Historic Country Estate with
For Sale
$1,800,000
1670 Southwest Boulevard, Newton, NC 28658
Circa 1848 restored estate with a 14-stall barn, commercial kitchen, and income-producing guest and flex spaces.
Property Size18,489 SF
Days on Market71
Property Features for 1670 Southwest Boulevard
General Information
Standard status
Active
Size
18,489 SF
Property subtype
Bed/Breakfast
Amenities
Cleared, Flood Plain/Bottom Land, Orchard(s), Green Area, Level, Open Lot, Pasture, Creek/Stream, Wooded
Public Sewer
Additional parcels description:, Parcel Number: 3639129570620000, Assessed Value: $885,700, Zoning: M1
Electric
Electric, Natural Gas, Oil
Listing ID: CAR4401181, Standard Status: Active, MLS Status: Active, Property Subtype: Bed/Breakfast, Special Conditions: None
Other Parking: Driveway and a gravel parking lot that can hold about 300 vehicles, Circular Driveway, Driveway
Window Treatments
Exterior Entry, Storage Space
Built in 1848, 9 buildings
County/Parish: Catawba
Other structures: Barn(s), Feed Barn, Hay Storage, Outbuilding, Tractor Shed, Workshop, Other - See Remarks
10 total bathrooms
Electricity Connected, Natural Gas, Propane, Water Source: City
Basement
Frontage Type: County Road, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Patio/Porch Features: Deck, Enclosed, Patio, Rear Porch, Screened
Electric Oven, Microwave, Oven, Refrigerator, Washer/Dryer, Other equipment: Fuel Tank - Owned
Building Details
Building Size
18,489 SF
Year Built
1848
Listing Agency:
Realty Executives of Hickory
(828) 328-8900
Listed By:
Kristen Mahoney
(828) 999-0705
Source:
Blackstreaminternational
Added: Jul 18
Changed: Sep 24
Last Checked: Sep 24 at 8:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives of Hickory
Investment Insights
Based on property information with market context.
Income-producing historic country estate for sale in Catawba County, built circa 1848 and thoughtfully restored. The property includes a fully furnished main residence, a 3600 sq ft Grand Flex Space wing currently used as a yoga hall with its own entrance, and a separate cottage with 2 rooms and 2 full baths. Additional income is supported by a detached workshop that is currently leased on a month-to-month basis.
Equestrian infrastructure is a focal point, with an impressive barn featuring dramatic soaring ceilings and 14 stalls, suited for horse boarding, training, breeding, or other equestrian ventures. Hospitality and events are also part of the existing operations, and the estate includes a commercial kitchen along with a screened-in patio featuring a wood-fire smoker. A generous gravel parking area and approximately 12–15 apple cider trees add to the on-site amenities.
For beverages and production concepts, the estate lists brewing and winemaking equipment conveying and an active liquor license. The property is offered on over 17 acres, with additional structures and spaces designed to support multiple on-site business uses.
Equestrian infrastructure is a focal point, with an impressive barn featuring dramatic soaring ceilings and 14 stalls, suited for horse boarding, training, breeding, or other equestrian ventures. Hospitality and events are also part of the existing operations, and the estate includes a commercial kitchen along with a screened-in patio featuring a wood-fire smoker. A generous gravel parking area and approximately 12–15 apple cider trees add to the on-site amenities.
For beverages and production concepts, the estate lists brewing and winemaking equipment conveying and an active liquor license. The property is offered on over 17 acres, with additional structures and spaces designed to support multiple on-site business uses.
Key Highlights
- Circa 1848 historic commercial estate on over 17 acres in Catawba County
- 14‑stall barn designed for equestrian use, plus additional structures including a detached workshop
- 3600 SF Grand Flex Space wing attached to the main house with its own entrance (currently used as a yoga hall)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,280
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,600
$1.2M
Cap Rate 7%
$846,857
$846.9K
Cap Rate 9%
$658,667
$658.7K
Market Conditions
NOI Build-Up for 18,489 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$277.3K $15.00/SF
− Vacancy
−$152.5K −$8.25/SF
EGI
$124.8K $6.75/SF
− OpEx
−$65.5K −$3.54/SF
NOI
$59.3K $3.21/SF
Area
Catawba County, NC
Vacancy
55.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,600
Cap Rate 7%
$846,857
Cap Rate 9%
$658,667
Alternative Uses
Best Use
Hotel Hospitality
$846.9K
$741.0K – $988.0K
NOI $59,280 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.40M
$4.73M – $6.30M
NOI $378,063 @ 7.0% cap · market cap 21.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 28658, NC
26,453
Population
10,958
Households
2.4
Avg Household Size
42
Median Age
19%
College-Educated
88%
High-School Grad
71.3 sq mi
ZIP Area
371
Density / Sq Mi
$67,805
Median Household Income
$41,013
Median Earnings
$933
Median Rent
$192,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Circa 1848 restored estate with a 14-stall barn, commercial kitchen, and income-producing guest and flex spaces.
Where is this bed & breakfast located?
The property is located at 1670 Southwest Boulevard Newton, NC.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Circa 1848 historic commercial estate on over 17 acres in Catawba County; 14‑stall barn designed for equestrian use, plus additional structures including a detached workshop; 3600 SF Grand Flex Space wing attached to the main house with its own entrance (currently used as a yoga hall)
