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Property profile

0 Morgan Dr Penrose, NC 28766

OFF-MARKET
Land
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11.63 ac lot

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

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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