Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
    New search
    Property profile & analytics
    OFF-MARKET
    Land

    0 Morgan Dr, Penrose, NC 28766

    11.63 ac lot
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Land
    Lot 11.63 ac (506,603 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Try Rey
    Ask anything about this address in plain English.
    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    You own Morgan Dr?
    List it free. Reach 20,000 daily buyers.
    We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
    List this address →
    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