September 11, 2024

Elegant Executive 1927 Home - Exquisitely Renovated - FOR SALE

10/9/2024: Editor's Update! New Price:  $599,000


After two and a half years of renovating - the restoration is finally completed! 

Welcome to 300 West Thomas Street in the prestigious West Square Historic District of Salisbury, North Carolina.  

This stately all-brick American Foursquare had suffered 40 years of neglect and was slated for demolition. Not only saved from the wrecking ball, the current owner preserved, stabilized, restored, and renovated this vintage gem in one of Salisbury's more prestigious neighborhoods: The Historic West Square.  The results are outstanding!  Let Greg Rapp with Salisbury Real Estate LLC show you luxury modern living with history and class in this spotless timeless home!




Step inside 300 W. Thomas Street to discover a labor of love, where every room whispers tales of carefully curated renovations. Constructed in 1927, this 3,364-square-foot home wears its history with grace while bringing its new owners all the modern conveniences. 


The House

This elegant circa 1927 home has been thoroughly renovated with careful attention to detail and sensitive updates that offer modern conveniences while respecting the historic nature of this grand home. Stepping through the front door with its beveled glass windows, the cozy entry opens to a surprisingly large great room with plenty of room for seating areas and that 8-ft sofa you love and all of the accompaniments, ensuring you can live and entertain with elegance. Here, the home's original fireplace (non-functioning) boasts its original Arts & Crafts style brick surround and mantel. Window arrays, with a unique 9-over-one pane pattern original to the house, flood the great room with natural light.  Through beautiful French doors, you will find more of these wonderful light-filled windows in the spacious formal dining room. 





You will immediately note the luxurious, luminous light floors! These are the home's original oak floors, and while many homes of this era feature darkly stained wood flooring - here, this uplifting neutral aesthetic was achieved by a bleaching process, sealed with a satin polyurethane to a soft glow. The effect is so calming and uplifting!




Wait until you see the incredible top-to-bottom newly installed kitchen! This custom kitchen sparkles with a white tile backsplash, a plethora of new custom cabinetry,  unique quartz countertops, and elegantly appointed with a dual-fuel stove, wine fridge, and separate beverage fridge, and beautiful farmhouse sink. Above the sink, as pair of handsome leaded, beveled antique glass windows have been added to the lower sashes of each window.  The tile backsplash above the stove features our favorite thing EVER . . a built-in pot filler! YES! A pretty bleached pine floor continues here, but laid on the diagonal to set it apart from the living/dining rooms.





But wait, there is more!

When the original rear abutment was removed, it was replaced with a much larger addition that offered the space for the first-floor half-bath, beyond which you will find the main-floor owners' suite in the newly constructed rear 3-story wing, overlooking the backyard. The suite includes a new laundry room, a huge walk-in closet, and a gorgeous new designer bath, elegantly appointed with Carrera marble flooring, marble wall tiles, and marble vanity. WOW!






Upstairs, you'll find three (3) more beautiful bedrooms. The rear bedroom includes a wonderful sleeping porch that overlooks the backyard and could be utilized as a dressing room, playroom, sunroom, or office. The full bath here features the original classic 1920’s black and white tile - in perfect condition despite 40 years of neglect. A good power wash brought it back to its original beauty.  The new, black, 30” marble-topped vanity perfectly complements the white tile and the original DEEP white bathtub. 







So. . . you might think that now you have seen the entire house.  But another surprise awaits!  Downstairs, an astounding new basement-level expanded living area turns this house from ordinary to extraordinary! Over 970 square feet with three freshly fully-finished basement rooms expand your heated/cooled living!  




A cozy media room at the bottom of the stairs steps up through a geometrically arched doorway to an intermediate bonus room . . . storage? more living area? . . . you decide!
  



This room opens to a HUGE walk-out recreation room where windows on three sides stream with natural daylight. 




Each of the lower-level rooms offers glistening epoxy floors. An additional unfinished room houses the home's mechanicals. This fully rebuilt and expanded rear 3-story addition features a metal roof and is supported by an array of new helical piers.  


History


300 W. Thomas Street
is the first of a row of five almost identical houses built in 1927 by Walter F. McCanless, a son of prominent Salisbury businessman Napoleon Bonaparte McCanless, who purchased the land along the north side of W. Thomas Street and built these dwellings as investment houses. This house was sold to prosperous lumber dealer E.A. Goodman in 1934. Goodman used it as a rental house before selling it to Victor H. Yost in 1937. Yost, assistant manager and later vice-president of the Belk-Harry Store, occupied the house until his death and his widow occupied it for many years after his passing. The home is listed in the National Register of Historic Places under the Salisbury Historic District Extension. 






In recent years, the home had fallen into disrepair...most remarkably, the original 3-story rear abutment was in imminent danger of falling off the house. This abutment was removed, and a new and expanded addition was built that provides the space for the amazing basement rooms, the 1st-floor owners' suite, and the pretty 2nd-floor sunroom. 





