Flex Space With Expansion
For Sale
Under Contract
$495,000
2080 Hendersonville Highway, Pisgah Forest, NC 28768
Commercial Sale, Pisgah Forest, NC
Property Size3,100 SF
Lot Size4.47 Acres
Price / SF$159.68
Days on Market67
Property Features for 2080 Hendersonville Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Hendersonville, travel west on US-64 toward Brevard. Property is located on the left just beyond the Marathon gas station. From Brevard, travel east on US-64 toward Hendersonville. Property will be on the right. GPS is accurate.
Standard status
Active Under Contract
APN
9507533737000
Lot size
4.47 Acres
Taxes and HOA fees
Tax Description
OLD HWY # 64
Legal Description
OLD HWY # 64
Utilities
Heating system
Natural Gas
Water source
Well
Amenities
wood-burning stove
heated wall unit
covered front porch
Building Details
Year built
1983
Listing Agency:
BluAxis Realty
(828) 233-5447
Listed By:
Andrea Greer · License #308950
(336) 442-9124
Added: Jun 25
Changed: Aug 27
Last Checked: Aug 30 at 5:06AM
MLS# 4397798
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4.47-acre flex property includes three separate buildings totaling approximately 3,100 square feet. The front structure features an open showroom with wood floors, exposed beams, wood-paneled walls, a wood-burning stove, heated wall unit, restroom, and covered porch. Two additional buildings provide workshop, warehouse, storage, or production space, while the rear building includes two large roll-up doors.
A graded building site adds room for future expansion, additional buildings, parking, equipment storage, or outdoor display space. Existing infrastructure includes 3-phase electrical service, high-pressure natural gas, a private well, and septic. The property backs up to the Ecusta Trail corridor and includes wooded surroundings with seasonal mountain and French Broad River Valley views from portions of the site.
Built in 1983, the property is located on Hendersonville Highway in Pisgah Forest, near downtown Brevard, Pisgah National Forest, and the Highway 64/280 corridor. Buyers are encouraged to verify intended uses, development potential, and permitting requirements with Transylvania County. The property is being sold As-Is.
A graded building site adds room for future expansion, additional buildings, parking, equipment storage, or outdoor display space. Existing infrastructure includes 3-phase electrical service, high-pressure natural gas, a private well, and septic. The property backs up to the Ecusta Trail corridor and includes wooded surroundings with seasonal mountain and French Broad River Valley views from portions of the site.
Built in 1983, the property is located on Hendersonville Highway in Pisgah Forest, near downtown Brevard, Pisgah National Forest, and the Highway 64/280 corridor. Buyers are encouraged to verify intended uses, development potential, and permitting requirements with Transylvania County. The property is being sold As-Is.
Key Highlights
- 4.47‑acre commercial property with three separate buildings
- Approximately 3,100 square feet across the buildings
- Rear building has two large roll‑up doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,721
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$754,420
$754.4K
Cap Rate 7%
$538,871
$538.9K
Cap Rate 9%
$419,122
$419.1K
Market Conditions
NOI Build-Up for 3,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.5K $19.20/SF
− Vacancy
−$1.5K −$0.48/SF
EGI
$58.0K $18.72/SF
− OpEx
−$20.3K −$6.55/SF
NOI
$37.7K $12.17/SF
Area
Transylvania County, NC
Vacancy
2.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$754,420
Cap Rate 7%
$538,871
Cap Rate 9%
$419,122
Alternative Uses
Best Use
Flex RnD
$538.9K
$471.5K – $628.7K
NOI $37,721 @ 7.0% cap · market cap 7.62%
Second Best
Warehouse
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$913.0K
$798.9K – $1.07M
NOI $63,910 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28768, NC
6,820
Population
3,542
Households
1.9
Avg Household Size
50
Median Age
40%
College-Educated
96%
High-School Grad
83.1 sq mi
ZIP Area
82
Density / Sq Mi
$72,567
Median Household Income
$35,442
Median Earnings
$819
Median Rent
$299,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three-building commercial property with workshop, warehouse, showroom, and production potential.
Where is this flex space located?
The property is located at 2080 Hendersonville Highway Pisgah Forest, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 4.47‑acre commercial property with three separate buildings; Approximately 3,100 square feet across the buildings; Rear building has two large roll‑up doors
