Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7521 HWY 294 Murphy, NC 28906

    View on Map
    Claim this Listing
    For Sale
    $499,000

    Commercial - MURPHY, NC

    Property size:
    3,000 SF
    Lot size:
    1.38 Acres
    Added:
    Sep 1, 2025
    Days on Market:
    232
    Last Refresh:
    Apr 20 at 4:06 am

    Property Features for 7521 HWY 294

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Restroom-private, Other
    Exterior features
    Lighting
    Standard status
    Active
    Size
    3,000 SF
    Lot size
    1.38 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1983
    Flooring type
    Concrete
    Building materials
    Block
    Roof type
    Aluminum
    Architectural style
    Other

    We can help!

    Listing Contact
    Lawrence McNabb
    Lawrence McNabb

    Listing agent Lawrence McNabb

    Listing office McNabb Properties, Inc. 75 Tennessee Street, MURPHY, NC

    Listing date Sep 1, 2025

    MLS# 151965 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.

    Overview

    Hiwassee Dam Commercial Opportunity

    This property, situated in the Hiwassee Dam Community near Hiwassee Dam School, presents a commercial opportunity. The property, with a size of 3000 square feet and a lot size of 1.38 acres, currently houses a full-time mechanic and a newly opening convenience store. It is located in MURPHY, NC, with a postal code of 28906, in Cherokee County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Bed & Breakfast Travel Agency

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

    Similar Places Nearby

    • Phil's Automotive — 7521 NC-294, Murphy, NC 28906

    Location Insight

    • Map
    • Local Demand
    City
    Murphy
    County
    Cherokee
    State
    North Carolina
    Longitude
    -84.219168
    Latitude
    35.101469

    Nearby Similar for Sale

    • $1,150,000
      14,400 SF

      Versatile Commercial Office & Industrial Facility

      Prominent commercial property with office and industrial buildings on 1.52 acres.
      89 Sycamore Street, MURPHY, NC 28906
      View Details
    • $1,700,000
      5,796 SF

      Restored Industrial Building on River

      Chic, restored industrial building in downtown Murphy on Hiwassee River.
      11 Railroad St, MURPHY, NC 28906
      View Details
    • $709,000
      3,600 SF

      Profitable Restaurant with Luxury Loft

      Turn-key restaurant with income-producing luxury loft in downtown Murphy, NC.
      89 Tennessee Street, MURPHY, NC 28906
      View Details
    • $325,000

      Murphy, NC Warehouse For Sale

      Commercial warehouse/shop for sale, good income producing property.
      209 Butler Mountain Road, Murphy, NC 28906
      View Details
    • $325,000
      720 SF

      Commercial Warehouse/Shop For Sale

      Commercial warehouse/shop for sale, good income producing property.
      209 Butler Mtn. Rd, MURPHY, NC 28906
      View Details
    • $1,299,900

      Murphy, NC Land For Sale

      190.76-acre property offers an escape from chaos.
      155 Cedar Cliff Ln, Murphy, NC 28906
      View Details
    • $599,000

      Unrestricted Land with RV Sites

      Land with 11 RV sites, utilities, and expansion potential.
      90 Sandy Gap Road, MURPHY, NC 28906
      View Details
    • $189,000

      Established Retail Furniture Business

      Turnkey retail furniture business opportunity on high-traffic corridor.
      0 Hwy. 64 W, MURPHY, NC 28906
      View Details
    • $2,347,809
      3,587 SF

      Free-Standing Bojangles' in Murphy, NC

      Single tenant Bojangles' with drive-thru on 2.44 acres.
      1563 Andrews Rd, Murphy, NC 28906
      View Details
    • $2,524,190
      10,640 SF

      New Dollar General Investment Opportunity

      New Dollar General Plus store in Murphy, North Carolina.
      138 Ledford St, Murphy, NC 28906
      View Details
    • $188,600

      Charming Tiny Home in Murphy, NC

      One bedroom, one bath tiny home on private lot.
      300 Linda Lane, Murphy, NC 28906
      View Details
    • $1,299,000
      6,000 SF

      Freestanding Restaurant on Highway 64

      6,000+ sqft restaurant with prime highway visibility on 3.95 acres.
      5722 Us Hwy 64 W., Murphy, NC, 28906
      View Details

    FAQs

    What type of property is this?
    Auto shop - Performing asset in the heart of Hiwassee Dam Community.
    Where is this auto shop located?
    The property is located at 7521 HWY 294 Murphy, NC.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Awesome location in the heart of the Hiwassee Dam Community.; Performing asset with income potential.; Newly opening convenience store on the property.
    (828) 557-9765
    We can help!
    Listing Contact
    Lawrence McNabb
    Lawrence McNabb
    Real Estate License ID: 212367
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!