Black Mountain Investment
508 W State Street Black Mountain, NC 28711
508 W State Street, Black Mountain, NC, 28711
$985,000
For Sale
$985,000
Highway business zoned property near downtown Black Mountain.
Property Size4,700 SF
Lot Size0.95 Acres
Price / SF$209.57
Days on Market138
Property Features for 508 W State Street
General Information
- Standard status
- Active
- Size
- 4,700 SF
- Lot size
- 0.95 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1945
Listing agency
NAI Beverly-Hanks
(828) 258-6399
Listed by
Rick Tisdale · License #197215
(828) 258-6399
Source
Naiglobal
Added: Mar 6 Updated: Jul 6 at 10:29AM Checked: Jul 21 at 8:30AM
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 NAI Beverly-Hanks
Investment Insights
Based on property information with market context.
This commercial property offers 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
- Fantastic location walking distance to downtown Black Mountain.
- Highway business zoning allows for many commercial uses.
- Over 4700 sqft on a .95 acre lot.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.1k | $18.96 |
| − Vacancy | −$1.5k | −$0.32 |
| EGI | $87.6k | $18.64 |
| − OpEx | −$21.9k | −$4.66 |
| NOI | $65.7k | $13.98 |
4,700 SF · lease $18.96/SF/yr · vacancy 1.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$938.5K
$821.2K – $1.09M
NOI $65,698 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,034 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Coach House Seafood ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Highway business zoned property near downtown Black Mountain.
Where is this conventional 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 $985,000.
What are key features of this property?
This property features: Fantastic location walking distance to downtown Black Mountain.; Highway business zoning allows for many commercial uses.; Over 4700 sqft on a .95 acre lot.
