$465,000

About this home

PRICE REDUCED! Now $31,500 Below Assessed Value! Instant Equity from Day One. This turnkey commercial/multifamily property presents an outstanding investment opportunity with immediate income potential. With established leases already in place, you'll benefit from cash flow from day one while building long-term equity. Ideally located in the heart of Gilmanton, directly across from the town offices and local businesses, 518 Province Road offers outstanding visibility, convenience, and strong rental appeal. The property features three separately metered units, creating multiple income streams and added flexibility. The commercial unit is home to a charming country store and features beautiful wood floors, an oversized walk-in refrigerator, and a newly renovated bathroom. The second unit is a spacious two-bedroom, two-level apartment with two bathrooms, an additional bonus room, a private deck, and a beautifully landscaped backyard retreat. This unit is occupied by long-term tenants. The third unit is a one-bedroom, open-concept apartment with a ¾ bath and a private deck and is currently owner-occupied. Both residential units include their own private laundry. Extensive updates have already been completed, including a new roof, updated plumbing, electrical, drywall, and insulation in the commercial space and second-floor apartment. Additional improvements include a new water pump, pressure tank, and hot water heater, along with a newer water filtration system installed in 2024, providing peace of mind and reducing future maintenance costs. Whether you're looking to expand your investment portfolio or occupy one unit while generating rental income from the others, this well-maintained mixed-use property offers strong cash flow, significant recent capital improvements, and excellent long-term investment potential. Proof of funds or lender pre-approval is required prior to scheduling a showing.

Property details

MLS #

5100564

Property type

Commercial Sale

Subdivision

N/A

Status

Active

Days on market

25

On market date

N/A

Stories

N/A

Total bathrooms

N/A

Garage spaces

N/A

Parking spaces

N/A

Lot size

0.44 acres

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).