Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    000 Russ Ave Waynesville, NC 28786

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    000 Russ Ave Waynesville, NC 28786

    View on Map
    • Commercial real estate
    • 9.29 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 000 Russ Ave

    Lot size
    9.29 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 9.29-acre parcel presents a remarkable opportunity for commercial development in Waynesville, NC. Strategically located in the ETJ (Extra Territorial Jurisdiction) of Waynesville, this expansive property boasts convenient access via two points of entry off Russ Avenue and one access point from Golf Course Road, ensuring excellent visibility and accessibility. City water and sewer services are readily available, simplifying infrastructure needs and reducing development costs. The property's generous size makes it ideally suited for a variety of commercial ventures, including multi-family housing developments. The versatility of this land allows for a wide range of potential uses, catering to diverse business needs. The property includes two distinct parcel identification numbers (PINs): 8616-46-0500 and 8616-36-9614, providing clear and concise ownership documentation. This is a rare opportunity to acquire a substantial commercial land holding in a desirable location with excellent infrastructure support. Its prime location and ample space offer significant potential for substantial return on investment. Don't miss this chance to secure this exceptional property and shape its future. Contact us today to learn more and schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Waynesville
    County
    Haywood
    State
    North Carolina
    Longitude
    -82.9851
    Latitude
    35.4972

    Comparable in this City

    • Value Estimation by Request
      1,000 SF

      62 Overbrook Dr

      Commercial real estate • 1,000 SF
      62 Overbrook Dr, Waynesville, NC 28786
      View Details
    • Value Estimation by Request
      24.40 Acres

      Shiloh Tr.

      Land • 24.40 Acres
      0 Shiloh Tr., Waynesville, NC 28786
      View Details
    • Value Estimation by Request
      2,039 SF

      321 Boundary St

      COMMERCIAL (GENERAL) • 2,039 SF
      321 Boundary St, Waynesville, NC 28786-3205
      View Details
    • Value Estimation by Request
      3,668 SF

      1402 Dellwood Rd

      COMMERCIAL (GENERAL) • 3,668 SF
      1402 Dellwood Rd, Waynesville, NC 28786-6914
      View Details
    • Value Estimation
      $1,685,000
      9,827 SF

      30 Town Ctr Loop

      COMMERCIAL (GENERAL) • 9,827 SF
      30 Town Ctr Loop, Waynesville, NC 28786-6874
      View Details
    • Value Estimation by Request
      19.40 Acres

      00 Woodland Dr

      Commercial real estate • 19.40 Acres
      00 Woodland Dr, Waynesville, NC 28786
      View Details

    Similar Nearby for Sale

    • $899,000
      1.77 Acres

      Waynesville Shooting Range Business

      Established Indoor Range, 1.77 Acres
      17 Palmer Rd, Waynesville, NC 28786
      View Details
    • $2,300,000
      0.72 Acres

      Waynesville Commercial Property Investment

      Seven-unit building, prime location, mountain views
      297 Haywood St, Waynesville, NC 28786
      View Details
    • Contact for pricing

      Waynesville Redevelopment Assemblage Opportunity

      1.53 acres with 15 units, redevelopment potential in Waynesville.
      1659 S Main St, Waynesville, NC 28786
      View Details
    • $1,900,000

      Prime Commercial Land Available

      2.12 acres with road frontage in central retail district.
      2145 S Main St, Waynesville, NC 28786
      View Details
    • $3,400,000

      Commercial Land Near Waynesville Commons

      16+ acres of commercial land with highway visibility.
      00 Hyatt Creek Rd, Waynesville, NC 28786
      View Details
    • $889,000

      Prime Commercial Property For Sale

      Approximately 4.96-acre commercial property with city water and sewer.
      38 Hall Top Rd, Waynesville, NC 28786
      View Details

    Similar Nearby for Lease

    • $2,495 /Mo
      3,600 SF

      Versatile Commercial Building in Bethel

      Charming 3,600+ sqft commercial building in the heart of Bethel.
      62 Birdsong Trl, Waynesville, NC 28786
      View Details
    • $4,000 /Mo
      4,200 SF

      Cannabis/Hemp Cultivation Operation For Rent

      Thriving cannabis/hemp cultivation operation in the Blue Ridge Mountains.
      80 Allegiance Ln, Waynesville, NC 28786
      View Details
    • $2,495 /Mo

      Bethel Commercial Building For Lease

      Charming commercial building in Bethel with versatile space and accessibility.
      62 Birdsong Trl, Waynesville, NC 28786
      View Details
    • $2,000 /Mo
      747 SF

      Renovated Office Space For Lease

      Move-in ready office space with modern upgrades and convenient location.
      491 Allens Creek Rd, Waynesville, NC 28786
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    000 Russ Ave
    Waynesville, NC 28786
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    000 Russ Ave, Waynesville, NC, 28786

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!