1150 Main St - Apartments CONDO FOR SALE


Blowing Rock, NC 28605
$1,165,000 USD
980-498-3293
1150 Main St, Blowing Rock, NC for Sale
$1,165,000 USD
Apartments CONDO - FOR SALE
1/2
null | 7% Cap Rate

1150 Main St
Blowing Rock, NC 28605


OVERVIEW

ATTRACTIVE LEASE FUNDAMENTALS - 5-year NNN lease structure provides owner a hands-off investment - 3% annual rental increases in primary term and in option period providing a strong inflation hedge AFFLUENT DEMOGRAPHICS OFF OF HWY 321 - The AHHI within a 1-mile radius of the site exceeds $120K - Subject is located on Main St in downtown Blowing Rock just off Hwy 321 (10.5K VPD) NEARBY MARKET DRIVERS - Downtown Blowing Rock is a major western NC tourist destination known for its quaint shops, restaurant options and park - Just 1.8 miles from the site is an access point for the Blue Ridge Parkway which reported over 16.7 Million visitors in 2023 and is referred to as Americas Favorite Drive ATTACHED PARKING GARAGE & MULTI-FAMILY - The property is served by street parking and benefits from its close proximity to a public parking deck that provides parking to downtown Blowing Rock - Directly above the retail condo are multi-family units - These are not included in the sale HIGHLY VISITED BLOWING ROCK, NC - In Watauga County in 2023 there were over 500K visitors spending more than $517 million dollars - In the Blowing Rock, NC immediate area there are 550 hotel rooms and over 50 miles of hiking trails with nearby attractions such as: Blue Ridge Parkway, The Blowing Rock, Moes H. Cone Memorial Park, Tweetsie Railroad, and more

FOR SALE DETAILS

PRICE

$1,165,000 USD

PRICE/SF

$530 USD /SF

CAP RATE

7%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

7,581 SF

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,283 SF

ZONING

BR-CB

APN/PARCEL ID

2807-97-0406-000

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.