Circa 1896 Beaux Arts Building in Downtown Salisbury

  • $625,000
125, South Main Street, Red Acres, Salisbury, Rowan County, North Carolina, 28147, United States
For Sale
125, South Main Street, Red Acres, Salisbury, Rowan County, North Carolina, 28147, United States
  • $625,000

Description

Welcome to the prestigious Hedrick Block at 125 South Main Street in downtown Salisbury!

Realtor® Greg Rapp with Salisbury Real Estate presents a special opportunity to own a circa 1896 2-story Beaux Arts building in the historic Hedrick Block and identified on the National Registry of Historic Places. Along a pretty tree-lined stretch of South Main Street in the heart of Salisbury’s vibrant downtown commercial district, you’ll find this attractive brick building with just under 5,000 square feet of space, and exterior lighting that spotlights the beautifully ornate front façade with arched windows, a decorative frieze and window pediment, bordered by beautiful rusticated granite pilasters.

A gift shop for the past fifteen years, this Class-A retail space at 125 S. Main Street offers a deep ground-level floor with slat-wall interior, soaring original tin ceilings, carpeted floors, and a mezzanine overlooking the shop. The front door is deeply inset between large display windows that stream natural light. A separate front door leads to a private staircase to the second story where you’ll find a blank slate ready for conversion to residential living spaces. Here, a huge expanse of original wood floors reflect the light from the arched windows. This story could easily accommodate two upper apartments with the potential for a third apartment located on the first floor rear of the building.  A second egress at the rear staircase brings you back down to the first floor.
The building offers the large front retail space, with two additional rooms for storage, office, or other at the rear.  The buildings single bathroom is additionally in the rear space.
The rear staircase takes you up a half-level to where the mezzanine lies, and here, a small office is between the 1st and 2nd floors.
Abundant parking conveys at the rear of the building – a rare commodity in the downtown – and 2-hour on-street parking surrounds the block on Main Street and adjoining side streets. Located in an Opportunity Zone, 125 S. Main Street is eligible for discounted capital gains tax, Historic Rehabilitation Tax Credits, and City of Salisbury facade grants. Opportunity Zone identifies an area with access to a new program to attract investment capital, created by federal tax legislation (Tax Cuts and Jobs Act (H.R.1), that offers qualified investors certain tax benefits when they invest capital gains into these areas.
Main Street, or US Highway 29, through the downtown district in Salisbury has just undergone Phase 1 of a new streetscaping project: The Downtown Main Street Plan.  Phase 2 planning is underway, creating an exciting and inviting streetscape for visitors, residents, and merchants alike. Many of the historic downtown buildings are experiencing a surge of development: The Bell Block Building (ca. 1898); Alley & Main (ca. 1890); Lofts on Innes (ca. 1882), The Bernhardt Luxury Lofts (ca. 1882), and more ~ all creating new residential opportunities here! You’ll be right on trend when you purchase this charmer, loaded with potential, at 125 S. Main Street!
Shops and businesses within Salisbury’s Municipal Service District (MSD) are supported by Downtown Salisbury, Inc. ~ an accredited Main Street North Carolinaorganization. The Main Street NC program works to stimulate economic development within the context of historic preservation, using a comprehensive approach to downtown revitalization to assist communities across the country. The programs uses a 4-point comprehensive revitalization process designed to improve all aspects of a downtown that includes (1) Organization: Building partnerships and effective management; (2) Promotion: Reestablishing downtown as a compelling place for shoppers and investors; (3) Design: Enhancing the visual quality of the downtown; and (4) Economic Vitality: Strengthening the existing economic assets of the business district while diversifying its economic base.

Details

Property ID
399377
Year Built
1896
Style
Other
Updated on August 4, 2022 at 12:15 pm

Address

  • Address 125 South Main Street
  • City Salisbury
  • State North Carolina
  • Zip/Postal Code 28147
  • Country United States

Contact Agent

Greg Rapp
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