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    Morgan Dr Penrose, NC 28766

    • Land
    • 11.63 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Morgan Dr

    Lot size
    11.63 lot acres
    Property type
    Land

    Description

    Exceptional 11.63-acre commercial land parcel in Penrose, North Carolina, presents a unique investment opportunity. Boasting breathtaking, high-elevation panoramic views of both Pisgah National Forest to the north and DuPont State Recreational Forest to the south, this property is aptly named "Spirit of the Mountains." Several potential building sites exist, with one particularly advantageous location near the driveway offering incredible long-range views and convenient access. The land is easily accessible via a paved road leading to the exclusive "Spirit of the Mountains" enclave. This prime location offers unparalleled proximity to the charming towns of Brevard, Flat Rock, and Hendersonville, providing easy access to amenities and services. The property's setting between two expansive national forests provides endless recreational opportunities, including hiking, mountain biking, and exploring numerous waterfalls. This remarkable property represents the pinnacle of Western North Carolina living, offering a rare combination of natural beauty, accessibility, and commercial potential. Asking price is $349,000. The property is located at Morgan Dr, Penrose, NC 28766, in Transylvania County.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Penrose
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.6223
    Latitude
    35.2331

    Comparable in this City

    • Value Estimation by Request
      2.30 Acres

      Morgan Dr

      Land • 2.30 Acres
      0 Morgan Dr, Penrose, NC 28766
      View Details
    • Value Estimation
      $575,000
      2,200 SF

      217 King St

      COMMERCIAL (GENERAL) • 2,200 SF
      217 King St, Penrose, NC 28766
      View Details
    • Value Estimation by Request
      1,800 SF

      1868 Hendersonville Hwy

      COMMERCIAL (GENERAL) • 1,800 SF
      1868 Hendersonville Hwy, Penrose, NC 28766
      View Details
    • Value Estimation
      $510,000
      636 SF

      212 Akita Hls Ln

      COMMERCIAL (GENERAL) • 636 SF
      212 Akita Hls Ln, Penrose, NC 28766-0230
      View Details
    • Value Estimation by Request
      1,500 SF

      100 Cascade Lk Rd

      COMMERCIAL (GENERAL) • 1,500 SF
      100 Cascade Lk Rd, Penrose, NC 28766
      View Details
    • Value Estimation
      $2,790,000
      4,325 SF

      96 Windward Pt

      COMMERCIAL (GENERAL) • 4,325 SF
      96 Windward Pt, Penrose, NC 28766
      View Details

    Similar Nearby for Sale

    • $225,000
      8.70 Acres

      8.7 Acres in Penrose, NC

      8.7 acres in Penrose, NC with multiple opportunities.
      250 Paradise Cove Rd, Penrose, NC 28766
      View Details
    • $420,000
      7.04 Acres

      Unrestricted Land with Mountain Views

      7.04 acres near DuPont and Pisgah Forests, ideal mountain escape.
      unit Parcel 3 Whitener Rd, Penrose, NC 28766
      View Details
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    Penrose, NC 28766
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    Realmo Value Estimation

    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.

    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.

    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
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