Overview
Waynesville Redevelopment Assemblage Opportunity
This offering presents a rare redevelopment assemblage in Waynesville's South Main corridor, featuring 1.53 acres across two contiguous parcels. The site is zoned South Main Business District (SM-BD), allowing for flexible commercial and multifamily use. Parcel 1, spanning 0.709 acres, includes a 1,746 sq ft commercial building, a triplex, a duplex, and two freestanding apartments, totaling 7 units. Parcel 2, covering 0.82 acres, contains 8 residential units in cottages and duplexes, with 7 currently occupied. One unit is uninhabitable due to past flood damage. The existing monthly gross rent exceeds $12,000, though many units are rented below market value. All structures, built in the mid-20th century, are in fair to poor condition, with deferred maintenance, aged roofs, and no central HVAC. The site is priced for land value and potential upside, not stabilized income. Zoning permits various future uses, including multifamily, mixed-use, retail, office, or boutique hospitality. The location is walkable to Ingles, Walmart, breweries, restaurants, and downtown Waynesville. The parcels are adjacent to the revitalized Waynesville Inn & Golf Club and are within the South Main Redevelopment District, offering visibility and access for developers. The combined parcels create an infill footprint with Main Street frontage, public utilities, and proximity to commercial anchors. Adaptive reuse or full redevelopment options are available.
