Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Black Mountain Land with Views Title is generated by Realmo AI

    2957 Creston Drive, Black Mountain, NC 28711

    View on Map
    Claim this Listing
    For Sale
    $145,000

    LAND - Black Mountain, NC

    Lot size:
    2.54 Acres
    Added:
    Feb 9, 2023
    Days on Market:
    1211
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 2957 Creston Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    0638-00-72-6484
    Lot size
    2.54 Acres

    Taxes and HOA fees

    Tax Description
    see deed

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Eddie Colley

    Listing agent Eddie Colley License #257918

    Listing office Keller Williams Professionals 100 West State Street, asheville, NC

    Listing date Feb 9, 2023

    MLS# 3938489 Listing URL

    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.

    HighLights

    • Awe‑inspiring vista from the lot.
    • Short walk to the Community Center.
    • Access to Triple Falls Sanctuary, a 350‑acre conservation area.
    • Upscale mountain community.
    • Natural beauty and peaceful seclusion.
    • Easy access to the town of Black Mountain.

    Overview

    This 2.54-acre lot is located in the Creston community in Black Mountain, NC. The property offers views and is a short walk from the Community Center. Creston is an upscale mountain community created by John & Marilyn Nelson, surrounded by natural beauty and with access to the town of Black Mountain. Residents can enjoy a nature-based setting including Triple Falls Sanctuary, Creston's secret garden; a 350-acre conservation area with forests, streams and waterfalls, all while living in their homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Black Mountain
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.238506
    Latitude
    35.582006

    Nearby Similar for Sale

    • $850,000
      2,201 SF

      Two Homes in Black Mountain, NC

      Two homes ideal for multigenerational living or rental income.
      416 S Cherokee Avenue, Black Mountain, NC 28711
      View Details
    • $475,000
      1,450 SF

      Black Mountain Commercial Opportunity

      Commercial property near downtown Black Mountain with STR potential.
      46 Vance Avenue, Black Mountain, NC 28711
      View Details
    • $495,000

      Black Mountain Commercial Land For Sale

      0.30-acre site at the entrance to downtown Black Mountain.
      11 Terry Estate Drive, Black Mountain, NC 28711
      View Details
    • $985,000
      4,700 SF

      Black Mountain Investment Opportunity

      Highway business zoned property near downtown Black Mountain.
      508 W State Street, Black Mountain, NC 28711
      View Details
    • $225,000

      Black Mountain Land For Sale

      Wooded lot near downtown Black Mountain with development potential.
      17 Chicago Avenue, Black Mountain, NC 28711
      View Details
    • $39,000

      Homesite in Gated Black Mountain Community

      Homesite in The Settings community with mountain view potential.
      21 Settings Boulevard, Black Mountain, NC 28711
      View Details
    • $950,000

      Farmhouse on Picturesque Black Mountain Acres

      Rustic farmhouse on 37 acres with development potential.
      2380 Old Fort Road, Black Mountain, NC 28711
      View Details
    • $975,000

      123+ Acre Recreation Paradise

      Private 123+ acre parcel near Black Mountain and Chimney Rock.
      2726 Lower Flat Creek Road, Black Mountain, NC 28711
      View Details
    • $225,000

      Black Mountain Homesite with Views

      Rare 10-acre homesite in gated mountain community.
      215 Laurel Mountain Trail, Black Mountain, NC 28711
      View Details
    • $89,000

      Black Mountain Land in Cheshire

      Residential lot in vibrant, walkable Black Mountain community.
      10 Whitman Lane, Black Mountain, NC 28711
      View Details
    • $28,900

      Land in Black Mountain, NC

      Homesite with long-range views near downtown Black Mountain.
      31 Old Lafayette Lane, Black Mountain, NC 28711
      View Details
    • $250,000

      Prime Black Mountain Building Lot

      Rare, level 0.51-acre lot in Black Mountain's heart.
      109 W College Street, Black Mountain, NC 28711
      View Details

    FAQs

    What type of property is this?
    Land - Land in Creston community with mountain views and community center.
    Where is this land located?
    The property is located at 2957 Creston Drive Black Mountain, NC.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Awe‑inspiring vista from the lot.; Short walk to the Community Center.; Access to Triple Falls Sanctuary, a 350‑acre conservation area.
    (828) 776-3834
    We can help!
    Listing Contact
    Eddie Colley
    Real Estate License ID: 257918
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2957 Creston Drive, Black Mountain, NC 28711
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!