Details

This brick home features the typical rectangular shape and hipped roof of the American Foursquare style with a central dormer so popular in this part of the district. The main roof is covered in its original terra cotta ceramic tile. The front porch with its metal roof, supported by impressive wooden piers, stretches across the facade to form a porte cochère over the circular drive. The newly erected addition at the rear, supported below grade with new 40' helical piers, sports a metal roof.  The home has undergone an entirely new whole-house rewire, new plumbing, and new HVAC systems. The terra cotta tile roof on the main portion of the home is original.

Location

This lovely historic home has been fully renovated, blending restored original details with amazing updates. But should you choose to make exterior changes, this property is supported by the City of Salisbury's Historic Preservation Grants, an annual grant program that provides fiscal assistance to preserving and maintaining homes and structures within the locally designated historic districts. The city's Historic Preservation Commission oversees major exterior changes through a COA (Certificate of Appropriateness) application program.

A timeless tale of love is felt throughout this graceful historic American Foursquare with remarkable detailing. 300 W. Thomas Street is a fully updated executive-level home in a prime location, just blocks from the city of Salisbury's vibrant downtown with restaurants, unique shopping, a microbrewery, community theatre, and a $3M publicly funded central park. The West Square Historic District is known for its walkability, its tree-lined sidewalks, and its inventory of beautiful historic homes dating from the 1820s through the 1930s. Salisbury is within an hour's drive of the larger metro areas of Charlotte, Winston-Salem, and Greensboro, but without the traffic and high costs!


Your New Home

This exquisitely renovated circa 1927 home is a must-see! Call Greg Rapp with Salisbury Real Estate LLC to picture yourself in your new home at 300 W. Thomas Street in Salisbury, North Carolina. Your personal tour with the area's premier real estate agents specializing in historic properties is waiting: 704.213.6846.





300 W Thomas Street
Salisbury, North Carolina 28144 
MLS#4178179 
$615,000
$599,000








Greg Rapp 

Salisbury Real Estate LLC 
704 213 6846 Mobile 
GregRappRealtor@gmail.com 
www.realestatesalisbury.net 






August 04, 2024

Cozy 1914 Bungalow Cottage ~ Newly Renovated ~ FOR SALE!

This vintage bungalow?  Yes, please!  This newly renovated circa 1914 cottage is just as cute as a button! And at just $169,000 ~ it's priced just right! Let Realtor® Greg Rapp with Salisbury Real Estate LLC show you this adorable 854 square-foot cottage that offers compact living charm but with that vintage character and quality not found in newly built houses!  

Welcome to 904 S. Salisbury Avenue in historic Spencer, North Carolina! This charming 2-bedroom home sits on an elevated lot across the street from the wonderful North Carolina Transportation Museum.  



When you walk up the staircase from the sidewalk, a spacious 8'x26' front porch greets you. You can just picture a porch swing and rocking chairs for those warm fall evenings!  Then, step into your beautiful living room with gorgeous original hardwood floors refinished and polished to a gleam, and original wood wainscoting, a signature component of the 1900s bungalow style. Soaring ceilings and large windows make the home feel open and airy.  The living room's focal point is the original 1914 coal-burning fireplace (non-operating) with its beautifully maintained original mantel and tile surround. The sweetest little coat closet features a small beveled glass window atop its door.



You will find the eat-in kitchen right off the living room ~ totally modernized with new cabinetry, granite countertops, and a pretty white subway-tile backsplash.  An array of large double windows, some that still retain their 1900s wavy glass, beautifully stream natural light into the kitchen as in all the other living spaces. The kitchen is equipped with an electric stove, refrigerator, and dishwasher.





The two bedrooms to the rear of the home are separated by a brand new Jack & Jill bathroom in between with a pretty tiled walk-in shower! A darling laundry/utility room with a doorway to the side walkway will accommodate an apartment-size washer/dryer.
  




This all-electric home offers a new HVAC system with heat pump.  The exterior is sheathed in vinyl siding (low maintenance!), the roof is approximately 6 years old, and all the exterior trim is freshly painted.  The interior is all freshly painted as well!

904 S. Salisbury Avenue offers a newly graveled parking area at the front, while a deep stretch of rear yard lined by a backdrop of trees provides loads of room for outdoor activities.



The tiny house movement is a growing trend, and although tiny houses are typically defined as 400 square feet or less ~ at over 800 square feet ~ 904 S. Salisbury Avenue is not truly a 'tiny home' but still offers a minimalist lifestyle with the potential for mobility and a reduced environmental footprint. Living in a compact house can significantly reduce living expenses, with lower utility bills and maintenance costs. Additionally, smaller houses often lead to lower property taxes due to their reduced size and value compared to larger homes. The fiscal benefits of tiny house living can lead to a more flexible and less stressful lifestyle, with more control over your financial future.




