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$1,500,000

Beds
10
Baths
10.0
sq ft
9,400

5880 Blowing Rock Boulevard, Lenoir, NC 28645

5880 Blowing Rock Boulevard

Lenoir, NC 28645

  • 73 days on market
DEVELOPMENT ALERT! Introducing this stunning property with endless potential, located just two miles from Downtown Blowing Rock, outside the town ETJ with no restrictions. This expansive estate, set on just over 5 acres, features a nearly 10,000 sq ft home with the potential for 11 bedrooms and 11 bathrooms, plus a detached ADU with 1 bedroom and 1 bathroom—your next family compound or a lucrative development project. The main house has been dried in, framed, with electrical rough-in completed and drywall installed on two floors. With over $700k invested in retaining walls, structural engineering, and foundation work, all the heavy lifting is done. Buyers only need to finish the interiors to their taste, making this a unique opportunity to create a true masterpiece in the prime part of the High Country. This property is loaded with possibilities, from a second kitchen, indoor basketball court, spa, movie theatre, or all of the above! Separate laundry facilities across four floors. Long-range layered views stretch for miles, offering a picturesque backdrop for any occasion. The preliminary plat has been surveyed with six proposed lots from the existing three, and two separate septic systems are already installed on two of those lots. Whether you're looking to develop a six-lot subdivision or create a family compound, the opportunities are endless. With seller financing available, this property is set to be the true unicorn of your portfolio. While it's hard to compare based on its uniqueness, the house alone could generate over $500k annually as a short-term rental. Don't miss this chance to own a piece of paradise in the most prime part of the High Country. Contact the agent for more details!

Details

Property type

Single Family Residence

Est. home value

$561,125

Lot size

5.67 acres

Price per sq ft

$160

Year built

2024

Annual property taxes

$1,934

HOA

No

Price History

10/11/2024
HighCountry

HighCountry #252291

Listed
$1,500,000
09/23/2024
HighCountry

HighCountry #250564

Removed
$1,500,000
06/26/2024
HighCountry

HighCountry #250564

Listed
$1,500,000
-40%

Schools & Community

Elementary school: 

Happy Valley

Middle school: 

Unknown

High school: 

Hibriten

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Green & Gold Properties Llc

Loan start date

August 2022

Original loan amount

$600,000

Est. remaining balance

Not provided

Interest rate

5.78%

Loan type

Commercial

Seller

Providential Homes Nc Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/23/2024 at 10:25 AM

Listing updated: 10/12/2024 at 7:56 AM

Listed by: Garrett Andersson, The Andersson Group Phone #: (828) 260-1877

MLS: HighCountry #252291

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