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    Lake-View Motel with On-Site Apartment Title is generated by Realmo AI

    40 Chatuge Lane, Hayesville, NC 28904

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    For Sale
    $1,799,000

    COMMERCIAL - Hayesville, NC

    Property size:
    8,721 SF
    Lot size:
    5.39 Acres
    Price / SF:
    $206/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 40 Chatuge Lane

    General Information

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

    Taxes and HOA fees

    Tax Annual Amount
    4911

    Utilities

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

    Building Details

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

    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 Jun 3, 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 overlooking Lake Chatuge with lake views and lake access
    • Well‑maintained 20‑room motel (recently renovated) with king and two‑queen accommodations
    • Room mix: 3 king‑bed rooms; 17 rooms with two queen beds, including 3 pet‑friendly rooms
    • In addition to motel rooms, includes a 1 bed/1 bath apartment for on‑site management or extra rental income
    • Two mobile homes on‑site generate $1,600/month in rental income
    • Utilities include propane; water source is a well

    Overview

    Set on unrestricted 5.39 acres, this income-producing motel property offers a well-maintained, recently renovated 20-room layout. Guest accommodations include three king-bed rooms and seventeen two-queen rooms, with three rooms identified as pet-friendly. Interior upgrades feature stylish luxury vinyl flooring, updated bathrooms, and in-room amenities including a desk, microwave, coffee maker, and sofa. The property also includes a spacious 1 bed/1 bath apartment suited for on-site management or added rental income. Two mobile homes on site currently generate $1,600 per month, and the grounds provide room to add additional units if desired.

    Located at 40 Chatuge Lane in Hayesville, the property overlooks Lake Chatuge and offers lake access. With mountain vistas described as part of the setting, the site is positioned to appeal to travelers looking for a scenic stay while also giving investors flexible opportunities to grow the rental portfolio.

    For buyers seeking a turn-key hospitality investment, the combination of renovation work, a dedicated on-site residence, and existing secondary rental income from mobile homes can support steady operations from day one. The unrestricted nature and expansive site allow an operator to evaluate expansion concepts alongside the existing motel and multi-unit setup, making this a practical fit for experienced motel operators or investors building a hospitality portfolio.
    Property Profile 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 - Renovated 20-room motel on unrestricted acreage with lake access, plus an on-site apartment and additional mobile-home income.
    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 overlooking Lake Chatuge with lake views and lake access; Well‑maintained 20‑room motel (recently renovated) with king and two‑queen accommodations; Room mix: 3 king‑bed rooms; 17 rooms with two queen beds, including 3 pet‑friendly rooms
    (828) 332-0088
    We can help!
    Listing Contact
    Evelyn S. Owens
    Evelyn S. Owens
    Real Estate License ID: 228116
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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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