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    3385 Us-321 Blowing Rock, NC 28605

    Sponsored
    For Sale
    $997,000

    Blowing Rock, NC apartment building, great potential.

    Property size:
    3,110 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This Blowing Rock, NC multifamily investment opportunity presents a unique chance to acquire a well-located apartment building. Situated on a 0.5-acre lot at 3385 US-Hwy 321, this property boasts a prime location on a major thoroughfare between Blowing Rock and Boone, NC, experiencing high daily traffic volume (24,000 vehicles). The building, constructed in the 1950s and renovated in the 2000s, features 3,110 square feet of net rentable space, spread across two stories and encompassing four units. Each unit offers ample space, with a total of six bedrooms across the building. The property includes 20 parking spaces, a significant advantage in this area. Currently, the building is configured in a manner that could easily be converted back to its original use as an apartment building. The property utilizes well water and septic systems, with the owner reporting no issues. This investment is priced at $997,000, or $249,250 per unit, and $320.58 per square foot. The strong rental market in Blowing Rock and Boone, enhanced by the proximity to Appalachian State University (21,000 students), makes this a compelling opportunity for owner-users or investors seeking a solid return. The solid brick veneer construction ensures durability and longevity. This high-country jewel offers significant potential for growth and income generation in a thriving tourist destination.

    Property Features for 3385 Us-321

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,110 SF
    Class
    B
    Lot Size
    21,780 SF

    Building Details

    Year Built/Renovated
    1950/2000
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • Well‑located Blowing Rock, NC multifamily investment opportunity on a 0.5‑acre lot at 3385 US‑Hwy 321.
    • Prime location on a major thoroughfare with high daily traffic (24,000 vehicles) between Blowing Rock and Boone, NC.
    • 3,110 square feet of net rentable space in a two‑story building with four units and six bedrooms.
    • 20 parking spaces.
    • Solid brick veneer construction.
    • $997,000 asking price ($249,250 per unit, $320.58 per square foot).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Blowing Rock
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.6480407
    Latitude
    36.1813923

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    FAQs

    What type of property is this?
    Multifamily property - Blowing Rock, NC apartment building, great potential.
    Where is this multifamily property located?
    The property is located at 3385 Us-321 Blowing Rock, NC.
    What is the asking price?
    The asking price for this property is $997,000.
    What are key features of this property?
    This property features: Well-located Blowing Rock, NC multifamily investment opportunity on a 0.5-acre lot at 3385 US-Hwy 321.; Prime location on a major thoroughfare with high daily traffic (24,000 vehicles) between Blowing Rock and Boone, NC.; 3,110 square feet of net rentable space in a two-story building with four units and six bedrooms.
    Request Owner's contact information
    3385 Us-321 Blowing Rock, NC 28605
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3385 Us-321 Blowing Rock, NC 28605
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