19-Unit Hotel with Guest
For Sale
$2,300,000
1510 Greenville Highway, Hendersonville, NC 28792
Lodging property with varied accommodations, renovated guest rooms, updated furnishings, and landscaped outdoor gathering areas.
Property Size19,509 SF
Days on Market50
Property Features for 1510 Greenville Highway
General Information
Standard status
Active
Size
19,509 SF
Property subtype
Hotel/Motel
Amenities
gazebo
shuffleboard court
dog park
gathering areas
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 9577196044, Assessed Value: $1.115e+06, Zoning: CITY
Laminate, Tile, Vinyl
Window Unit(s)
Wall Furnace
Listing ID: CAR4413997, Standard Status: Active, MLS Status: Active, Property Subtype: Hotel/Motel, 45 days on market, Special Conditions: None
2 covered spaces, 22 open parking spaces, 22 total parking spaces, Assigned, Detached Carport, Parking Lot, Parking Space(s)
Built in 1950, 9 buildings, Construction Materials: Wood
County/Parish: Henderson
Other structures: Workshop
Cable Available, Cable Connected, Electricity Connected, Water Source: City
Slab
Frontage Type: City Street, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Smoke Detector(s)
Electric Oven, Exhaust Hood, Microwave, Refrigerator, Washer/Dryer
Building Details
Building Size
19,509 SF
Year Built
1950
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Jay Lawrence
(405) 213-4651
Source:
Blackstreaminternational
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 5 at 7:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
Investment Insights
Based on property information with market context.
Cedarwood Inn is a hotel property comprising 19 guest units and a main building. The accommodation mix includes traditional guest rooms, kitchen-equipped units, a detached cottage, and a two-bedroom home. The property was built in 1950 and has received new roofs and gutters, remodeled guest rooms, updated furnishings, and additional site improvements.
Outdoor amenities include landscaped grounds, a gazebo, shuffleboard court, dog park, and gathering spaces. The property is located at 1510 Greenville Highway in Hendersonville, approximately five minutes from downtown Flat Rock and convenient to Hendersonville. The Cheers! Trail and new Ecusta Trail are also minutes away, with nearby breweries, wineries, dining, and outdoor recreation.
Outdoor amenities include landscaped grounds, a gazebo, shuffleboard court, dog park, and gathering spaces. The property is located at 1510 Greenville Highway in Hendersonville, approximately five minutes from downtown Flat Rock and convenient to Hendersonville. The Cheers! Trail and new Ecusta Trail are also minutes away, with nearby breweries, wineries, dining, and outdoor recreation.
Key Highlights
- 19 guest units plus the main building
- Accommodation mix includes traditional rooms, kitchen units, a standalone cottage, and a two‑bedroom home
- Built in 1950 with brand‑new roofs and gutters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,873
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,357,460
$2.4M
Cap Rate 7%
$1,683,900
$1.7M
Cap Rate 9%
$1,309,700
$1.3M
Market Conditions
NOI Build-Up for 19,509 SF
Gross rent
$292.6K $15.00/SF
− Vacancy
−$44.5K −$2.28/SF
EGI
$248.2K $12.72/SF
− OpEx
−$130.3K −$6.68/SF
NOI
$117.9K $6.04/SF
Area
Henderson County, NC
Vacancy
15.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,357,460
Cap Rate 7%
$1,683,900
Cap Rate 9%
$1,309,700
Alternative Uses
Best Use
Hotel Hospitality
$1.68M
$1.47M – $1.96M
NOI $117,873 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.50M
$5.69M – $7.59M
NOI $455,106 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - Lodging property with varied accommodations, renovated guest rooms, updated furnishings, and landscaped outdoor gathering areas.
Where is this hotel located?
The property is located at 1510 Greenville Highway Hendersonville, NC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 19 guest units plus the main building; Accommodation mix includes traditional rooms, kitchen units, a standalone cottage, and a two‑bedroom home; Built in 1950 with brand‑new roofs and gutters
