127 W Main St
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127 W Main St
8,026 SF 100% Leased Retail Building Burnsville, NC 28714 £665,805 (£83/SF) 5.47% Net Initial Yield
Investment Highlights
- Extensively remodeled historic commercial building.
- Located in the heart of Downtown Burnsville.
- Stabilized by multiple local and regional vendors.
- Currently bustling vintage market & antique mall.
- Potential to be converted to partial restaurant.
- Located in an emerging market, poised for growth.
Executive Summary
Location, space, and potential await you in the bustling Downtown Burnsville Commercial District? Look no further than the Vintage Lamp Post Market, an outstanding property boasting an unbeatable location in the heart of downtown. This is a house within a house! The original 1900s Victorian doctor's office and residence still stands within a mid 1950s frame and brick addition, and the whole interior of the property has been thoughtfully transformed into a charming retail center, featuring local and regional vintage crafts and antiques. In addition, there is a studio apartment in the rear of the building with excellent STR potential, as well as a detached garage. Lease Breakdown:
Lamp Post - $1,800/mo
Sawmill - $2,500'mo
Residential unit - $850/mo
Occupancy included 2 commercial leases and 1 residential lease.
Lamp Post - $1,800/mo
Sawmill - $2,500'mo
Residential unit - $850/mo
Occupancy included 2 commercial leases and 1 residential lease.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,026 SF
Building Class
B
Year Built/Renovated
1918/2023
Price
£665,805
Price Per SF
£83
Net Initial Yield
5.47%
NOI
£36,420
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
1.23
Lot Size
0.15 AC
Zoning
C-1 - Commercial District
Frontage
80 ft on Main Street
Amenities
- Corner Lot
- Signage
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 082013244825.000 | Improvements Assessment | £253,398 |
| Land Assessment | £55,223 | Total Assessment | £308,620 |
PROPERTY TAXES
Parcel Number
082013244825.000
Land Assessment
£55,223
Improvements Assessment
£253,398
Total Assessment
£308,620
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127 W Main St
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