(former) Motor Company Building – NEW PRICE
- 7,250 square feet
- Lot Size: 0.166 acres / Zoning: Commercial/Central Business
, Regional Director
Preservation NC, Western Office
Great opportunity with redevelopment happening just across the street in Spencer’s Park Plaza! Click here to read more about the Park Plaza development in the Salisbury Post.
Join the revitalization of one of NC’s most walkable small town Main Streets! The historic (former) Motor Company Building (locally known as the Spencer Theatre) was built around 1919 and is located in the heart of Spencer’s National Register District (click here to see the National Register nomination). It is waiting on a renewed purpose and is an easy walk to nearby shops, adjoining historic neighborhoods, churches, the library and parks. The NC Transportation Museum is within view!
Spencer is a forward-thinking North Carolina Small Town Main Street City that offers the many pleasantries and amenities of a small village atmosphere, yet it is within easy access to I-85 and larger nearby urban centers such as Charlotte (45 minutes), Winston-Salem (45 minutes), Greensboro(one hour), and Lexington (30 minutes). An Amtrak station is just 3 miles away in Salisbury. Nearby attractions include the North Carolina Transportation Museum, Wil-Cox Pedestrian Bridge, and historic downtown Salisbury. Also nearby are several parks, including Dan Nicholas Park and Stanback Forest (also known as Spencer Woods), a 56-acre natural area with walking trails.
Architectural and Historical Information
Priced below tax value, this one story brick commercial structure with low gable front roof and stepped parapet façade was built ca. 1919 and is located in a block that is experiencing a renaissance of music-related businesses and there is plenty of on-street angled parking. Spencer’s unique alley system offers some interesting opportunities for developing this property.
The interior features highly distinctive Art Deco light fixtures, the original projection room and is laid out in a flexible way that offers many potential uses. It would make a great performance space to complement the growing music industry, an arts and crafts venue, a restaurant, or mixed use with retail and apartments. The floor plan makes for an easy transition to multiple possible uses.
The building will need a complete rehab including significant roof work, new electric, plumbing and HVAC systems as well as extensive interior rehab. It is currently eligible for the Federal 10% historic rehabilitation tax credits but could also be eligible for the North Carolina Main Street Solutions Grant or the North Carolina Department of Commerce’s Rehab Building program as well as business loan guarantees through the North Carolina Rural Center’s program.