Former Graham city councilman Lee Kimrey has sold his mixed-use property along West Elm Street in downtown Graham – currently home to a taproom, “Little Brothers Brewing Barrel & Bottle,” with an apartment and attached garage in the rear – for $893,500.
Kimrey sold the property to Lisa B. Haradon of 109 North Hassel Street in Hillsborough earlier this fall. The sale price was approximately $101,500 below the original asking price of $995,000, according to documents that have been filed with the Alamance County Register of Deeds’ website consummating the transaction.
Even with the reduced sales price – and seller concessions – there appear to be no other mixed-use properties in downtown Graham that have sold for upwards of $1 million in recent years, according to the local Multiple Listing Service.
Kimrey built the structure in the location of the former Carver’s restaurant, which burned in January 2014.
Kimrey had lived in the second-story apartment with his wife, Mindi Kimrey, for the past several years, after fully rehabbing the 119-year old shell – once home to Carver’s restaurant – that had been had been gutted by fire in January 2014. Carvers on Elm had been a fixture in downtown Graham more than 20 years but reopened in a new location in Burlington following the fire.
The original shell of the building dates back to 1903; rubble and concrete were mostly all that remained after the fire in 2014. Kimrey eventually ended up removing three layers of concrete and “starting from scratch,” he recalled in an earlier interview.
A builder by trade, Kimrey confirmed for The Alamance News when he put the property up for sale last year that he intended build a new home but would stay in the area.
Kimrey said in the earlier interview that he had initially offered first right of refusal to Greensboro-based Little Brothers Brewing, which operates the Barrel & Bottle taproom on the ground floor of Kimrey’s building in the 100 block of West Elm Street, two doors down from the newspaper office.
The owners of the brewing company instead selected a site off Church Street in Greensboro to build an expansion, according to Kimrey, who said that Barrel & Bottle hopes to stay on as a tenant of the new owner.
The property at 104 and 106 West Elm Street, which Kimrey had completely rebuilt throughout by 2018, spans nearly 6,000 square feet (upstairs and downstairs), as well as an attached two-car garage at the rear, on just under a quarter of an acre. It was listed for sale late last year at $995,000 with a commercial real estate firm in Raleigh.
Alamance County tax records list the latest assessed value for the mixed-used property at 106 West Elm Street (described as “residential with commercial”) at $970,215; and the latest assessed value for the land at 104 West Elm Street, is listed at $3,746.