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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