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.

More Info

Basic Information

ForeclosureN
List Price$2,050,000
MLS NumberCAR4044558
MLS StatusActive
Property SubTypeRETAIL CENTER

Interior

Flooring Laminate, Vinyl, Wood

Exterior

Roof Built-Up, Composition, Rubber, Wood

Utilities

Cooling Heat Pump
Heating Central, Forced Air, Heat Pump, Natural Gas
Sewer Public Sewer
Utilities Gas

Tax Information

Taxes$1,083,100

Building

Foundation Details Crawl Space
Square Feet10,851
Year Built2003

Property

Acreage2.22
Parking Spaces80
Water Source City
ZoningCB1

Property Information

Construction Materials Fiber Cement, Hard Stucco, Stone
Inclusions Fixtures, Land
Net Operating Income $129,348

Location

Building Number8
CountyBuncombe
Cross Street New Haw Creek
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 .
StateNC
StreetBeverly Road
Zip28805

Legal

Parcel Number 965888274400000

Other

View Count15

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8 Beverly RoadAsheville, NC 28805Price: $2,050,000

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