904 S. Salisbury Avenue is located just a few blocks from the Town of Spencer's Historic Downtown with delightful restaurants, shopping, the beautiful Library Park, and an awesome community garden.  Just down the main road is the City of Salisbury's vibrant downtown with nightlife, theater, microbrewery, more unique shops and dining, and the beautiful Bell Tower Green that hosts a variety of community events. 

S. Salisbury Avenue is also State Highway 29, the original road to Charlotte before the interstate system became the preferred route.  It is the main corridor from the north, through the Town of Spencer, into Salisbury, and beyond south to Concord and Charlotte.  While this road can at times be a busy route, 904 S. Salisbury Avenue is separated from the hub-bub by its elevation, the tiered retaining wall at the sidewalk, and its allée of a trio of flowering dogwood trees that provide privacy, beauty, and shade!  The advantage of this address is its proximity to EVERYTHING ~ a short hop to fun activities in Spencer and Salisbury, a short drive to High Rock Lake, and the greater metro areas of Charlotte, Greensboro, and Winston-Salem are an hour's drive away!

This wonderful updated little 110-year-old cottage is turn-key and ready for your personal touches!  Call Greg Rapp at 704.213.6846 to see this 'tiny home' in person and see how amazing small-space living can be!


904 S Salisbury Avenue 
Spencer, North Carolina 28159-2015 
List $169,000 
MLS#:4167472










Greg Rapp Realtor®

Salisbury Real Estate LLC 
704.213.6846 (Mobile) 
GregRappRealtor@gmail.com 
www.realestatesalisbury.net 






January 29, 2024

Golden Opportunity: Fully Restored Commercial/Residential Building in Historic Downtown - Seven Lease Units - FOR SALE with Greg Rapp / SRE

107-117 E. Innes Street, Salisbury NC FOR SALE with Salisbury Real Estate LLC

When Salisbury, North Carolina was laid out into 112 lots as the county seat in 1753, it was divided into four quadrants by the intersection of the primary axis, now known as The Square: Innes and Main Streets. With this, the town plan of Salisbury was clarified into a grid system that remains largely unaltered today.




Welcome to 107-117 East Innes Street in the center of downtown Salisbury, North Carolina.  Built circa 1890-1910, this prominent 2-story commercial building with paired arched windows along the second level and stepped false front gable is located on The Square in downtown . . . the intersection of the two primary corridors: Innes Street and Main Street. 

'The two-story brick structure is divided into two buildings by pilasters in a contrasting color. The main facade of each building is dramatized by the arcade-like window arrangement of the second story, which culminates in a robustly shaped gable false front pierced by a louvered roundel vent. The appearance of the shaped gables emphasizes the popularity of the Mission style in early twentieth century Salisbury. The fine example of the style is in the structure at 107-117 East Innes.'






Today, 107-117 East Innes Street is host to a bakery/coffee house, two retail establishments at the main level, and 4 residential units in the second story. The facade is nearly unchanged from its circa 1890 roots. Today, 107-117 East Innes Street is FOR SALE with Realtor® Greg Rapp with Salisbury Real Estate LLC.

Prime Location

The location of this wonderful investment building could not be better.  Not only is it in the center of the Downtown Historic District ~ centrally located amid a variety of successful shops, restaurants, services ~ but East Innes Street is one of higher if not highest high traffic and visibility areas in Salisbury:
  • NCDOT average daily traffic count 18,000.
  • 1-mile off Exit 76/Interstate-85.
  • Landmark Historic Amtrak Station 3-block proximity
  • $13M Bell Tower Green central-city park 1.5-block proximity
  • Within the Salisbury Downtown Historic District | National Register of Historic Places




Property information
  • Circa 1900s ~ restored and rejuvenated per National Park Service Historic Guidelines
  • Stand-alone building surrounded by city sidewalk at front and alleyways at east, west, and south elevations.
  • Two brick structures (approximately 40 x70 and each) divided by contrasting brick and granite block pilasters.
  • Main facade has array of (6) pairs of tall arched windows and two decorative gabled pediments.
  • (7) Lease Units (11,138 s.f. total): (1) Restaurant | (2) Retail | (4) Upper Residential
  • ADA accessible ramps at front elevation of each structure.


Restaurant Space

The largest of the main level commercial spaces is configured for restaurant and is currently a coffee shop bakery. It has been home to a very successful Smoke Pit Restaurant and others.
  • Approximately 2,800 s.f.
  • Two Walk-In Coolers
  • Hood with 3-Fans
  • Back-Flow Prevention & Grease Traps all in place


Retail Space

Two (2) retail spaces share the second structure main level ~ each at approximately 1400 s.f.

The entrance to each retail space is set back and enclosed in a small vestibule with pretty inlaid wood floor.






