Building Details

Building Size 1,120 SF

Year Built 1920

Buildings 1

Stories 2

Construction full-brick

Listing Agency: Keller Williams Mtn Partners, LLC

Listed By: Miguel Martin Show Phone

Source: Geoffcampbell

Added: Oct 23 Last Checked: Oct 23 at 4:34PM

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Investment Insights

Based on property information with market context.

Built in 1920, this two-story, full-brick mixed-use property contains 1,120 square feet. The main commercial level is suited to reconfiguration, while the upper floor offers additional space for office or retail use, or possible mixed-use conversion.

The property is at 360 Seventh Avenue E in Hendersonville’s 7th Avenue Historic Business District. CMU zoning and city connections for water, sewer, natural gas, and fiber optics are in place.

Key Highlights

• 1,120‑square‑foot, two‑story building
• Full‑brick construction; built in 1920
• CMU zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,844

Cap Rate

3.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$276,880 $276.9K

Cap Rate 7%

$197,771 $197.8K

Cap Rate 9%

$153,822 $153.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,120 SF

Gross rent

$20.2K $18.00/SF

− Vacancy

−$383 −$0.34/SF

EGI

$19.8K $17.66/SF

− OpEx

−$5.9K −$5.30/SF

NOI

$13.8K $12.36/SF

Area

Henderson County, NC

Vacancy

1.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$276,880

Cap Rate 7%

$197,771

Cap Rate 9%

$153,822

Alternative Uses

Best Use

Retail

$197.8K

$173.1K – $230.7K (±1% cap)

NOI $13,844 @ 7.0% cap · market cap 3.08%

Second Best

Mixed Use

$127.2K

$111.3K – $148.4K (±1% cap)

NOI $8,904 @ 7.0% cap · market cap 1.98%

Theoretical Best

Office A

$373.2K

$326.6K – $435.5K (±1% cap)

NOI $26,127 @ 7.0% cap · market cap 5.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Locksmith Storage Facility Computer & Electronic Repair (Bike/Boat/Book/etc) Store Veterinary Clinic Catering Service

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

Utilities to site

Location Intelligence

Trade Area within ½ mile

2,127

Businesses Nearby

26k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 64% Dining 36%

First Citizens Bank Shops & Services

9,690 visits/mo 0.2 miles

Marco's Pizza Dining

5,187 visits/mo 0.1 miles

PNC Bank Shops & Services

4,565 visits/mo 0.4 miles

Papa John's Pizza Dining

3,998 visits/mo 0.5 miles

Park National Bank Shops & Services

1,773 visits/mo 0.4 miles

Demographics for 28792, NC

35,962

Population

18,121

Households

2

Avg Household Size

44

Median Age

26%

College-Educated

87%

High-School Grad

102.9 sq mi

ZIP Area

349

Density / Sq Mi

$55,066

Median Household Income

$32,312

Median Earnings

$1,131

Median Rent

$249,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - CMU zoning and connections for water, sewer, natural gas, and fiber optics support a range of commercial configurations.

Where is this mixed-use property located?

The property is located at 360 Seventh Avenue E Hendersonville, NC.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 1,120‑square‑foot, two‑story building; Full‑brick construction; built in 1920; CMU zoning