850 & 890 Chatham Road
Redevelopment Opportunity for 46 loft apartments, storage units, or other mixed use spaces
Marketing description
850 & 890 Chatham Road is the third and final phase of the former mill‑campus redevelopment at the historic Chatham Mill Campus in Winston‑Salem. The property consists of two adjacent buildings, totaling 57,190 SF, sitting on a 1.02‑acre parcel — offering a substantial footprint for adaptive reuse.
All entitlements are complete, making it “shovel‑ready” for redevelopment.
A new roof was completed in 2023, enhancing the building’s structural readiness and reducing near‑term capital expenditure for a buyer.
Given its historic‑registry status, the property qualifies for historic rehabilitation tax credits, and it is located within an Opportunity Zone — factors that may provide incentive potential for investors or developers.
Its proximity to downtown Winston‑Salem, the nearby Wake Forest University, the historic West End district, and public transit enhances its appeal for residential, mixed‑use, or creative-office conversion.
- Asking Price: $ 1,950,000
- Building / Total Size: 57,190 SF across 2 buildings / multiple levels
- Lot Size: 1.02 acres
- Zoning / Entitlements: Historic‑registered mill campus; redevelopment entitlements complete.
- Potential Use: Mixed‑use: loft apartments, storage units, creative office, retail, or other adaptive‑reuse concepts.
Investment highlights
- Historic/Mill‑Campus Character — The property is part of a former mill campus with historic‑registry status, giving it unique architectural character and appeal for loft‑style apartments or creative uses.
- Redevelopment‑Ready with Entitlements Complete — Permits and plans are in place, eliminating much of the upfront entitlement risk typical of redevelopment projects.
- Substantial Building Size and Lot — 57,190 SF over two buildings on 1.02 acres — offering flexibility whether converting into multi‑unit residential, mixed‑use, storage/office, or hybrid development.
- New Roof (2023) — A recently completed roof reduces near-term rehab/maintenance costs and increases the attractiveness for investors or owner‑users.
- Historic & Opportunity‑Zone Tax Incentives Eligible — Historic‑rehab tax credits and Opportunity Zone incentives may improve project returns or reduce financing costs.
- Mixed‑Use Adaptability — Suitable for 46 loft‑style apartments, storage, creative office, light industrial, retail, or a combination — offering flexibility to adapt to market demand.
- Proximity to Downtown, Transit & Institutions — Close to downtown amenities, educational institutions, nightlife, and transit, increasing potential demand for residential or creative-office conversion.
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