Historic Mixed-Use
For Sale
$980,000
204 Sutton Avenue, Black Mountain, NC 28711
Flexible downtown building with high ceilings, loft-style areas, and potential for street-level commercial and upper-level residential use.
Property Size3,772 SF
Price / SF$259.81
Days on Market238
Property Features for 204 Sutton Avenue
General Information
Standard status
Active
Size
3,772 SF
Property subtype
Commercial
Amenities
Baseboard Heating
Carpet Flooring
Concrete Flooring
Flat Roof
Laminate Flooring
Natural Gas Heating
Rubber Roof
Wood Flooring
Building Details
Year Built
1922
Buildings
1
Listing Agency:
IVESTER JACKSON BLACKSTREAM
(828) 367-9001
Listed By:
LAURA LIVAUDAIS · License #129821
(828) 712-5445
Source:
Corcoran
Added: Feb 18
Changed: Oct 13
Last Checked: Oct 12 at 7:20PM
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 IVESTER JACKSON BLACKSTREAM
Investment Insights
Based on property information with market context.
Built in 1922, this 3,772-square-foot mixed-use building combines a street-facing commercial area with upper-level and rear spaces that may support residential living, subject to verification of zoning and permitted uses. High ceilings, loft-style areas, and architectural character provide a flexible framework for customization while retaining the building’s historic identity.
The property is positioned along Sutton Avenue in Downtown Black Mountain’s Historic District, near restaurants, breweries, galleries, boutiques, and community events. Its central setting supports a walkable environment and places the building within an active downtown corridor. Potential concepts identified for the space include a storefront with residence, gallery and studio, professional offices, or a live-work arrangement, subject to applicable approvals.
The property is positioned along Sutton Avenue in Downtown Black Mountain’s Historic District, near restaurants, breweries, galleries, boutiques, and community events. Its central setting supports a walkable environment and places the building within an active downtown corridor. Potential concepts identified for the space include a storefront with residence, gallery and studio, professional offices, or a live-work arrangement, subject to applicable approvals.
Key Highlights
- 3,772‑square‑foot mixed‑use building constructed in 1922
- Located in Downtown Black Mountain’s Historic District
- High ceilings and loft‑style areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,983
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,660
$1.4M
Cap Rate 7%
$999,757
$999.8K
Cap Rate 9%
$777,589
$777.6K
Market Conditions
NOI Build-Up for 3,772 SF
Gross rent
$95.5K $25.32/SF
− Vacancy
−$2.2K −$0.58/SF
EGI
$93.3K $24.74/SF
− OpEx
−$23.3K −$6.18/SF
NOI
$70.0K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,660
Cap Rate 7%
$999,757
Cap Rate 9%
$777,589
Alternative Uses
Best Use
Office B
$999.8K
$874.8K – $1.17M
NOI $69,983 @ 7.0% cap · market cap 7.14%
Second Best
Retail
$631.8K
$552.9K – $737.1K
NOI $44,228 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,493 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 28711, NC
14,047
Population
7,563
Households
1.9
Avg Household Size
49
Median Age
54%
College-Educated
92%
High-School Grad
103.9 sq mi
ZIP Area
135
Density / Sq Mi
$69,177
Median Household Income
$38,677
Median Earnings
$1,319
Median Rent
$358,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible downtown building with high ceilings, loft-style areas, and potential for street-level commercial and upper-level residential use.
Where is this mixed-use property located?
The property is located at 204 Sutton Avenue Black Mountain, NC.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 3,772‑square‑foot mixed‑use building constructed in 1922; Located in Downtown Black Mountain’s Historic District; High ceilings and loft‑style areas
