Welcome!
The Waverly is definitely a nice place. Its location is a bit odd as it's bordered by a couple busy streets. But, well located for what you are looking to do.
Craft shops? Our Main Street is just a couple blocks from the Waverly is full of them. You can even wave at me as you walk by; my office is right in the middle of Main street.
If you need to source your own breakfast some morning,
https://www.honeyandsaltnc.com/
Best BBQ in the state is at
http://www.hubbahubbasmokehouse.com/
Both of those are proximate to the Flat Rock Theater.
The Sierra Nevada complex is just a cool place to check out for dinner, drinks on the lawn, or a free concert.
We have some very good choices for eats right here on Main street as well. To be honest, we also have some real duds that get unfairly positive reviews. Let me know what you're into and I'll steer you right. i.e. breweries, nightcaps, fine dining, just good food.
Hikes are abundant.
If you haven't been to the area, Dupont State Forest and the Triple Falls area is a must see. It will be crowded. If you're asking about 2-5 hour hikes and not a "300ft from the parking lot" hike, then I'd suggest coming into the Triple Falls area from the backside of the property, look up Guillon Farm parking area. You'll get a nice easy walk through the forest and come up on the falls from the other side of the crowd.
One of our favorite hikes is Ivestor Gap to Tenent Mountain. This is in the Black Balsam area off the Parkway, ~1 hour drive from your B&B. You'll hear people talk about Graveyard Fields as the high meadow hike to take...Tenent Mountain is the same views and topography with a much more chill crowd. Awesome views, not a difficult hike at all.
That time of year, there really is no way to completely avoid the crowds unless you truly want to get off the trail. I can give you some day hike spots that tend to follow river gorges, not mountain views if that's your speed.