Active
870 Main Street
Blowing Rock NC, 28605
$5,450,000
$878.04 per sqft
Active
11 Beds
9 Baths
6,207 sqft
Residential
Built in 1940
Listing Courtesy of Gillooly & Associates Realty
8.01% CAP RATE! RARE INVESTMENT OPPORTUNITY-NEWLY RENOVATED/FULLY FURNISHED, 3-story, 6,207 Sq. Ft. Multi-Purpose Commercial Restaurant/Residential Building w/ 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 w/ professional decor, 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!
251028
MLSⓇ ID
July 24, 2024
Listed
October 26, 2024
Updated
Map
870 Main Street
Blowing Rock NC, 28605
Interior Features
Total Stories
3
Bedrooms
11
Total Bathrooms
9
Full Bathrooms
7
Half Bathrooms
2
Interior Features
Attic, Carbon Monoxide Detector, Furnished, Handicap Access, Hot Tub/Spa, Pull Down Attic Stairs, Second Kitchen, Vaulted Ceiling(s), Window Treatments
Appliances
Convection Oven, Cooktop, Down Draft, Dryer, Dishwasher, Exhaust Fan, Freezer, Gas Cooktop, Disposal, Gas Water Heater, Microwave, Refrigerator, Tankless Water Heater, Washer
Laundry Description
Upper Level
Fireplace
Yes
Fireplace Description
Other, See Remarks
Cooling
Yes
Cooling Description
Electric
Heating
Yes
Heating Description
Ductless
Exterior/Building Features
Lot Size
0.26 Acres
Exterior Features
Hot Tub/Spa
Architectual Style
Mountain
Roof
Metal
Sewer
Public Sewer
School Information
High School
Watauga
Elementary School
Blowing Rock
Other Property Details
Area Name
4-BlueRdg, BlowRck YadVall-Pattsn-Globe-CALDWLL)
Taxes
$19,559
Tax Frequency
Annually
Days on Market
94
Garage
No
Parking
Asphalt, Driveway, Other, See Remarks
View
No
County
Watauga
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
10/26/2024 | Price change | $5,450,000 -10% |
The information from this search is provided by the High Country Association of REALTORS, Inc. Please be aware that not all listings produced from this search will be of this real estate company. All information is deemed reliable, but not guaranteed. Please verify all property information before entering into a purchase. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. This data is up-to-date as of 11:41 PM UTC 10/26/2024. For the most current information please contact RE/MAX Legendary at [email protected].
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