114 E 5th St - Apartments FOR SALE


Greenville, NC 27858- Uptown Greenville
$3,262,000 USD
919-710-6400
114 E 5th St, Greenville, NC for Sale
$3,262,000 USD
Apartments - FOR SALE
1/18
null | 6.5% Cap Rate

114 E 5th St
Greenville, NC 27858
Uptown Greenville


HIGHLIGHTS

  • Steps from ECU’s West Campus
  • 12 Apartments; 33-Bed Loft Style Apartments; 2 Retail Spaces
  • Includes Private Parking Lot w/ 24 Spaces
  • Located in Uptown Greenville
  • Multitudes of Nearby Traffic Generators / Walkable Amenities
  • Recent capital improvements in 2026 exceed $62,000

OVERVIEW

Lee & Associates is pleased to present for sale “The Lofts on 5th”, a mixed-use asset strategically located adjacent to East Carolina University in Uptown Greenville. This building was originally constructed in 1927 as a three-story Montgomery Ward retail store, and was once described as “one of the most beautiful and imposing of any mercantile structure in the State”. Remnants of it’s history are still on display today through it’s original polychrome terra cotta facade, and bas-relief sculpture of the “Spirit of Progress” that can still be seen at the top of the building. In 1995, the building was converted into apartments and a restaurant space on the ground floor. The upper levels of the main building consist of 12 student, apartment units, with 33 bedrooms in total, and the lower level of the main building is occupied by a ±4500 SF restaurant called “Nash Hot Chicken”. The site includes adjacent courtyard spaces, a private parking lot with 24 spaces, and an additional adjacent retail building, consisting of ±700 RSF and occupied by “Nash Studios”.

FOR SALE DETAILS

PRICE

$3,262,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

14

PRICE/UNIT

$233,000

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Lofts on 5th

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1927

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

CD

APN/PARCEL ID

001357

ASK ABOUT THIS PROPERTY

Kyle GrossLee & AssociatesMore Info
919-710-6400

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Kyle GrossLee & AssociatesMore Info
919-710-6400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.