$4,950,000
- Beds
- 11
- Baths
- 8.0
- sq ft
- 6,207
870 Main St, Blowing Rock, NC 28605
870 Main St
Blowing Rock, NC 28605
- 122 days on market
- Price drop $500,000↓
8.82% Potential 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
$798
Year built
1940
Annual property taxes
$19,558.8
HOA
No
Price History
11/16/2024
HighCountry #251028
Price change
$4,950,000
-9.17%
10/26/2024
HighCountry #251028
Price change
$5,450,000
-9.17%
07/24/2024
HighCountry #251028
Listed
$5,999,950
Schools & Community
Elementary school:
Blowing Rock
Middle school:
Unknown
High school:
Watauga
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Status: Active
Tomo last checked: 11/23/2024 at 2:40 PM
Listing updated: 11/16/2024 at 1:00 PM
Listed by: Steven Gillooly, Gillooly & Associates Realty Phone #: (919) 612-9885
MLS: HighCountry #251028
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