Salisbury ~ The Downtown Series ~ #2: Bernhardt Hardware Store, c. 1882, Salisbury NC

A Valuable Piece of Downtown Americana ~ for Sale with Tax Credits available! ~ The circa 1882 Bernhardt Hardware Store, Salisbury NC ~ $290,000

Bernhardt Hardware at 111 N Main Street, Salisbury NC was always known for having sleds at the ready for the first snow. But the sleds are gone. All the bicycles and little red wagons have been sold. The last tomato plants have been given away. The Bernhardt Hardware Store on Main Street has forever been a downtown Salisbury, North Carolina fixture and a destination for shopping or a social visit. Now the 1882 Bernhardt Hardware Store is for sale and is eligible for Historic Restoration Tax Credits that potentially can cover 40% of restoration costs!

Original Artwork of the Bernhardt Hardware Store by Robert Richard Toth

Main Level ~ side 1

Paul M. Bernhardt moved to Salisbury in the 1860s and started a hardware business that family members continuously operated since that time in downtown Salisbury NC. When Paul Leake Bernhardt, downtown merchant and former mayor of Salisbury, passed away in 2012 at 87, the "Sage of Main Street" (a great storyteller, Bernhardt was frequently called upon for advice and questions about olden times in Salisbury) left the legacy that was Bernhardt Hardware up for new and innovative usage of marvelous retail space. Located at this historic downtown crossroads, Bernhardt Hardware is right on the Main Street Corridor in what is known as “The Square” ~ the 100 block in each direction from the intersection of Main and Innes Streets.

Main Floor ~ side 2

111-115 North Main Street houses the circa 1882 Bernhardt Hardware Store.  Inside this large space, all three of the 25’ wide bays combine into one store with two storefronts. The building has 75’ feet of frontage on Main Street and an equal amount of frontage in the rear that faces the recently improved Central City Lot, providing ample and lit parking.

Second story

The Bernhardt Hardware Store space draws the impression of North Carolina that seems to disappear more quickly with each passing day. So many, in so many places, tear down old buildings and landmarks, replacing them with big-box retailers and corporate arenas large and small, where once stood beautiful, intimate towns and country stores, some owned and operated for generations by the same families. There aren't many left.  In Salisbury North Carolina, however, the preservation instinct is strong, and the downtown is intact with thriving businesses in beautiful nostalgic storefronts.   

Our Vanishing Americana, Lassiter & Grant

The wonderful book, Our Vanishing Americana: A North Carolina Portrait, (http://www.ncamericana.com/) by Mike Lassiter and Lee Grant, takes you on a journey through a treasured museum of life the way it was , helping one to grasp what is left of the passing scene in towns across North Carolina that helped form the state’s heritage.  The Bernhardt Hardware Store, while not featured in this wonderful photographic journal of the disappearing family-owned genre of shops such as hardware stores, general stores, and ‘filling-stations’, could be nestled in the pages of this book…it is just exactly an example of the iconic downtown community oriented shopping space.

Rear Parking

If the prime location alone in the main square of downtown Salisbury is not enough to convince you to purchase this historic Bernhardt Hardware building, a community icon and historic business site, for your retail venture, take a look around the downtown to see the plethora of other businesses that have, in just recent years, flocked to this thriving historic and nostalgic North Carolina downtown.  Restaurants such as The Salty Caper, Uncle Bucks, The Bangkok Downtown, and Gritz are newer establishments nestled alongside older familiars such as Spanky’s Sandwich Shoppe, The Sidewalk Deli, Santo’s Goodfellows, and the SweetMeadow Café.  New entertainment spots are springing up such as Nashville Nights, Go Burrito (with the town’s first rooftop entertainment area!), and Coopers, all thrive with their neighboring Blue VineWine Shop, Benchwarmer’s. A locally owned book store and two locally run coffee houses fill these historic buildings dotted with art galleries, new dress shops, and health food stores.  Your business at the Bernhardt Hardware Store will be in good company in a bustling downtown in central North Carolina!

Downtown Salisbury, North Carolina

The downtown~centric location of the Bernhardt Hardware Store is perfect for a variety of businesses. The location and square footage of the space provides endless possibilities for stores, shops, or any other retail, as well as a great potential space for residential apartments, condominiums, or small boutique style hotels. The downtown location is also perfect for restaurants, bars, and pubs.

This large and spacious building, with over 16,000 square feet, is in need of many upgrades and is therefore only priced at $290,000 in this prime retail location. The first floor alone houses nearly 8,000 square feet of space, the second floor holds over 8,000, and the 500+ square foot mezzanine is a value added space. The owners will consider subdividing in to 2 or 3 buildings.  This property is available for Historic Restoration Tax Credits that amount to as much as 40% of the restoration costs.

The Bernhardt Hardware Store ~ over 16,000 square feet on Main St, Salisbury NC

This is the second installment in Salisbury ~ The Downtown Series highlighting wonderful available real estate in downtown Salisbury North Carolina. Salisbury Real Estate Agent Greg Rapp extends you the invitation to come to Salisbury North Carolina, spend the day, take in the downtown and feel the positive vibe, exemplified in the recently hosted NC Main Street Conference here that sent over 500 visitors home wanting to model their community after Downtown Salisbury NC, and check out this fabulous potential now available at the Bernhardt Hardware Store.  And with the promise of 40% restoration costs covered by Historic Restoration Tax Credits, http://www.hpo.ncdcr.gov/tchome.htm, this is an opportunity you won’t want to miss to snatch up this large Main Street storefront with infinite retail, commercial, or even residential mixed use potential.  Contact Greg at 704.213.6846 to accept his invitation! You won't believe your eyes! . . . . And stay tuned for Salisbury ~ The Downtown Series #3!

