Building Details

Year Built 2020

Buildings 3

Listing Agency: Town and Mountain Realty (luiz@luizleonetti.com)

Listed By: Luiz Leonetti · License #277781 Show Phone

Source: Townandmountain

Added: Oct 4 Changed: Oct 11 Last Checked: Oct 11 at 9:14AM

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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 Town and Mountain Realty (luiz@luizleonetti.com)

Investment Insights

Based on property information with market context.

This 1.47-acre mixed-use property combines a four-unit residential building with two separate structures. The quadplex, built in 2020, contains four 1-bedroom, 1-bathroom units, each with an individual mini-split system. A road-facing building offers approximately 1,378 SF, while a detached flex building provides additional space. The vacant metal building, built in 2005, is conditioned and measures approximately 2,077 SF. Paved parking and an outdoor pavilion are also on site.

The property is identified with Open Use zoning; buyers should verify zoning, permitted uses, and septic capacity. City water and a high-capacity septic system serve the site. Access to I-26, Highway 74A, Asheville Regional Airport, and Hendersonville is noted.

Key Highlights

• Four residential units, each configured with 1BR/1BA; quadplex built in 2020
• 1.47 acres with Open Use zoning; verify zoning and permitted uses
• Approximately 2,077 SF conditioned metal building, built in 2005

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,924

Cap Rate

4.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,118,480 $1.1M

Cap Rate 7%

$798,914 $798.9K

Cap Rate 9%

$621,378 $621.4K

Market Conditions

NOI Build-Up for 6,225 SF

Gross rent

$93.4K $15.00/SF

− Vacancy

−$13.5K −$2.17/SF

EGI

$79.9K $12.83/SF

− OpEx

−$24.0K −$3.85/SF

NOI

$55.9K $8.98/SF

Area

Henderson County, NC

Vacancy

14.44%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,118,480

Cap Rate 7%

$798,914

Cap Rate 9%

$621,378

Alternative Uses

Best Use

Multifamily LT 5

$798.9K

$699.1K – $932.1K (±1% cap)

NOI $55,924 @ 7.0% cap · market cap 4.35%

Second Best

Mixed Use

$707.0K

$618.6K – $824.8K (±1% cap)

NOI $49,489 @ 7.0% cap · market cap 3.85%

Theoretical Best

Office A

$2.07M

$1.82M – $2.42M (±1% cap)

NOI $145,217 @ 7.0% cap · market cap 11.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Roman History: Antiquity Marketing & Advertising

Suggested Use

Top Pick Real Estate Agency Building Supply Auto Repair Shop Auto Parts Store Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

59

Businesses Nearby

Explore this area Business Placement

Demographics for 28732, NC

19,158

Population

8,181

Households

2.3

Avg Household Size

43

Median Age

40%

College-Educated

93%

High-School Grad

41.3 sq mi

ZIP Area

464

Density / Sq Mi

$79,451

Median Household Income

$41,748

Median Earnings

$1,206

Median Rent

$341,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Separate road-facing and detached spaces complement the residential units and conditioned metal building.

Where is this mixed-use property located?

The property is located at 1589 Cane Creek Road Fletcher, NC.

What is the asking price?

The asking price for this property is $1,285,000.

What are key features of this property?

This property features: Four residential units, each configured with 1BR/1BA; quadplex built in 2020; 1.47 acres with Open Use zoning; verify zoning and permitted uses; Approximately 2,077 SF conditioned metal building, built in 2005