Lease Information

With seven lease units, income and expenses are approximately:

· Projected 2024 Gross monthly income: $13,028
· Projected Yearly Gross Income: $156,336
· Total operating expenses (approximately): $24,868
· Projected Net Income: $131,468

[Contact Greg Rapp | Salisbury Real Estate for rent roll information.]

Sample Cap rates
  • 5% Vacancy Rate approx. 6.59 Cap Rate
  • 10% Vacancy Rate approx. 6.18% Cap Rate
  • All leases currently have step-leases or 3% yearly increase.

LOCATION ~ LOCATION

Rowan County’s strategic location in the growing Charlotte, North Carolina metropolitan region, its robust talent pool and workforce, and its wide range of affordable and flexible commercial real estate options make it a prime location.

Rowan County is a diversified economy with a wide range of industries comprising its employment base. The largest sectors of employment are health care services (16.1%), manufacturing (15.4%) and retail trade (13.2%).




At nearly 2,500 businesses strong and growing, Rowan County is home to many Fortune 500 and international companies, including: 
  • Ahold Delhaize Food Lion.......3600             Distribution/Retail 
  • Rowan Salisbury Schools.......2610              Education 
  • VA Medical Center..................2250              Health Services  
  • Daimler...................................1685              Manufacturing 
  • Novant Medical Center...........1560              Medical Services 
  • Chewy.....................................1350              Distribution/Warehousing 
  • Rowan-Cabarrus Community College......900           Education 
  • Rowan County..........................849              Municipal Government 
  • Gildan.......................................550              Manufacturing 
  • Teijin Automotive......................505              Manufacturing 
Historic Preservation in Salisbury

Salisbury has five Local Historic Districts. Local Historic Districts are specially-zoned groups of properties that are historically and culturally similar. 107-117 E. Innes Street is within the Salisbury Downtown Historic District, and the first designated district in the city, a designation designed to protect the stock of vintage buildings located here that date from circa 1830s to early 1900s.




Exterior changes to any structures within the historic districts must adhere to the Historic Preservation Design Standards. The Design Standards specify what changes are appropriate for the style and time period of the property and incompatible modifications are discouraged. Properties within the local historic districts are also required to receive a Certificate of Appropriateness before starting any exterior work, a very specific document covering potential changes to exteriors that is designed to help protect the historic character of buildings, streetscapes, and landscapes, and help to encourage reinvestment.

City of Salisbury Grant Opportunities



The City of Salisbury makes grant programs available for exterior repairs and beautification, business development, and for historic preservation to those structures within the local historic districts. These grants are a type of financial aid that does not need to be repaid. Grants available to 107-117 E. Innes are:

https://SalisburyNC.gov/Government/Planning-and-Neighborhoods/Grants-and-Incentives
  • Innes Street Incentive Grant
  • Municipal Service District Grant
The Innes Street Incentive Grant assists property and business owners within the Innes Street Improvement District. The MSD Incentive Grant assists property and business owners within the Downtown Municipal Service District.  These grants assist property and business owners with enhancements to facades, landscapes, driveways, and parking lots.
 
Projects can range from minor repairs and repainting to substantial façade and landscape rehabilitation.
Projects such as the installation of new pedestrian amenities (outdoor seating, planters, awnings, café fences, lighting) are also eligible.

The grants are awarded by the Salisbury Community Appearance Commission (CAC) as funds are available and are awarded on a 50/50 matching basis with a maximum City participation of $5,000.00 per project. Each is a reimbursement grant. Funds are issued at project completion after final inspection and approval of the project. All proposed projects must be reviewed and approved by the CAC before any work has begun in order to be eligible for the grant.




A Golden Opportunity

Opportunities to purchase a fully restored historic building with high visibility and traffic count, a solid rent history in downtown Salisbury, and a central location off Interstate-85 between the three greater metro areas of Charlotte, Greensboro, and Winston-Salem do not come along every day. It is seldom that ownership of a commercial building of this caliber turns over.  To say this is a 'golden opportunity' is an understatement.

Contact Greg Rapp | Salisbury Real Estate  - 704.213.6846 - to discuss details.  Showings, due to thriving businesses and respect for private residential tenants, will be scheduled on a priority basis and by advance appointment.  

Greg Rapp | Salisbury Real Estate LLC is the area's premier real estate broker and agency for historic and vintage properties, whether commercial or residential. With an impressive sales portfolio of historic downtown buildings in Salisbury, Greg knows the ropes and the intricacies when it comes to real estate transactions of this nature. Call 704.213.6846 today.



107-117 East Innes Street
Salisbury, NC 28144
$1,875,000 
MLS#4100938








Greg Rapp 

Salisbury Real Estate LLC 
704 213 6846 Mobile 
GregRappRealtor@gmail.com 
www.realestatesalisbury.net