Town & Mountain Realty

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94 Glenn Bridge RoadArden, NC 28704Sale Price: $8,050,000

  • Sale Price: $8,050,000
  • 337 Days Since Sale
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Federal 30-year interest rate: 6.94% last updated on May 23, 2024
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  • $9,500,000List Price
  • 17.37Acreage
  • 125,000Square Feet
Sold

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125,000sf warehouse building on 17.4 acres, with land approved for additional development. Prime location - There is no comparable site in greater Asheville. Compelling opportunity for a value-add buyer to hold the asset until the below market lease expires ($222,000 NOI for 3 years), then re-tenant at $7+ psf. Future $875,000 NNN income = $13M value (at 6.5% cap). Surplus Land Value is an additional $2M+. Approvals granted to build 93,000sf of additional warehouse/ or could support 100 multifamily units. Detailed site plans are available. Building details: - Warehouse area 1- 20,000sf: 26' clear with 4 docks - Warehouse area 2 - 37,000sf: 17' clear with 2 docks - Production area - 58,000sf: 13' clear/ perimeter windows - 6,000sf office space - new TPO roof 15 year warranty remains - clean Phase 1

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Listed by Steven Shepard of Pulliam Properties,Inc (sshepard@pulliamproperties.com)

Listing Sold by Pulliam Properties, Inc

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