Property profile

564 Mills Gap Rd Fletcher, NC 28732

OFF-MARKET
Land
22.06 ac lot
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Property summary

AI-generated overview

This exceptional 22.06-acre commercial land parcel presents a unique investment opportunity. Located in Fletcher, North Carolina, adjacent to 564 Mills Gap Road and behind a Dollar General, this property boasts high visibility and accessibility from both Burney Mountain Road and Mills Gap Road, experiencing approximately 4,187 vehicles per day. Situated just five miles east of Asheville Regional Airport, it benefits from its strategic location within a thriving commercial corridor, including logistics and other commercial properties. The property is also conveniently located near the Village at Windstone, a gated community of high-value single-family homes. Zoned M-1 (Manufacturing District), this versatile land allows for a wide range of uses, including mini-warehouses, storage facilities, retail spaces, banks, professional services, and restaurants. Fletcher's growth trajectory is promising, with a projected 3.79% population increase within a five-mile radius from 2024 to 2029. The area's strong demographics include a population of approximately 48,304 residents and an average household income of approximately $92,794 within a five-mile radius. This property is being offered via an absolute $1 auction with no reserve, taking place November 4-6, 2024. This presents a rare chance to acquire significant acreage in a rapidly developing area with favorable zoning and excellent access. Due diligence documents are available.

Property profile

Verified
Property type Land
Lot 22.06 ac (960,934 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bank Credit Union
  • Discount Store

Location

564 Mills Gap Rd Fletcher, NC 28732
Fletcher metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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