870 Main St

Investment Highlights

Newly Renovated Building Inside and Out! Located in the Heart of Downtown Blowing Rock NC. Ample Parking w/ 11 Bdrms for personal or income producing.

Executive Summary

NEWLY RENOVATED, 3-story, 7,000 Sq. Ft. Mixed-Use-Multi-Purpose Commercial (Restaurant)/Residential Building with (11 Bedrooms and Marble Bathrooms) at 870 Main Street in picturesque Downtown Blowing Rock, North Carolina, presents exceptional income and investment potential! Crafted with meticulous attention to detail, boasting over $3,500,000 in renovations, this property radiates elegance with its fresh, professional d?cor, new furnishings, and new smart T.V.s in every room. New lighting, ceiling fans, and appliances also ensure immediate move-in readiness.Featuring new HVAC units, instant water heaters on each floor, and separate utility meters, this building offers the new owner the flexibility to retain one or both residential units for personal use or capitalize on income/investment opportunities.On the ground floor, the renowned "The Social on Main Restaurant" operates under a long-term lease, yielding $8,500 in monthly rental income. Potential short-term rentals in the residential units above complement the restaurant's income. This building has been recently completely renovated. The projected income for the residential units is approximately $700 per night on average throughout the year for each floor with an average monthly income of $14,000 per month per floor x 2 residential floors = $28,000 potential income if each floor was rented on average 20 days out of each month. $28,000 x 12 months = $336,000 Per Year Projected Residential Income Plus $8,500 Per Month Restaurant Income x 12 months = $102,000. $336,000 + $102,000 = $438,000 Projected Income Per Year. Expenses average $41,264.44 per year. A charming large outdoor hand-built stone seating area enveloped in gas lanterns creates an enchanting ambiance overlooking Main Street.Ascend to the second floor to discover 5 bedrooms adorned with marble bathrooms featuring heated/bidet toilet seats, a shared laundry room, and a gourmet kitchen connected to a spacious family room. An expansive outdoor deck features a new built-in gas grill and Jacuzzi. The third floor unveils 6 bedrooms, each boasting marble bathrooms with heated/bidet toilet seats, alongside a grand kitchen and family room featuring vaulted ceilings. A sprawling private outdoor deck with a 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.Blowing Rock, nestled in the scenic Blue Ridge Mountains, is nationally recognized for its natural beauty and tourism appeal. With accolades such as Best Mountain Getaway and Best Downtown and Main Street Local Shopping Town, Blowing Rock attracts visitors year-round, ensuring a steady stream of rental income for investment properties. The town's stable real estate market, coupled with its strong sense of community and range of amenities, further enhances its appeal to both tourists and residents.With limited supply and steady demand, Blowing Rock offers favorable conditions for real estate investors, which could lead to increased property values and rental income. Whether you're interested in vacation rental properties or commercial ventures, Blowing Rock's desirable location and strong tourism appeal make it an ideal investment destination.Surrounded by breathtaking natural landscapes and attractions such as the Blue Ridge Parkway, Moses H. Cone Memorial Park, Tweetsie Railroad, Grandfather Mountain, and Blowing Rock Art and History Museum, Blowing Rock offers something for everyone, from outdoor enthusiasts to history buffs.Don't miss this Unparalleled Opportunity to own a piece of History in Downtown Blowing Rock, NC! Call now to schedule your showing and seize this Incredible Investment Opportunity!

• Sale Type    Investment or Owner User
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    7,000
• Building Class    C
• Year Built/Renovated    1940/2023
• Price    5,999,950
• Price Per SF    857
• Cap Rate    6.61
• NOI    396,735
• Percent Leased    100
• Tenancy    Multiple
• Building Height    3 Stories
• Building FAR    0.41
• Land Acres    0.39 AC

• Corner Lot
• Restaurant
• Security System
• Signage
• Tenant Controlled HVAC
• Air Conditioning
• Smoke Detector