Black Mountain Investment
For Sale
$897,000
508 W State Street, Black Mountain, NC 28711
Highway business zoned property near downtown Black Mountain.
Property Size4,700 SF
Lot Size0.95 Acres
Price / SF$190.85
Days on Market386
Property Features for 508 W State Street
General Information
Standard status
Active
Size
4,700 SF
Lot size
0.95 Acres
Property subtype
Commercial
Amenities
Asbestos Shingle Roof
Level
Building Details
Year Built
1945
Listing Agency:
HOWARD HANNA BEVERLY-HANKS ASHEVILLE-DOWNTOWN
(828) 254-7221
Listed By:
RICK TISDALE
Source:
Corcoran
Added: Oct 2, 2025
Changed: Oct 21
Last Checked: Oct 20 at 8:24PM
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 HOWARD HANNA BEVERLY-HANKS ASHEVILLE-DOWNTOWN
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in a location within walking distance of downtown Black Mountain. The property, formerly a restaurant, features over 4700 square feet of space on a 0.95-acre lot. Zoned for highway business, the site allows for various commercial uses. It has over 230 feet of road frontage on W. State St. (Old US Hwy 70). The property includes new wiring and a new HVAC system, along with ample on-site parking. It is located minutes from Asheville. Restaurant equipment and chattel are negotiable.
Key Highlights
- Prime location within walking distance of downtown Black Mountain.
- Highway business zoning allows for diverse commercial uses.
- Substantial 4700+ sqft building on a .95 acre lot.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,698
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,960
$1.3M
Cap Rate 7%
$938,543
$938.5K
Cap Rate 9%
$729,978
$730.0K
Market Conditions
NOI Build-Up for 4,700 SF
Gross rent
$89.1K $18.96/SF
− Vacancy
−$1.5K −$0.32/SF
EGI
$87.6K $18.64/SF
− OpEx
−$21.9K −$4.66/SF
NOI
$65.7K $13.98/SF
Area
Buncombe County, NC
Vacancy
1.70%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,960
Cap Rate 7%
$938,543
Cap Rate 9%
$729,978
Alternative Uses
Best Use
Specialty Retail
$938.5K
$821.2K – $1.09M
NOI $65,698 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,034 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
8k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 22%
Hotels & Casinos 17%
Home Improvements & Furnishings 11%
State Employees Credit Union
Shops & Services
3,790 visits/mo
0.4 miles
Thai Basil
Dining
1,870 visits/mo
0.5 miles
Hampton Inn by Hilton Black Mountain
Hotels & Casinos
1,384 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
892 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
446 visits/mo
0.3 miles
Demographics for 28711, NC
14,047
Population
7,563
Households
1.9
Avg Household Size
49
Median Age
54%
College-Educated
92%
High-School Grad
103.9 sq mi
ZIP Area
135
Density / Sq Mi
$69,177
Median Household Income
$38,677
Median Earnings
$1,319
Median Rent
$358,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Black Eyed Susan Catering — 99 Terry Estate Dr, Black Mountain, NC 28711
- Little Sprout Carryout — 404 E State St Suite B, Black Mountain, NC 28711
Frequently Asked Questions
What type of property is this?
Restaurant - Highway business zoned property near downtown Black Mountain.
Where is this restaurant located?
The property is located at 508 W State Street Black Mountain, NC.
What is the asking price?
The asking price for this property is $897,000.
What are key features of this property?
This property features: Prime location within walking distance of downtown Black Mountain.; Highway business zoning allows for diverse commercial uses.; Substantial 4700+ sqft building on a .95 acre lot.
