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    Lake Chatuge Unrestricted Income Property Title is generated by Realmo AI

    40 Chatuge Lane, Hayesville, NC 28904

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    Pending
    $1,799,000

    COMMERCIAL - Hayesville, NC

    Property size:
    8,721 SF
    Lot size:
    5.39 Acres
    Added:
    Apr 18, 2026
    Days on Market:
    28
    Last Refresh:
    May 15 at 4:06 am

    Property Features for 40 Chatuge Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    24
    Rooms
    Bathroom 9, Bathroom 22, Bathroom 24, Bathroom 2, Bathroom 11, Bathroom 21, Bathroom 17, Bathroom 10, Bathroom 20, Bathroom 13, Bathroom 7, Bathroom 16, Bathroom 8, Bathroom 5, Bathroom 19, Bathroom 6, Bathroom 14, Bathroom 4, Bathroom 15, Bathroom 18, Bathroom 23, Bathroom 12, Bathroom 1, Bathroom 3
    Parking features
    Off Street, Driveway, Parking Lot
    Security features
    Security System
    Vegetation
    Partially Wooded
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Pending
    APN
    557004725821
    Size
    8,721 SF
    Lot size
    5.39 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4911

    Utilities

    Utilities
    Propane
    Heating system
    Electric (Heating), Heat Pump (Heating), Baseboard, Wall Furnace
    Cooling system
    Ceiling Fan(s), Wall Unit(s)
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    1993
    Floors in Building
    1
    Flooring type
    Carpet, Tile - Ceramic, Vinyl
    Building materials
    Concrete, Masonry
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Evelyn S. Owens
    Evelyn S. Owens

    Listing agent Evelyn S. Owens License #228116

    Listing office Keller Williams Realty of Franklin 1573 Highlands Road, Franklin, NC

    Listing date Apr 18, 2026

    MLS# 26041558

    Copyright © 2026 Carolina Smokies Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Unrestricted 5.39‑acre property with lake access and mountain views overlooking Lake Chatuge
    • Income‑producing property featuring a 20‑room motel, renovated with updated bathrooms and new flooring
    • Includes a 1 bed / 1 bath apartment for on‑site management or additional rental income
    • Two mobile homes on‑site generate $1,600/month in rental income
    • Expansive grounds offer space to add more tiny homes or mobile units for additional revenue
    • Motel rooms are equipped with a desk, microwave, coffee maker, and sofa

    Overview

    This 5.39-acre unrestricted property overlooking Lake Chatuge offers lake access and mountain vistas. It features a renovated 20-room motel with updated bathrooms, new flooring, a desk, microwave, coffee maker, and sofa. The motel includes 3 rooms with King beds and 17 rooms with two Queen beds, of which 3 rooms are pet-friendly, all with luxury vinyl flooring. A 1-bed, 1-bath apartment is ideal for on-site management or additional rental income. Two mobile homes on-site generate $1,600 per month in rental income. The expansive grounds offer space to add more tiny homes or mobile units for additional revenue streams. The property is located in Hayesville, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Deerfield Inn Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Hotel & Motel Kitchen & Bath Showroom Garden Center Plumbing Service Bed & Breakfast Restaurant

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

    Similar Places Nearby

    • Mountain Harbor POA — 105 Mountain Harbour Dr, Hayesville, NC 28904
    • Chatuge Mountain Inn — 4238 US-64, Hayesville, NC 28904
    • Deerfield Inn — 40 Chatuge Ln, Hayesville, NC 28904
    • Buena Vista Cabins — 49 buena vista ln, hayesville, nc 28904

    Location Insight

    • Map
    • Local Demand
    City
    Hayesville
    County
    Clay
    State
    North Carolina
    Longitude
    -83.7537746
    Latitude
    35.0384123

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    FAQs

    What type of property is this?
    Motel - Income-producing 5.39-acre property overlooking Lake Chatuge with endless potential.
    Where is this motel located?
    The property is located at 40 Chatuge Lane Hayesville, NC.
    What is the asking price?
    The asking price for this property is $1,799,000.
    What are key features of this property?
    This property features: Unrestricted 5.39‑acre property with lake access and mountain views overlooking Lake Chatuge; Income‑producing property featuring a 20‑room motel, renovated with updated bathrooms and new flooring; Includes a 1 bed / 1 bath apartment for on‑site management or additional rental income
    (828) 332-0088
    We can help!
    Listing Contact
    Evelyn S. Owens
    Evelyn S. Owens
    Real Estate License ID: 228116
    Learn More
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    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.

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