Former Walgreens with
510 NC Hwy 9 Black Mountain, NC
For Sale
Contact for pricing
Drive-thru space at signalized corner near Ingles grocery store.
Property Size2,010 SF
Lot Size0.37 Acres
Price / SF$397.51
Days on Market292
Property Features for 510 NC Hwy 9
General Information
Standard status
Active
Size
2,010 SF
Lot size
0.37 Acres
Property subtype
RETAIL
Listing Agency:
Whitney Commercial
(828) 674-2120
Listed By:
Jason Burk, CCIM
(828) 674-2120
Source:
Moodyscre
Added: Oct 10, 2025
Changed: Jul 10
Last Checked: Jul 25 at 10:29AM
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 Whitney Commercial
Investment Insights
Based on property information with market context.
This former Walgreens offers potential for businesses requiring a drive-thru, such as a bank, restaurant, or pharmacy. The property benefits from daily traffic driven by the adjacent 113,000 square foot Ingles grocery store. It features visibility and signage options on the building front and a large pylon sign. The property includes 23 parking spaces. Visible from I-40, the property is located on a signalized corner. The available space measures 2,010 square feet.
Key Highlights
- Drive‑thru capability, suitable for various businesses.
- High visibility due to location on a signalized corner.
- Proximity to a high‑traffic Ingles grocery store (113,000 sq ft) driving daily trips.
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 | $38.1k | $18.96 |
| − Vacancy | −$648 | −$0.32 |
| EGI | $37.5k | $18.64 |
| − OpEx | −$9.4k | −$4.66 |
| NOI | $28.1k | $13.98 |
2,010 SF · lease $18.96/SF/yr · vacancy 1.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$401.4K
$351.2K – $468.3K
NOI $28,096 @ 7.0% cap · market cap 3.52%
Second Best
Retail
$336.7K
$294.6K – $392.8K
NOI $23,568 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$635.6K
$556.1K – $741.5K
NOI $44,491 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Walgreens — 510 NC-9, Black Mountain, NC 28711
- Ingles Pharmacy — 550 NC-9, Black Mountain, NC 28711
- COVID-19 Drive-Thru Testing at Walgreens — 510 NC-9, Black Mountain, NC 28711
- Salim Patwa — 540 NC-9, Black Mountain, NC 287113829
- Petrus Van Der Linde — 540 NC-9, Black Mountain, NC 287113829
Frequently Asked Questions
What type of property is this?
Drug store - Drive-thru space at signalized corner near Ingles grocery store.
Where is this drug store located?
The property is located at 510 NC Hwy 9 Black Mountain, NC.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Drive‑thru capability, suitable for various businesses.; High visibility due to location on a signalized corner.; Proximity to a high‑traffic Ingles grocery store (113,000 sq ft) driving daily trips.
