Mixed-Use
For Sale
$299,000
Pending
440V Carolina Avenue, Brevard, NC 28712
CMX zoning allows consideration of residential and commercial uses, with intended occupancy subject to local confirmation.
Property Size1,014 SF
Days on Market12
Property Features for 440V Carolina Avenue
General Information
Standard status
Pending
Size
1,014 SF
Property subtype
Commercial
Zoning
CMX
Additional Details
Asking Price
$315,000
Road Access
Yes
Building Details
Building Size
1,014 SF
Year Built
1946
Buildings
1
Listing Agency:
Mosaic Community Lifestyle Realty
Listed By:
Elizabeth Putnam · License #244183
(828) 301-6374
Source:
Geoffcampbell
Added: Oct 19
Changed: Oct 26
Last Checked: Oct 29 at 10:46PM
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 Mosaic Community Lifestyle Realty
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Investment Insights
Based on property information with market context.
This 1,014-square-foot bungalow, built in 1946, has a renovated kitchen with white cabinetry, butcher block counters, an exhaust hood, and pantry storage. Bathroom updates include a wood vanity, tiled tub and shower, and a shower niche. Wood floors were installed in 2019; replacement windows and siding followed in 2023. The crawlspace is encapsulated and has a commercial-grade dehumidifier, and the property has new HVAC ductwork. A covered porch and rear patio, fenced yard, fire pit area, raised garden bed, mature shade trees, and storage shed round out the improvements. A new refrigerator was added in 2026.
The corner parcel has frontage on two roads and off-street parking. It is less than half a mile from downtown Brevard and offers access to US-64. CMX zoning may allow residential, commercial, or short-term rental use; prospective occupants should confirm their intended use with Brevard Planning and Zoning.
The corner parcel has frontage on two roads and off-street parking. It is less than half a mile from downtown Brevard and offers access to US-64. CMX zoning may allow residential, commercial, or short-term rental use; prospective occupants should confirm their intended use with Brevard Planning and Zoning.
Key Highlights
- 1,014‑square‑foot building on a corner lot
- CMX zoning; potential residential, commercial, and short‑term rental uses require local confirmation
- Frontage on two roads with off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,678
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,560
$313.6K
Cap Rate 7%
$223,971
$224.0K
Cap Rate 9%
$174,200
$174.2K
Market Conditions
NOI Build-Up for 1,014 SF
Gross rent
$24.3K $24.00/SF
− Vacancy
−$3.4K −$3.38/SF
EGI
$20.9K $20.62/SF
− OpEx
−$5.2K −$5.15/SF
NOI
$15.7K $15.46/SF
Area
Transylvania County, NC
Vacancy
14.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,560
Cap Rate 7%
$223,971
Cap Rate 9%
$174,200
Alternative Uses
Best Use
Office B
$224.0K
$196.0K – $261.3K
NOI $15,678 @ 7.0% cap · market cap 5.24%
Second Best
Mixed Use
$181.9K
$159.1K – $212.2K
NOI $12,731 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$298.6K
$261.3K – $348.4K
NOI $20,905 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX zoning allows consideration of residential and commercial uses, with intended occupancy subject to local confirmation.
Where is this mixed-use property located?
The property is located at 440V Carolina Avenue Brevard, NC.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,014‑square‑foot building on a corner lot; CMX zoning; potential residential, commercial, and short‑term rental uses require local confirmation; Frontage on two roads with off‑street parking
