Property profile

278 Haywood Rd Asheville, NC 28806

OFF-MARKET
Retail space
Property ID
US53-1741196
16,662 SF 0.55 ac lot Built 1965
Individually Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 278 Haywood Road in Asheville, NC, presents a unique investment opportunity. The substantial building boasts a total of 17,500 square feet, situated on a prominent 0.55-acre corner lot. The main level, encompassing 8,755 square feet, enjoys excellent visibility directly on Haywood Road, offering convenient access to the vibrant River Arts District and New Belgium Brewing, with downtown Asheville just minutes away. A full basement, mirroring the upper level's square footage at 8,755 square feet, provides ample space, featuring two garage doors and three restrooms. This lower level has housed successful automotive and lawnmower businesses for over three decades. Currently, the upper level is partially occupied by month-to-month tenants—a venue and a salon—generating a combined monthly rental income of $4,200. The upper level features hardwood floors, while the lower level showcases stained concrete. A fenced rear parking lot offers convenient parking for tenants and customers. The roof was recently replaced in May 2021. A portion of the upper level may be available for lease on a month-to-month basis while the building is on the market. The asking price is firm at $3,200,000. Showings are best conducted during business hours.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1965
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 16,662 SF
Lot 0.55 ac (23,958 SF)
Zoning code DEED DATE: 05/19/1994 DEE
APN 9638-74-1157-00000
UPID US53-1741196

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hair Salon
  • Interior Design
  • Auto Repair Shop
  • Hair Salon Nail Salon
  • Auto Repair Shop

Location

278 Haywood Rd Asheville, NC 28806-4463
Asheville metro Census 1000 ASHEVILLE, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.43M
Blend (final) Blend
$2.43M

Owner & transaction history

since 2021
1 recorded transaction
2021
Price N/A

Zoning & alternative use

DEED DATE: 05/19/1994 DEE · Asheville, NC
Top alternative use upside
Medical building $3.8M +12.1%
Commercial (general) $3.6M +6.2%

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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