Welcome to the S.J. Nissen Wagon Works Building at 310 E Third Street, a renovated office/mixed-use property in Downtown Winston-Salem, North Carolina. This historic, approximately 33,000-square-foot multi-use building is ideal for office, event space, apartments, retail, and restaurant use.
The property was built in 1893 as a wagon building and repair shop, an essential component of the local tobacco distribution, with additions in the 1950s and 1980s. The original building is five stories with mostly open floorplans spanning 3,500 to 5,000 square feet per floor. Each floor of the three-story addition is approximately 2,500 square feet, with setups varying from open spaces to offices. Situated on 0.54 acres, the property has 42 surface parking spaces and borders the Winston-Salem Greenway and the Wake Forest Innovation Quarter. The facility has been well-maintained and upgraded throughout the years while maintaining its historic character. The S.J. Nissen Building is registered as a national and local landmark, qualifying for historic and local tax relief and is positioned within an Opportunity Zone.
The nearby 330-acre Innovation Quarter is North Carolina’s largest historic redevelopment project, consisting of 2.1 million square feet of office, lab, educational, and community spaces. The project’s total investment to date is greater than $841 million, and it is home to more than 170 companies, five academic institutions, 3,700 workers, and almost 10,000 students and workforce training participants. Phase II of the Innovation Quarter Master Plan was announced in 2021 and will add an additional 1 million square feet of clinical/lab/office space. The S.J. Nissen Wagon Works building is located directly between the Phase I and II plans and is incredibly central to the Innovation Quarter.
Investment Highlights
- 310 E Third Street is an eye-catching, 33,000- square-feet building in the heart of Downtown Winston-Salem, North Carolina.
- On the National Historic Register, the property qualifies for historic tax credits, such as 50% property tax reduction (historic Status).
- Renovated office/mixed-use property benefitting from open floor plans, advantageous location, and Opportunity Zone positioning.
- Prime location in the Innovation Quarter, a 2.1-million-square-foot research, information technology, biomedical science, and education.
- Abundant on-site parking with 42 Surface spaces.
- Tenant wishing to occupy full space looking for developer/investor in property for social club concept, long term lease.
- ±33,000 SF multi-purpose building
- Located in the heart of Innovation Quarter
- On the National and Local registry of historical places
- Historical & Opportunity Zone tax credits available
