Rare Multi-Property Commercial & Residential Offering in Elizabeth City’s Historic Waterfront District
An exceptional opportunity to acquire four properties total — three contiguous commercial spaces located at 201, 205, and 207 N. Water Street, plus one residential condominium, located at 203 #B N. Water Street — in the heart of downtown Elizabeth City’s historic waterfront district.
The entire portfolio is offered for $1.5 million, with the flexibility to sell each property separately, allowing buyers to tailor the acquisition to their investment strategy.
Each commercial property includes dedicated parking spaces, a highly sought-after asset in the downtown core, and features distinctive historic character — including architectural salvage doors from the Crown Building in New York City, circa 1920, lending rare provenance and craftsmanship throughout the spaces.
All three commercial units have been beautifully renovated and are occupied by successful operating businesses, providing immediate income. Two leases offer renegotiation flexibility, while one space is leased through 2029 by a national company, delivering long-term, stable cash flow.
The portfolio is further strengthened by significant recent capital improvements, including brand-new HVAC systems installed at 201 N. Water Street, 205 N. Water Street, and the residential condominium. Additionally, there are no building assessments, reducing unforeseen ownership costs.
Situated steps from the waterfront, restaurants, shops, and cultural attractions, this offering places investors at the center of Elizabeth City’s continued downtown revitalization — a market seeing sustained commercial and residential demand.
Additional Residential Opportunity:
The residential condominium, 203 N. Water Street, #B, Elizabeth City, is also individually listed on Zillow, offering flexibility for owner-occupancy, short- or long-term rental potential, or a complementary mixed-use investment.
This is a rare chance to acquire a stabilized, income-producing downtown portfolio with upside, historic character, modern upgrades, and flexible purchase options in one of northeastern North Carolina’s most desirable waterfront districts.
2025 Pasquotank Tax Costs: 201 ($2,626.33), 205 ($4,431.05), 207 ($2,576.97), 203B ($4,357.61)
HOA fees due quarterly: 201 ($472.46), 205 ($768.62), 207 ($380.79), 203B ($951.56)
