$350,000
About this home
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!**
Property details
- MLS
- Doorify MLS
- MLS #
- 10148505
- Property type
- Hotel/Motel
- Subdivision
- N/A
- Status
- Active
- Days on market
- 235
- On market date
- February 25, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- 20
- Lot size
- 1.181 acres
Location
Get directions →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.
- Enrollment
- 336
- Student:teacher ratio
- 16.0:1
- District
- Vance County Schools
- Enrollment
- 256
- Student:teacher ratio
- 21.3:1
- District
- Vance County Schools
- Enrollment
- 193
- Student:teacher ratio
- 14.8:1
- District
- Vance County Schools
Walkability
Blended score for Henderson's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Henderson, from live MLS data.
Mortgage calculator
Estimate only - actual rate and payment depend on your lender, credit, and loan program.
Adjust tax / insurance estimates
Similar homes you might like
Data source: Listing information provided by Doorify MLS via Trestle/CoreLogic. Last updated September 19, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.