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    OFF-MARKET
    Retail space

    31 Mitchell Ave, Bakersville, NC 28705-6502

    612 SF 0.03 ac lot Built 1924
    Entity Owned 7-yr Hold ~ Est. High Equity
    Property ID
    US53-4218933
    Property summary
    AI-generated overview

    This delightful cafe, located at 31 N Mitchell Avenue in the heart of Bakersville, NC, presents a unique investment opportunity. Currently operating as the Southern Ridge Cafe, this property boasts undeniable small-town Appalachian charm. Its prime downtown location offers exceptional visibility and accessibility, situated just steps from a scenic creek walk. Completely renovated in 2018, the building features updated electrical and plumbing systems, ensuring modern functionality. The versatile space is ideally suited for a cafe, coffee shop, or bakery, capitalizing on the thriving tourism in this picturesque mountain town. Bakersville's vibrant community calendar includes popular events such as the Rhododendron Festival, the NC Mountaineer & Apple Butter Festival, and a charming Christmas parade, guaranteeing a steady stream of potential customers. The property offers a rare chance to own a well-established business in a desirable location, with significant upside potential for growth and expansion. The building itself is ready for immediate occupancy, minimizing start-up costs and maximizing return on investment. This is an exceptional opportunity to own a piece of Bakersville's rich history and vibrant future. The asking price is $169,900. The lot size is 0 acres. The property type is listed as "Other".

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1924
    Construction TYPE NOT SPECIFIED
    Total area 612 SF
    Lot 0.03 ac (1,307 SF)
    APN 0863-07-69-1307
    UPID US53-4218933
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Southern Ridge Cafe INC Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Southern Ridge Cafe INC · 7 yrs held
    Southern Ridge Cafe INC
    since 2018
    2 recorded transactions
    2018
    $75,000
    2018
    $47,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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