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240 Mitchelle Dr Hendersonville, NC 28792

Sponsored
For Sale
$8,000,000

7-Acre Commercial Property w/ Hotel

Property size:
22,392 SF

Description

Added:
Feb 3, 2025
Days on Market:
370
This exceptional 7.09-acre commercial property presents a prime investment opportunity in Hendersonville, NC's thriving Opportunity Zone. The offering includes a successfully operating 48-room Red Roof Inn, which can be purchased as part of the deal or repurposed for residential conversion within a larger housing development on the remaining acreage. This strategically located property boasts optimal access to two major highways, placing it within easy reach of both Asheville and the Greenville/Spartanburg area. Surrounded by major national retailers, this site is ideally positioned to capitalize on Henderson County's robust growth trajectory. The property is fully serviced, with existing sewer, 3-phase power, gas, and water lines already in place, making it "shovel ready" for immediate development. Zoned C-3, the property offers a wide range of commercial development possibilities. Located just five minutes from Hendersonville's historic downtown, which draws approximately two million tourists annually, this property benefits from a community experiencing significant population growth—nearly 12% in the last five years. The four parcels comprising this offering represent a rare chance to acquire a substantial commercial holding in a rapidly expanding market. This is a unique opportunity to invest in a high-growth area with existing infrastructure and significant potential for future development and returns. The combination of the existing hotel and the substantial undeveloped land provides flexibility for a variety of investment strategies.

Property Features for 240 Mitchelle Dr

General Information

Property type
Other commercial real estate
Square Feet
22,392 SF
Lot Size
308,840 SF

Building Details

Year Built
2002

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Listing Contact
Amy Wood

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Property Insight Report

Property Profile Location Intelligence

Current Use by Public Records

Red Roof Inn ... Hotel & Motel Red roof inn Hotel & Motel

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

Location Insight

  • Map
  • Local Demand
City
Hendersonville
County
Henderson
State
North Carolina
Longitude
-82.44003
Latitude
35.33836

FAQs

What type of property is this?
Commercial real estate - 7-Acre Commercial Property w/ Hotel
Where is this commercial real estate located?
The property is located at 240 Mitchelle Dr Hendersonville, NC.
What is the asking price?
The asking price for this property is $8,000,000.
More about this property
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