1794 Poplar Grove Rd

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1794 Poplar Grove Rd

Boone, NC 28607
Asking Price
$2.60M
Asset Type
Multifamily
Class
Class B

What's Special

1794 Poplar Grove Rd is located in Boone, North Carolina, situated within Watauga County. The property occupies a transitional residential-commercial area characterized by rolling terrain and mature landscaping. It is positioned approximately two miles from the Appalachian State University campus and the downtown retail core, providing proximity to local dining, groceries, and medical facilities. The location offers direct access to the regional highway network via Highway 105, facilitating transit throughout the High Country. Frequent municipal bus service serves the immediate corridor, connecting the site to major local employment and activity centers. This multifamily asset is suited for residential redevelopment or continued use as collegiate and workforce housing. Its proximity to the university makes it a viable location for undergraduate and graduate students seeking off-campus living options. Additionally, the site serves the local professional demographic, including university staff and healthcare workers employed at near-by medical centers. The property’s layout and location support high-density residential occupancy, catering to tenants who prioritize proximity to Boone’s educational institutions and primary commercial services.

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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.53%
Monthly Payment
$12,863.381
Annual Cash Flow
$-74,360.577

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