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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!
| DAYS ON MARKET | 120 | LAST UPDATED | 11/16/2024 |
|---|---|---|---|
| TRACT | Snyder Place | YEAR BUILT | 1940 |
| COMMUNITY | 4-BlueRdg, BlowRck YadVall-Pattsn-Globe-CALDWLL) | COUNTY | Watauga |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| Elementary School | Blowing Rock |
|---|---|
| High School | Watauga |
| PRICE HISTORY | |
| Prior to Oct 26, '24 | $5,999,950 |
|---|---|
| Oct 26, '24 - Nov 16, '24 | $5,450,000 |
| Nov 16, '24 - Today | $4,950,000 |
| ADDITIONAL DETAILS | |
| AIR | Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Convection Oven, Cooktop, Dishwasher, Disposal, Down Draft, Dryer, Exhaust Fan, Freezer, Gas Cooktop, Gas Water Heater, Microwave, Refrigerator, Tankless Water Heater, Washer |
| AREA | 4-BlueRdg, BlowRck YadVall-Pattsn-Globe-CALDWLL) |
| CONSTRUCTION | Brick, Frame, Stone, Wood Siding |
| HEAT | Ductless, Exhaust Fan |
| INTERIOR | Vaulted Ceiling(s) |
| LOT | 0.26 acre(s) |
| PARKING | Asphalt, Driveway, Other, See Remarks |
| SEWER | Public Sewer |
| STORIES | 3+ |
| STYLE | Mountain |
| SUBDIVISION | Snyder Place |
| TAXES | 19558.8 |
| WATER | Public |
| ZONING | Central Business,Other-See Remarks |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Steven Gillooly, Gillooly & Associates Realty, 919-612-9885
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