Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    159 Connaheta Ave Andrews, NC 28901

    Sponsored
    For Sale
    $199,800

    Commercial - ANDREWS, NC

    Property size:
    2,452 SF
    Lot size:
    0.62 Acres
    Days on Market:
    38
    Last Refresh:
    Jan 19 at 9:06 pm

    Property Features for 159 Connaheta Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Single Family
    Exterior features
    Other
    Size
    2,452 SF
    Lot size
    0.62 Acres

    Utilities

    Heating system
    Other (Heating)
    Cooling system
    Other (Cooling)

    Building Details

    Year built
    2001
    Flooring type
    Carpet, Vinyl
    Building materials
    Other
    Roof type
    Aluminum
    Architectural style
    Other

    We can help!

    Listing Contact
    Old Town Team

    Olde Town Brokers (404) 217-2724 [email protected]

    Listing agent Old Town Team (828) 321-5516

    Listing date Dec 13, 2025

    MLS# 154227 Listing URL

    Copyright © 2026 Mountain Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Stabilized Mobile Home Community Investment

    This stabilized manufactured home community is located in Andrews, NC, minutes from downtown and its amenities, 100 miles west of Asheville, NC, and 125 miles northeast of Atlanta, GA. The property is positioned within a manufactured home subdivision and contains 4 rental lots, consisting of 3 mobile homes and one 24x24 storage building, providing 4 discrete income-producing units. The property is ideal for long-term housing investors. Two of the homes were manufactured in 2001, and the other is older. All three homes have been upgraded to insulated roof panels for energy efficiency. The property generates $3750.00 per month, including $300.00 per month from the storage building, totaling $45,000.00 annually. The tenants are responsible for power, water, and internet. The privately maintained driveways are paved/gravel and in average condition. The property, with a lot size of 0.62 acres, is zoned for single-family use. The property is being offered as a stabilized investment, with roughly a 20% CAP at full occupancy and with all properties rented based on current rent rates. Andrews is currently undergoing a strong growth period.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Building Supply Clothing Store Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Andrews
    County
    Cherokee
    State
    North Carolina
    Longitude
    -83.8298104
    Latitude
    35.1958417

    Nearby Similar for Sale

    • $375,000
      1,215 SF

      Andrews NC Income Property

      Charming property with main house and two cabin homes.
      29/33/49 Breedlove Dr, Andrews, NC 28901
      View Details
    • $185,000
      2,892 SF

      Historic Andrews Property on Main

      1903 home on 1.69 acres in Andrews' Main Street.
      61 Fairview Rd, Andrews, NC 28901
      View Details
    • $399,800
      4,416 SF

      Live/Work Property Near Main Street

      Live/work property with a cabin and industrial garage/warehouse.
      6785 Airport Rd, Andrews, NC 28901
      View Details
    • $225,000
      1,500 SF

      Downtown Andrews Retail/Office Space

      Retail/office space in downtown Andrews with current tenants.
      928 Main St, Andrews, NC 28901
      View Details
    • $449,000
      6,456 SF

      Refurbished Andrews Office Building For Sale

      Refurbished office building with hardwood floors and ballroom area.
      995 Main St, Andrews, NC 28901
      View Details
    • $349,000
      2,800 SF

      Main Street Commercial Building, Andrews

      Renovated mixed-use building on Main Street with living quarters.
      468A Main St, Andrews, NC 28901
      View Details
    • $349,000
      0.15 Acres

      Renovated Mixed-Use Building on Main

      Versatile, renovated mixed-use building with apartment in downtown Andrews, NC.
      468a Main St, Andrews, NC 28901
      View Details
    • $259,000

      Historic Red Caboose Airbnb

      Refurbished 1933 red caboose on 2 acres riverfront.
      45 Caboose Crk, Andrews, NC 28901
      View Details
    • $1,200,000
      9,265 SF

      Former Walgreens on Corner Lot

      9,265 SF retail property on 1.38-acre lot in Andrews, NC.
      286 Main St, Andrews, NC 28901
      View Details
    • $449,000
      1,500 SF

      Restaurant Building on Large Lot

      Restaurant building with fenced acreage on a large corner lot.
      1130 Main Street/Oak St, Andrews, NC 28901
      View Details
    • $799,000

      Highway Frontage RV Pads Land

      10 acres with highway and river frontage, RV pads in place.
      10.11 Valleytown Rd, Andrews, NC 28901
      View Details
    • $250,000
      1.08 Acres

      Andrews Mobile Home Park Investment

      12-Lot Park, Downtown Andrews, NC
      241-295 1St St, Andrews, NC 28901
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - Manufactured home community with four income-producing units in Andrews, NC.
    Where is this mobile home & rv park located?
    The property is located at 159 Connaheta Ave Andrews, NC.
    What is the asking price?
    The asking price for this property is $199,800.
    What are key features of this property?
    This property features: - Generates $3750 per month in rental income with roughly a 20% CAP rate at full occupancy.; - Consists of 4 income-producing units: **3 mobile homes and one 24x24 storage building.**; - Located in a growing area of Andrews, NC, close to downtown amenities and within driving distance of Asheville and Atlanta.
    (828) 321-5516
    Request Owner's contact information
    159 Connaheta Ave Andrews, NC 28901
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    159 Connaheta Ave
    Andrews, NC 28901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    159 Connaheta Ave Andrews, NC 28901
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Old Town Team
    (828) 321-5516
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.