127 Main StBurnsville, NC 28714

Property Details for 127 Main St

Year built

1965

Construction

WOOD FRAME

Lot size

0.19 AC

Property size (Sq ft)

6,716 SF

Zone code

C-1

Property type

Retail space

APN

082013244825.000

APU

82013244825000

Description

This exceptional 8,024 sq ft retail property, located at 127 West Main Street in Burnsville, NC, presents a unique investment opportunity. Situated on a 0.19-acre lot in the heart of downtown, this prime location offers unparalleled visibility and access to a vibrant community. The property boasts a rich history, originally constructed in the 1900s in the craftsman style and later expanded in the 1950s, creating a captivating "house within a house" effect. The multi-level space features four entrances, nine antique fireplaces, and 2.5 bathrooms. Original wood trim adds to the property's character and charm. Currently occupied by multiple local vendors and artisans, this property offers significant potential for expansion and redevelopment. Imagine adding a restaurant or brewery to complement the existing businesses and capitalize on the high foot traffic. Further enhancing the investment potential is a fully renovated one-bedroom, one-bathroom apartment at the rear of the building, which has generated income as both an Airbnb and long-term rental. A detached two-car tandem garage provides additional convenience and storage. This is a rare chance to acquire a piece of Burnsville's history and create a thriving commercial enterprise in a picturesque mountain setting. Priced at $850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,905,117

  6.5%

  $1,758,569

  7%

  $1,632,957

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,393,379

  Geo Method

  $1,393,379

• Alternative Use

  Use

  Valuation

  Residential

  $1,483,419

  Hospitality

  $1,358,804

  Educational

  $1,130,509

  Medical

  $1,169,389

  Retail

  $1,758,569

Location Insight

City

Burnsville

County

Yancey

State

North Carolina

Latitude

35.9169

Longitude

-82.3018

Property Tax & Assessments

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