318 Bouchelle StMorganton, NC 28655

Property Details for 318 Bouchelle St

Year built

1930

Construction

WOOD FRAME

Lot size

1.10 AC

Property size (Sq ft)

1,902 SF

Zone code

MEDIUM INTENSITY DIST

Property type

Turn key restaurants

APN

37931

APU

37931

Description

This exceptional commercial property, located at 318 Bouchelle Street in Morganton, NC, presents a unique investment opportunity. Originally St. Stephens Episcopal Church, this charming building underwent a thoughtful renovation in 2021, seamlessly blending its historical character with modern amenities. The 1.1-acre lot offers ample space, and the interior was redesigned for a doughnut shop, but is readily adaptable to various commercial uses. Key improvements completed in 2021 include a new roof and HVAC system. The kitchen is conveniently located downstairs, with provisions made for a future dumbwaiter installation. For food service businesses, the property boasts tankless water heaters, a vented hood, and a grease trap, all installed in 2021, ensuring immediate operational readiness. The spacious main dining area comfortably accommodates numerous patrons, complemented by additional outdoor patio seating. Its prime location behind the Fairfield Inn & Suites and directly across from Morganton's bustling central business district provides exceptional visibility and accessibility. Morganton's vibrant downtown area is known for its thriving blend of historical charm and modern growth, offering a diverse range of shopping, dining, and arts-focused establishments. This property represents a rare chance to own a piece of Morganton's history while capitalizing on the city's continued economic expansion. The asking price is $499,000.

• CAP approach

  CAP return

  Valuation

  6%

  $653,290

  6.5%

  $603,036

  7%

  $559,962

• Comparable approach

  Method

  Valuation

  Relative Method

  $811,653

  Geo Method

  $811,653

• Alternative Use

  Use

  Valuation

  Residential

  $508,684

  Hospitality

  $465,952

  Educational

  $387,666

  Medical

  $400,999

  Retail

  $603,036

Location Insight

City

Morganton

County

Burke

State

North Carolina

Latitude

35.7498

Longitude

-81.6917

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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