Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1980 Dellwood City Rd Waynesville, NC 28786
    Back to Search
    Property profile & analytics

    1980 Dellwood City Rd Waynesville, NC 28786

    View on Map
    • Retail properties & Spaces
    • 1.04 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1980 Dellwood City Rd

    Year built
    1997
    Lot size
    1.04 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This exceptional investment opportunity presents a fee-simple owned (land and building) convenience store and gas station in Waynesville, North Carolina. Located on US Highway 19 (24,300 VPD) and near the intersection of US Highway 19 and US Highway 276 (15,600 VPD), this property benefits from high visibility and accessibility. The 2,550 square foot building sits on a 1.04-acre lot and is currently under a 15-year absolute NNN lease (commencing April 1, 2023, and expiring March 31, 2038), with a credit-rated tenant. The lease includes 10% rent bumps every five years, providing consistent income growth. The property boasts a strong Net Operating Income (NOI) of $204,493, making it an ideal, management-free investment for passive investors. Its central location between Knoxville (93 miles) and Charlotte (143 miles) further enhances its appeal. The property's proximity to Haywood Christian Academy and Shining Rock Classical Academy adds to its strategic positioning. Built in 1997, this asset offers excellent visibility and access from US Highway 276, with two access points. The tenant is responsible for all property maintenance, taxes, and insurance, minimizing landlord responsibilities. This is a truly passive investment opportunity with significant long-term potential.

    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
    -82.9986
    Latitude
    35.5285

    Comparable in this City

    • Value Estimation by Request
      2,929 SF

      1737 Main St

      SERVICE STATION WITH FOOD MART • 2,929 SF
      1737 Main St, Waynesville, NC 28786-4508
      View Details
    • Value Estimation by Request
      2,952 SF

      1783 Main St

      SERVICE STATION WITH FOOD MART • 2,952 SF
      1783 Main St, Waynesville, NC 28786-4508
      View Details
    • Value Estimation by Request
      2,020 SF

      344 Dellwood Rd

      SERVICE STATION WITH FOOD MART • 2,020 SF
      344 Dellwood Rd, Waynesville, NC 28786-2984
      View Details
    • Value Estimation by Request
      1,400 SF

      494 Pigeon St

      SERVICE STATION WITH FOOD MART • 1,400 SF
      494 Pigeon St, Waynesville, NC 28786-4429
      View Details
    • Value Estimation by Request
      2,325 SF

      1980 Dellwood Rd

      SERVICE STATION WITH FOOD MART • 2,325 SF
      1980 Dellwood Rd, Waynesville, NC 28786-6204
      View Details
    • Value Estimation by Request
      2,808 SF

      843 Russ Ave

      SERVICE STATION WITH FOOD MART • 2,808 SF
      843 Russ Ave, Waynesville, NC 28786-4147
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Location Flat Land

      1.34 acre flat land in high-traffic area.
      1727 S Main St, Waynesville, NC 28786
      View Details
    • $2,200,000
      0.81 Acres

      Waynesville Mixed-Use Investment Opportunity

      Retail and residential income property in high-growth Waynesville area.
      62 Overbrook Dr, Waynesville, NC 28786
      View Details
    • $749,000
      0.47 Acres

      Waynesville Retail Space - High Visibility

      Prime Retail Location, High Traffic Area, Ample Parking
      1478 Dellwood Rd, Waynesville, NC 28786
      View Details
    • $2,200,000
      1,000 SF

      Waynesville Mixed-Use Investment Opportunity

      Retail and residential spaces in high-growth area, seller financing.
      62 Overbrook Dr, Waynesville, NC 28786
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Storefront Available on Retail Corridor

      Storefront property with side and rear access for lease.
      263 Waynesville Plz, 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
    • $23 SF/Yr
      54,450 SF

      Open Commercial Space in Waynesville

      Remodel-ready space with high visibility and ample car traffic.
      1902 S Main St, 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.
    1980 Dellwood City Rd
    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
    1980 Dellwood City Rd, 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!