1126 Blowing Rock Rd Boone, NC 28607

This exceptional mixed-use investment opportunity in Boone, North Carolina, presents a compelling value-add proposition. Located on the prime commercial corridor of US Highway 321 (Blowing Rock Road), this property encompasses 13,031 square feet across two buildings, featuring a blend of retail and apartment spaces. The property boasts a 100% occupancy rate with seven tenants, generating a substantial net operating income (NOI) of $148,415, resulting in a 6.90% capitalization rate. The asking price is $2,150,000, translating to $164.99 per square foot. Built in 1978, this multi-tenant property includes a quadruplex, and sits on a 0.897-acre lot zoned B-3 General Business. The property's net rentable area is 8,393 square feet. Three of the seven tenants have 3% annual rent bumps built into their leases. Parcel identification numbers include 2910-23-7697-000, 2910-23-7548-000, and 2910-23-6658-000. Note that portions of the property fall within FEMA Flood Hazard Areas. Showings require prior coordination to avoid disturbing tenants. This property offers a strong cash flow and significant potential for future appreciation. The lease type is gross, and the investment type is value-add.