1010 S Garnett ST, Henderson, NC 27536
1010 S Garnett ST, Henderson, NC 27536
1010 S Garnett ST, Henderson, NC 27536
1010 S Garnett ST, Henderson, NC 27536
1010 S Garnett ST, Henderson, NC 27536
1010 S Garnett ST, Henderson, NC 27536
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Christopher Weber

Christopher Weber

+1(919) 344-9366
Listed by Ninja Realty
$ 495,000
Est. payment | /mo

13,800 SqFt

Save
$ 495,000
Est. payment | /mo
Save

13,800 SqFt

Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 13,800 sqft

Price per Sqft $35

MLS Listing ID 10148505

HOA Y/N No

Year Built 1949

Annual Tax Amount $4,895

Lot Size 0.317 Acres

Acres 1.18

Lot Dimensions See plats

Property Sub-Type Hotel/Motel

Source Doorify MLS

Land Area 13800

Property Description

HISTORICAL TAX CREDITS AVAILABLE! Redevelopment opportunity at the signalized intersection of S. Garnett Street and Raleigh Road -- one of the busiest and most highly trafficked intersections in the city. The property benefits from strong visibility, direct access to US-1, and proximity to I-85, providing convenient regional connectivity to Raleigh and Durham. Originally constructed in 1949, the property consists of a 25-room former hotel with 4 additional apartment units. Most guest rooms feature private baths, with a limited number configured with shared community baths consistent with traditional mid-century hotel design. A breezeway connects the primary lodging structure to a second building that previously operated as a restaurant. The site spans three parcels totaling approximately 1.181 acres and includes dedicated on-site parking -- a significant advantage for downtown-adjacent redevelopment. The property is currently vacant and requires substantial rehabilitation. No operating financials are available. Offering is well suited for experienced investors or developers seeking a value-add repositioning opportunity. Zoned OIA (Office, Institutional & Residential), the property allows for a flexible mix of potential uses, including: Boutique or flagged hotel redevelopment Office or medical conversion (nearby hospital systems) Multifamily or workforce housing conversion Mixed-use redevelopment Institutional or community use Located within walking distance to downtown and near regional medical facilities. Vance County, home to Kerr Lake, continues to benefit from recreational tourism and regional traffic flow. Property is being sold as-is. **LARGE ANMOUNT OF HISTORICAL TAX CREDITS ARE AVAILABLE IF DEVELOPER MEETS CERTAIN CONDITIONS!**

Location

State NC

County Vance

Area 1.18

Zoning OIA

Interior

Fireplace No

Exterior

Garage Spaces 20.0

Total Parking Spaces 20

Garage No

Building

Water Public

New Construction No

Others

Tax ID 0005 07019 & 0005 07005

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Doorify MLS

NEARBY SCHOOLS & PROPERTIES

Christopher Weber

“My job is to ensure you are setup for success from start to finish!  I'm here to help make magic happen every step of the way......Together we will manifest GREATNESS! ”

+1(919) 344-9366

broker@chrisleadsnc.com

3333 Wrightsville Ave suite G123, Wilmington NC 28403

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1010 S Garnett ST