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$4,500,000

Beds
11
Baths
8.0
sq ft
6,207

870 Main St, Blowing Rock, NC 28605

870 Main St

Blowing Rock, NC 28605

  • 153 days on market
    • Price drop $200,000↓
6.75 % CAP RATE! RARE INVESTMENT OPPORTUNITY-NEWLY RENOVATED/FULLY FURNISHED, 3-story, 6,207 Sq. Ft. Multi-Purpose Commercial Restaurant/Residential Building 11 Bedrooms Marble Baths in picturesque Downtown Blowing Rock. Exceptional income/investment potential or a personal residence! Meticulous attention to detail, Over $3,500,000 in renovations in 2024. Radiates elegance, professional décor, new furnishings, & new smart T.V.s. New lighting, ceiling fans, and appliances. With new HVAC units, instant water heaters, and separate utility meters, this building allows the new owner to retain one or both residential units for personal use or capitalize on income/investment opportunities. The Social on Main Restaurant operates under a long-term lease on the 1st Floor. Short-term rentals in the residential units complement the restaurant's income. $486,000 Projected Income Per Year. Expenses average $49,542.40 per year. A charming large outdoor hand-built stone seating area enveloped in gas lanterns creates an enchanting ambiance overlooking Main Street. The second floor has 5 bedrooms adorned w/ marble bathrooms featuring heated/bidet toilet seats, a shared laundry room, and a gourmet kitchen connected to a large family room. An expansive outdoor deck features a new built-in gas grill and Jacuzzi. The third floor unveils 6 bedrooms, w/ marble bathrooms with heated/bidet toilet seats, alongside a grand kitchen and family room featuring vaulted ceilings. A sprawling outdoor deck w/ built-in gas cooking grill offers panoramic views of Main Street Downtown Blowing Rock. Both units boast expansive windows overlooking Main Street. The building has legal approval with the Town of Blowing Rock, allowing short-term rentals through platforms like AirBNB and VRBO due to the property's commercial zoning. Notably, the property features its own parking lot with assigned spaces for each bedroom for the residential units, a rare amenity in downtown Blowing Rock. PRICED TO SELL!

Details

Property type

Single Family Residence

Lot size

0.26 acres

Price per sq ft

$725

Year built

1940

Annual property taxes

$19,558.8

HOA

No

Price History

12/18/2024
HighCountry

HighCountry #251028

Price change
$4,500,000
-4.26%
12/15/2024
HighCountry

HighCountry #251028

Price change
$4,700,000
-2.08%
11/24/2024
HighCountry

HighCountry #251028

Price change
$4,800,000
-3.03%

Schools & Community

Elementary school: 

Blowing Rock

Middle school: 

Unknown

High school: 

Watauga

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Status: Active

Tomo last checked: 12/24/2024 at 11:10 AM

Listing updated: 12/18/2024 at 12:34 PM

Listed by: Steven Gillooly, Gillooly & Associates Realty Phone #: (919) 612-9885

MLS: HighCountry #251028

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