For Sale
$850,000

127 Main St Burnsville, NC 28714

Historic building, high NOI, great potential

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional Class A retail property, located at 127 W Main St, Burnsville, NC 28714, offers 8,024 square feet of renovated space across two buildings on a 0.19-acre lot. Built in 1913 and extensively renovated in 2022, this three-story storefront boasts 100% occupancy with a strong NOI of $47,328, generating a 5.57% cap rate. The property includes two commercial units and a separate studio apartment with excellent short-term rental potential, plus a detached single-car garage. Features include original hardwood floors, beautiful wood trim, and nine antique fireplaces. The property is zoned C-1 and offers versatile usage options, including retail, office, or residential conversion. The asking price is $850,000 ($105.93/sq ft). This prime location in Burnsville's downtown business district provides excellent visibility and access to a thriving community. The property's unique history and extensive renovations present a rare opportunity for investors and entrepreneurs alike. The existing business leases offer a stable income stream, while the property's versatility allows for a wide range of future uses. Don't miss this chance to acquire a piece of Burnsville's history and shape its future.

Highlights

  • 6.43% Cap Rate, achieved via three leases (two commercial, one residential).
  • Extensive renovations completed, encompassing new HVAC, electrical, and plumbing systems.
  • Prime Downtown Burnsville location with strong, established tenants.

Property Details for 127 Main St

Property type
Retail properties, Retail space
Square Feet
8,024 SF
Class
A
Year Built/Renovated
1913/2022
Buildings
2
Stories
3
Lot Size (sq. ft)
8,276 SF
Units
2

Location Insight

City
Burnsville
County
Yancey
State
North Carolina
Latitude
35.9170109
Longitude
-82.3019952

FAQs

What type of property is this?
Retail property - Historic building, high NOI, great potential
Where is the retail property located?
The property is located at 127 Main St Burnsville, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6.43% Cap Rate, achieved via three leases (two commercial, one residential).; Extensive renovations completed, encompassing new HVAC, electrical, and plumbing systems.; Prime Downtown Burnsville location with strong, established tenants.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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127 Main St
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