Tax Credits for Historic Properties

The State of North Carolina has a program for tax credits for historic preservation and rehabilitation of historic buildings. Here are some highlights of the state tax credit program:

The State offers 30% state tax credits for qualifying rehabilitation /restoration of "non-income producing" historic structures.   20% state tax credits are offered for rehabilitation/restoration of “income producing” historic structures that also qualify for the 20% federal investment tax credit. Combined, these credits can mean a 40% return on costs of a certified rehabilitation of an “income producing” historic building.

Purchasing an historic property as an owner-occupied personal residence in one of Salisbury, North Carolina's TEN Nationally Registered Historic Districts may qualify you for this tax credit!

Key things to note about the state tax credits:

• Only certified historic structures will qualify for the credits. A “certified historic structure" is defined as a building that is listed in the National Register of Historic Places, either individually or as a contributing building in a National Register historic district. In general, these structures are identified in the National Register nomination reports for each of Salisbury’s historic districts. Copies of these reports are on file at the Rowan Public Library.
• The rehabilitation of the historic structure must be substantial. For non-income-producing properties, the rehabilitation expense must exceed $25,000 within a 24 month period. For income-producing properties, the rehabilitation expense must exceed the greater of the "adjusted basis" of the building or $5,000 within a 24 month period or a 60 month period for phased projects.
• All rehabilitation work must meet the Secretary of the Interior's Standards for Rehabilitation.
• Property owners are strongly advised to consult with the State Historic Preservation Office before beginning a rehabilitation to resolve potential design and rehabilitation problems that could result in denial of the credits.
• The credits cannot be claimed against the cost of acquisition, new additions, site work, or personal property. Only costs incurred in work upon or within a historic structure will qualify. Interior work such as HVAC work and kitchen and bathroom remodels will qualify if the work meets "The Secretary of the Interior's Standards for Rehabilitation."

c. 1852 Thomas T Maxwell House

For more information about North Carolina State Tax Credits, contact the State Historic Preservation Office in Raleigh at (919) 807-6585 for “income-producing” properties or (919) 807-6574 for “non-income producing” properties. The North Carolina State Preservation Office website (www.hpo.ncdcr.gov/credits.htm) was the source for much of the information in this fact sheet.

To see the many and beautiful historic homes for sale available now in Salisbury that qualify for the NC Preservation Tax Credit, call Greg Rapp at 704.213.6846 today!

Home Restoration...the Ultimate Recycling.

Why go to the extra trouble, and perhaps additional expense, to restore an older house? Everyone feels guilty throwing a cans or bottles into the trash. We feel better when we recycle! Wouldn’t it be nice if we felt the same responsibility before sending all historic plaster and lath and moldings to the dump? Think of restoration as the ultimate recycling.

Older buildings present a different set of variables and challenges and require a different mindset and approach to their upgrades. Original materials can be hard to find or replace, people experienced in working with historic architecture can be difficult to locate, and working within the framework of something that already exists can be more difficult than building new.

For many, restoring an older home rich with history and character to its original condition is a philosophical value. It feels good to take care of something, to bring something back, or to maintain the historic integrity.  Additionally, saving and preserving can increase property values. There are often tax credits available, and older workmanship and materials are better and stronger than their modern counterparts are. Historic areas attract more visitors creating a thriving community. There are also aesthetic arguments. Turn-of-the-century construction artisans not only built historical homes better, but a restored historical home also looks better than its modern counterpart does.   

If you are a homebuyer considering conducting historic restoration efforts yourself, or if you think you may hire professionals, be sure to research the many options available to resolve issues. Take into serious consideration options that do less damage to the original historic features. What happens on many projects is often more renovation than restoration. Completely gutting an interior for modern systems or removing walls to create open floor plans is not restoration. The essence of restoration is flexibility and creativity.

The general definition of restoration is to save what historic or original features are there and put back lost elements with ones most closely representing what builders of the era might have used.  Often, restoration decisions must be practical. In the home you are considering, there may not be much left to save, or there may be plenty of historic features in place, or hidden behind renovations. Many times, you can complete necessary repairs, and make upgrades to meet current usage requirements and needs, and still sensitively restore your historic home.

It is important to understand the difference between efforts that reflect restoration versus remodeling, rehabilitation, or renovation.  As you make informed decisions, you will find that preserving the historic value is often a more valuable option than replacing elements with something new. Be sure to understand what you may be losing as well as what you may be gaining.

Why go to the extra trouble to restore an older home?  Because restoration is the ultimate recycling effort, and with it you will preserve the architectural integrity of not only the home, but also the neighborhood, and the community.

To have a closer look at historic and other homes for sale in Salisbury and Rowan County North Carolina, contact Greg Rapp at 704.213.6846.  The choice is yours to purchase a fully restored gem or to take on a restoration project of your own.

 

300 W. Horah Street, before and after restoration.  This home is for sale.