptonville, NC, Exit 264 on US-421

Excellent corner lot with ±7.881 acres of highly visible commercial land in Hamptonville, NC. The site is immediately off exit 264 on US-421 with approximately 400’ of frontage on Rocky Branch Road. Averaging 20,000 VPD on US-421, this is an ideal location for multiple highway business uses. The property is one mile east of I-77 with 36,500 average VPD, and sits across the street from an existing park and ride location. Don’t miss this incredible investment opportunity!

±18.91 Acres in Heart of High Point’s Palladium Retail Area

Large contiguous tract across Highway NC 68 from the Palladium in High Point. Prime redevelopment opportunity with 39,000 VPD! Don’t miss this opportunity to own ±18.91 acres in the heart of High Point’s Palladium retail area!

±1.74 ACRES PRIME RETAIL

Great opportunity to create a shopping center in this established retail location in Greensboro! Surrounded by existing retail, hotels, restaurants, this site is perfect as an investment or for an owner/user. Cleared level lot with existing utilities to the site. Convenient to I-40 and all parts of the Piedmont Triad.

  • ±1.74 Acres
  • Zoning: CU-SC-Shopping Center
  • Excellent access to I-40 / Fordham Blvd. and Wendover Ave.
  • Prime location for infill retail
  • Numerous national tenants in proximity
  • Guilford County PIN: 7833699491
  • $1,131,000 or $650,00 Per Acre