Building Details

Building Size 6,264 SF

Buildings 1

Listing Agency: Dewey Property Advisors

Listed By: Scott Raines, CCIM · License #NC #226165 Show Phone

Source: Deweypa

Added: May 14 Changed: Oct 9 Last Checked: Oct 19 at 4:19AM

Report an Issue

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 Dewey Property Advisors

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This storefront property includes approximately 6,264 square feet of commercial space on a 0.12-acre parcel. The building previously operated as a restaurant and bakery, providing a commercial layout associated with food-service use.

Positioned in downtown Chimney Rock Village, the property sits along a tourism-oriented corridor in Western North Carolina. It is across from the entrance to Chimney Rock State Park and offers walkable access, strong visibility, and proximity to established businesses serving visitors. The surrounding setting combines a Main Street location with direct exposure to a prominent regional attraction.

Key Highlights

• 6,264 SF commercial building on 0.12 acres
• Former restaurant and bakery property
• Main Street location in downtown Chimney Rock Village

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,941

Cap Rate

7.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,238,820 $1.2M

Cap Rate 7%

$884,871 $884.9K

Cap Rate 9%

$688,233 $688.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,264 SF

Gross rent

$90.2K $14.40/SF

− Vacancy

−$1.7K −$0.27/SF

EGI

$88.5K $14.13/SF

− OpEx

−$26.5K −$4.24/SF

NOI

$61.9K $9.89/SF

Area

Rutherford County, NC

Vacancy

1.90%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,238,820

Cap Rate 7%

$884,871

Cap Rate 9%

$688,233

Alternative Uses

Best Use

Specialty Retail

$1.06M

$928.6K – $1.24M (±1% cap)

NOI $74,290 @ 7.0% cap · market cap 9.30%

Second Best

Retail

$884.9K

$774.3K – $1.03M (±1% cap)

NOI $61,941 @ 7.0% cap · market cap 7.75%

Theoretical Best

Office A

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,696 @ 7.0% cap · market cap 12.10%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Furniture & Home Goods (Bike/Boat/Book/etc) Store Parking Lot & Garage Hair Salon Bakery Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

113

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28720, NC

125

Population

170

Households

0.7

Avg Household Size

57

Median Age

29%

College-Educated

99%

High-School Grad

9.3 sq mi

ZIP Area

13

Density / Sq Mi

$44,417

Median Earnings

$1,358

Median Rent

$361,100

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

Frequently Asked Questions

What type of property is this?

Storefront property - Former restaurant and bakery space with walkable access amid established tourism-oriented businesses.

Where is this storefront property located?

The property is located at 390 Main St Chimney Rock, NC.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 6,264 SF commercial building on 0.12 acres; Former restaurant and bakery property; Main Street location in downtown Chimney Rock Village