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Property profile & analytics

1 Old Ml Ln Weaverville, NC 28787

  • Turn key restaurants
  • 7,686 SF
  • 0.50 lot acres
OFF-MARKET
Value Estimation
$490,000
Last Sale
Feb 02, 2024
$500,000
Location Intelligence
Property ID
US53-1779588
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Turn key restaurants

Property Details for 1 Old Ml Ln

Year built
1910
Construction
WOOD FRAME
Lot size
0.50 lot acres
Property size
7,686 SF
Zone code
DEED DATE: 01/20/1986 DEE
Property type
Turn key restaurants
APN
9742-13-7098-00000
APU
974213709800000

Description

This exceptional property presents a rare opportunity to acquire a piece of Weaverville's rich history. The offering encompasses three historic structures, including the main mill building, a remodeled 1940s house, and a remodeled cottage, all situated on a sprawling 5.4-acre lot. The main mill building, dating back to circa 1905, boasts over 5,000 square feet of space, complemented by a 1,400 square foot covered patio. Its strong local history and architectural character are undeniable assets. The remodeled 1940s house offers approximately 1,100 square feet of living space, including three bedrooms and two bathrooms, a rear deck, and a large unfinished daylight basement. The remodeled cottage provides an additional 600 square feet of living space, featuring one bedroom, one bathroom, a kitchenette, and a 300 square foot rear deck. The property enjoys approximately 1,000 feet of bold water frontage along Reems Creek. An old barn is also included on the property. The property is zoned for mixed-use commercial and short-term rentals, making it ideal for a variety of ventures, including event spaces. The property is not located within Weaverville city limits but benefits from city water and sewer. Importantly, the structures sustained no flood damage during Hurricane Helene. The property consists of two parcels: 1 Old Mill Lane, zoned EMP, and 9 Old Mill Lane, zoned R-3. This unique offering combines historical charm with significant development potential. The asking price is $3,500,000.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $500,000
  • CAP approach

    CAP return
    Estimation
    6%
    $480,000
    6.5%
    $520,000
    7%
    $520,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $425,000
    Geo Method
    $435,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $550,000
    Retail
    $410,000
    Mixed-Use
    $540,000
    Hospitality
    $405,000
    Educational
    $545,000
    Residential Income
    $495,000
    Energy
    $430,000
    Income-Based Land
    $405,000
    Food Service
    $460,000

Location Insight

  • Map
  • Local Demand
City
Weaverville
County
Buncombe
State
North Carolina
Longitude
-82.5643
Latitude
35.6846
CBSA code
11700
CBSA name
ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$2,334
$0.00
$0.00
$364,500
-
$40,400
$324,100
$364,500
More about this property
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