8 Beverly Road
Asheville, North Carolina, 28805, United States
10,851 ft²
2.22 acres
- beds
- baths
Property Provided By
- Kevin Wei
- Buncombe Realty
- +1 (828) 301-2021
Connect with local buyer agents who are willing to offer commission savings!
Property Information
Great location very near Asheville Mall. A business/community center, Haw Creek' little town with rich long history and culture as fondly storied in Asheville Citizen-Time (4/14/2002), this big property with 2.22 acres is home to a well established and liked restaurant, coffee shop, childcare center, and beer and wine shop. Very few businesses in Asheville have so much community feel, parking AND play spaces etc. Right across its big parking lot is a city park - Haw Creek Park. Very reliable cash cow and equity buildup year after year. Total net rent income is $129,348/yr, which translates to a ~$2.15 million property price based on the commonly used 6% CAP rate. It would be about $2.6 million based on building square footage (10,851 SF x $240/SF = $2.6 m) or comparable sales. In addition, one may wish to build some offices, apartments on the back portion of the big parking lot in the future and add more value.
Directions
From downtown Asheville or Asheville Mall, take Tunnel Rd going east, cross I240 and turn left on the first street on left and immediately right on New Haw Creek Rd, on the second street on right, turn right on Beverly Rd, property is first on left. There are plenty of parking spaces in its big parking lot 120' ahead on left .
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Property Provided By
- Kevin Wei
- Buncombe Realty
- +1 (828) 301-2021
Connect with local buyer agents who are willing to offer commission savings!
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