Tbd Jefferson Ave West Jefferson, NC 28694
5.77 acre parcel suitable for residential or assisted living development.
Property Features for Tbd Jefferson Ave
General Information
- Standard status
- Active
Source:
Corcoran
Listing Agent: William Aceto
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Multifamily Development Opportunity in West Jefferson
This 5.77± acre parcel in West Jefferson, NC, presents a multifamily investment opportunity. The property features approximately 300 +/- ft of frontage on S Jefferson Hwy (NC-221 Business), offering high visibility. Zoned R-7, the site permits medium-density residential development with a 40% maximum lot coverage. Setbacks are 25 ft front and 10 ft sides. Access is provided via Vista Drive (60 ft ROW). The location is within a federally designated Opportunity Zone. Conceptual plans are available for an 80-unit multifamily project across 5 buildings, totaling 31,905 SF, although these plans have not been approved by the local municipality. The proposed unit mix includes 40 one-bedroom and 40 two-bedroom apartments, with a projected gross potential income of $964,800 annually. Water and sewer are available at the site. The property is surrounded by established commercial uses, including quick-service restaurants, gas stations, and hotels. It is suitable for a high-demand residential development or an assisted/independent living 55+ community. The property has road frontage on both Jefferson Ave and Vista Dr. Jefferson Ave is a State maintained road and Vista Dr is a town maintained road.
Location Intelligence
Current Use by Public Records
Commercial land
Map
- City
- West Jefferson
- County
- Ashe
- State
- North Carolina
- Longitude
- -81.4709
- Latitude
- 36.358
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 5.77 acre parcel suitable for residential or assisted living development.
Where is this commercial land located?
The property is located at Tbd Jefferson Ave West Jefferson, NC.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: - Prime 5.77± acre multifamily development opportunity with high-visibility frontage on S Jefferson Hwy (NC-221 Business).; - Located within a federally designated Opportunity Zone.; - R-7 zoning allows for medium-density residential development, ideal for multifamily or assisted/independent living.