8 Beverly Road, Asheville, NC

$2,050,000

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2.22

Acres

About 8 Beverly Road

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.

Features of 8 Beverly Road

MLS® # 4044558
Price $2,050,000
Bathrooms 0.00
Acres 2.22
Year Built 2003
Type Commercial Sale
Sub-Type Retail Center
Status Active

Community Information

Address 8 Beverly Road
City Asheville
County Buncombe
State NC
Zip Code 28805

Amenities

Utilities Gas
Parking Spaces 80
Garages Parking Lot
Is Waterfront No
Has Pool No

Interior

Heating Central, Forced Air, Heat Pump, Natural Gas
Cooling Heat Pump
Fireplace No
Has Basement No

Exterior

Lot Description Level
Roof Built-Up, Composition, Rubber, Wood
Construction Fiber Cement, Hard Stucco, Stone

Additional Information

Date Listed June 28th, 2023
Days on Market 223
Zoning CB1
Foreclosure No
Short Sale No

Listing Details

OfficeBuncombe Realty

Listing Map

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