Former Hotel Redevelopment
For Sale
$495,000
1010 S Garnett Street, Henderson, NC 27536
Commercial Sale, Henderson, NC
Property Size13,800 SF
Lot Size1.18 Acres
Price / SF$35.87
Days on Market175
Property Features for 1010 S Garnett Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OIA
Parking
20
Standard status
Active
APN
0005 07019 & 0005 07005
Size
13,800 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DB 1370, PG 468 & DB 1427, PG 1077
Tax Annual Amount
4895
Legal Description
DB 1370, PG 468 & DB 1427, PG 1077
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1949
Floors in Building
2
Listing Agency:
Ninja Realty
(252) 226-0992
Listed By:
James Hutson · License #259143
(252) 915-2311
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 10148505
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Redevelopment opportunity featuring a former 25-room hotel originally constructed in 1949, plus four additional apartment units. Most guest rooms include private baths, with a limited number configured with shared community baths consistent with a mid-century hotel layout. A breezeway connects the primary lodging structure to a second building that previously operated as a restaurant. The property includes dedicated on-site parking and is currently vacant and requires substantial rehabilitation; no operating financials are available.
The site comprises three parcels totaling approximately 1.181 acres and is located at a signalized intersection of S. Garnett Street and Raleigh Road. The property offers direct access to US-1 and proximity to I-85 for convenient regional connectivity. It is also described as being within walking distance to downtown and near regional medical facilities.
Zoned OIA (Office, Institutional & Residential), the offering highlights flexibility for a potential mix of uses, including hotel redevelopment, office or medical conversion, multifamily or workforce housing conversion, mixed-use redevelopment, and institutional or community use. The property is being sold as-is, with historical tax credits available if the developer meets specified conditions.
The site comprises three parcels totaling approximately 1.181 acres and is located at a signalized intersection of S. Garnett Street and Raleigh Road. The property offers direct access to US-1 and proximity to I-85 for convenient regional connectivity. It is also described as being within walking distance to downtown and near regional medical facilities.
Zoned OIA (Office, Institutional & Residential), the offering highlights flexibility for a potential mix of uses, including hotel redevelopment, office or medical conversion, multifamily or workforce housing conversion, mixed-use redevelopment, and institutional or community use. The property is being sold as-is, with historical tax credits available if the developer meets specified conditions.
Key Highlights
- 25‑room former hotel built in 1949 plus 4 additional apartment units
- Two‑building setup with a breezeway connecting lodging to a second building previously used as a restaurant
- Three parcels totaling approximately 1.181 acres with dedicated on‑site parking
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 27536, NC
15,998
Population
7,432
Households
2.2
Avg Household Size
40
Median Age
17%
College-Educated
83%
High-School Grad
12.1 sq mi
ZIP Area
1,322
Density / Sq Mi
$39,491
Median Household Income
$30,171
Median Earnings
$841
Median Rent
$120,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Vacant 25-room former hotel with four apartment units and connected former restaurant building, sold as-is.
Where is this hotel located?
The property is located at 1010 S Garnett Street Henderson, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 25‑room former hotel built in 1949 plus 4 additional apartment units; Two‑building setup with a breezeway connecting lodging to a second building previously used as a restaurant; Three parcels totaling approximately 1.181 acres with dedicated on‑site parking
