530 Key StPilot Mountain, NC 27041

This exceptional investment opportunity presents the Nunn Building, a historic mixed-use property located in the heart of downtown Pilot Mountain, North Carolina. This 5,136 square foot building, constructed in 1954 and renovated in 1990, sits on a 0.441-acre lot and is zoned GB - General Business. The property boasts a strong 7.24% cap rate and a current NOI of $21,000, with a 100% occupancy rate. The building comprises three units: two upper-level vacation rentals and one lower-level apartment, all currently leased. The lower-level apartment has a long-term tenant interested in remaining. The asking price is $289,900, translating to $56.44 per square foot and $96,633.33 per key. This stabilized investment offers immediate cash flow with potential for increased revenue through upgrades to the vacation rental units. The building features a total of three keys, and the property is classified as Class C with a Modified lease type. The property's multi-tenant occupancy consists of three tenants, with no credit rating information available. This is a rare opportunity to acquire a well-located, income-producing property in a desirable North Carolina town. The property's address is 530 S Key St, Pilot Mountain, NC 27041. The APN is 596619509849.