120 Old Balsam Rd Waynesville, NC 28786

Property Details for 120 Old Balsam Rd

Year built

1955

Lot size

1.65 lot acres

Property type

Commercial real estate

Description

This exceptional commercial property presents a unique investment opportunity in the thriving Waynesville, NC market. Encompassing 1.65 acres, the site includes three existing apartment units and a substantial block building exceeding 3600 square feet. The property is comprised of three separate parcels, offering flexibility for redevelopment or continued operation of the existing structures. The buildings are sold "as is, where is," allowing for creative vision and customization. Note that a portion of the land falls within the 100 and 500-year floodplains. This prime location offers unparalleled convenience, situated just around the corner from major retailers like Walmart and Best Buy, and within the burgeoning South Main Street area. The property's proximity to Highway 23/74 ensures easy access to both Sylva and Asheville, expanding its market reach and appeal. The South Waynesville Residential Medium Density Mixed Used Zoning designation opens doors to a variety of commercial development possibilities, making this an ideal investment for entrepreneurs and developers seeking a strategic foothold in a rapidly growing community. The existing structures provide immediate income potential while the land offers significant long-term growth prospects. This is a rare chance to acquire a substantial commercial property in a highly desirable location.