222 Main StElkin, NC 28621

Property Details for 222 Main St

Year built

1915

Lot size

1.05 AC

Property size (Sq ft)

27,774 SF

Zone code

B1

Property type

Retail space

APN

4951-14-42-8977

APU

495114428977

Description

This exceptional investment opportunity presents a historic, two-story restaurant and brewery located at 222 E. Main St., Elkin, NC, 28621. The property boasts a substantial 30,000 square feet of space situated on a 1.05-acre lot. Originally built in 1917 and extensively renovated in 2012, the building is in excellent condition and ready for immediate operation. The asking price is $2,500,000, translating to a price per square foot of $83.33. This turnkey operation currently houses a single tenant operating a successful restaurant and brewery, making it an ideal acquisition for an event hall operator or investor seeking a well-established business. The property's prime location in Elkin, Surry County, North Carolina, offers significant potential for growth and profitability. The building's unique history and substantial size provide ample space for various uses, including expansion of the existing restaurant and brewery or the addition of event space. This is a rare opportunity to acquire a well-maintained, historically significant commercial property in a desirable location with a proven track record of success. The property's size, location, and existing tenant make it a compelling investment prospect with significant upside potential. Detailed financial information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $4,479,287

  6.5%

  $4,134,726

  7%

  $3,839,389

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,884,099

  Geo Method

  $11,852,188

• Alternative Use

  Use

  Valuation

  Residential

  $3,487,796

  Hospitality

  $3,194,803

  Educational

  $2,658,038

  Medical

  $2,749,452

  Retail

  $4,134,726

Location Insight

City

Elkin

County

Surry

State

North Carolina

Latitude

36.2445

Longitude

-80.8486

CBSA code

34340

CBSA name

MOUNT AIRY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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