NOT LISTED FOR SALE

2951 Us Highway 220 Madison, NC 27025

Estimated Value: $1,440,759

-- Bed
-- Bath
357,192 Sq Ft
$4/Sq Ft Est. Value

Last Sold March 31, 2016

Last sale price $280,000 $1 Per Sq Ft

Est. 415% increase in value since last sale

Current estimated payment $8,291/month

116 Days on Market

About This Home

As of March 2016

Access from south bound and north bound traffic on Hwy 220 makes this property a real deal! The building has been a successful restaurant many times over the past years, 25 parking spaces in a lighted parking lot, 2 entrances/exits, Zoning of Highway Commercial allows many uses with great visibility on Hwy 220, men and ladies restrooms, full bath, lots of storage, public water and sewer on Hwy 220(buyer to verify ability to connect), 306 sf storage in rear with garage door for easy unloading. Call today!

Last Agent to Sell the Property

Dawn Stone

A New Dawn Realty, Inc License #189791 Listed on: 02/18/2015

Last Buyer's Agent

Dawn Stone

A New Dawn Realty, Inc License #189791 Listed on: 02/18/2015

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $1,633

Year Built

  • Built in 1987

Lot Details

  • 8.2 Acre Lot
  • Level Lot
  • Property is zoned HC/RA

Community Details

  • No Home Owners Association
  • 357,192 Sq Ft Building

Listing and Financial Details

  • Assessor Parcel Number 121629,121630

Property Details

Property Type

Other

Est. Annual Taxes

$1,633

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Property Sub Type: Investment
  • Prop. Type: Commercial
  • Lot Size Acres: 8.2
  • Lot Size: 8.2 acres
  • Directions: From Greensboro, Hwy 220 North. Property on right before Sardis Church Rd.
  • Year Built: 1987
  • TRIADMLS_CityLimitsYN: No
  • Special Features: None

Exterior Features

  • Lot Features: Level, Sloped

Utilities

  • Sewer: Septic Tank
  • Gas Company: Available: On-Site

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel #: 121629,121630
  • Zoning: HC/RA
  • TRIADMLS_LandType: Retail
  • TRIADMLS_AcresRange: 7 - 108

Tax Info

  • Tax Annual Amount: 1632.98
  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 19, 2023
Sold by
Eleni Properties Llc
Bought by
Thomas Ray Long Year 2001 Irrevocable Trust and Long
Current Estimated Value
$1,440,759

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$613,000
Outstanding Balance
$484,073
Interest Rate
7.12%
Mortgage Type
New Conventional
Estimated Equity
$956,686

Purchase Details

Closed on
Oct 21, 2016
Sold by
Venture Properties Vii Llc
Bought by
Eleni Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,179,000
Interest Rate
3.5%
Mortgage Type
Future Advance Clause Open End Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Thomas Ray Long Year 2001 Irrevocable Trust $1,378,000 None Listed On Document
Eleni Properties Llc $1,473,000 Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Thomas Ray Long Year 2001 Irrevocable Trust $613,000
Previous Owner Eleni Properties Llc $1,179,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/31/2016 03/31/16 Sold $280,000 0.0% $1 / Sq Ft
06/15/2015 06/15/15 Pending -- -- --
02/18/2015 02/18/15 For Sale $280,000 -- $1 / Sq Ft
Source: Triad MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $9,000 $1,294,813 $247,227 $1,047,586
2024 $8,572 $1,294,813 $247,227 $1,047,586
2023 $9,145 $1,172,384 $214,980 $957,404
2022 $9,145 $1,172,384 $214,980 $957,404
2021 $9,145 $1,172,384 $214,980 $957,404
2020 $9,145 $1,172,384 $214,980 $957,404
2019 $9,145 $1,172,384 $214,980 $957,404
2018 $6,318 $808,913 $275,205 $533,708
2017 $6,318 $808,913 $275,205 $533,708
Source: Public Records

Agents Affiliated with this Home

  • Dawn Stone

    Seller's Agent in 2016

    Dawn Stone

    A New Dawn Realty, Inc

    (336) 312-4226

    76 Total Sales

    Dawn Stone
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Map

Source: Triad MLS

MLS Number: 731547

Triad MLS

APN: 79230119571000

North Carolina Rockingham County Madison 27025

2951 Us Highway 220, Madison, NC

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