49 Mate Street, Matewan, WV 25678
sale
$599,900
|
Commercial-Other
Listed By CENTURY 21 Homes and Land Real Estate, Inc.
Nestled in the heart of the picturesque town of Matewan, WV, on the banks of the Tug Fork river, this historic Buffalo Mountain Inn is an income producing property offering a rare opportunity to own a piece of small town USA. Built in the 1920s and expanded throughout that century, this unique property features a blend of old-world charm and modern amenities. The rubber roof was replaced in 2017 and the interior has been constantly upgraded since.
It currently consists of eight fully furnished rental units, each with its own bathroom, and several common areas for relaxing, cooking, or entertaining. Their main clientele consists of tourists who are in town to enjoy the hundreds of miles of ATV trails, both the Hatfield and McCoy trails of West Virginia and the outlaw trails of Kentucky, but they also host large groups who come to town for work or families in town for reunions or just to vacation.
In addition to the rental units, the property also features a rentable commercial office space, which was most recently a dentist's office. This space could be used as a management office for the business or rented separately. There is also a two bedroom apartment and plans to convert it to the 9th and 10th rental units.
Outside, the property offers ample parking for tenants and guests, and a private oasis in the rear for relaxation and telling stories by the fire pit. Situated in the heart of Matewan, the property is just steps away from local shops, restaurants, and right across the street from the Hatfield and McCoy trailhead, ensuring a steady stream of renters and visitors. Just across the bridge is McCarr, KY with its own shops and restaurants.
With its rich history and prime location, this income producing property in Matewan, WV, is a truly unique opportunity for those looking to invest in a piece of local history while generating consistent rental income. Approximately half of the building, the former Matewan Hospital, could still be renovated and may qualify for grants and historic tax credits to aid in the process. Don't miss this opportunity to run your own hospitality and tourism business.
It currently consists of eight fully furnished rental units, each with its own bathroom, and several common areas for relaxing, cooking, or entertaining. Their main clientele consists of tourists who are in town to enjoy the hundreds of miles of ATV trails, both the Hatfield and McCoy trails of West Virginia and the outlaw trails of Kentucky, but they also host large groups who come to town for work or families in town for reunions or just to vacation.
In addition to the rental units, the property also features a rentable commercial office space, which was most recently a dentist's office. This space could be used as a management office for the business or rented separately. There is also a two bedroom apartment and plans to convert it to the 9th and 10th rental units.
Outside, the property offers ample parking for tenants and guests, and a private oasis in the rear for relaxation and telling stories by the fire pit. Situated in the heart of Matewan, the property is just steps away from local shops, restaurants, and right across the street from the Hatfield and McCoy trailhead, ensuring a steady stream of renters and visitors. Just across the bridge is McCarr, KY with its own shops and restaurants.
With its rich history and prime location, this income producing property in Matewan, WV, is a truly unique opportunity for those looking to invest in a piece of local history while generating consistent rental income. Approximately half of the building, the former Matewan Hospital, could still be renovated and may qualify for grants and historic tax credits to aid in the process. Don't miss this opportunity to run your own hospitality and tourism business.
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Property Features
- Age: Over 50 Years Old
- Basement: Full
- Building Area: 17274.00 SF
- Cooling: Central A/C
- Cross Docks: N
- Exterior Description: Brick
- Fencing: Wood Fence
- For Auction: N
- Heating - Fuel Type: Electric
- Lot Size Desc: Under 1/2 Acre
- Lot Size In Text: 0.21 Acres
- MLSID: 175972
- Parking Places: 16
- Price Upon Request: N
- Road Type: City / Town Street
- Roof: Rubber
- Sewer: City
- Style: Other Style
- Sublease: N
- Tax Year: 2022
- Taxes: $2517.00
- Water: City Water
- Year Built: 1925
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