240 Mitchelle Dr - Hospitality FOR SALE


Hendersonville, NC 28792
$8,000,000 USD
828-713-2227
240 Mitchelle Dr, Hendersonville, NC for Sale
$8,000,000 USD
Hospitality - FOR SALE
1/31
null | Request Cap Rate

240 Mitchelle Dr
Hendersonville, NC 28792


HIGHLIGHTS

  • Strategic Location: Situated in a designated Opportunity Zone with direct access to two major highways, offering unmatched development potential
  • Ample Acreage: Includes 4 parcels totaling 8.16 acres
  • Infrastructure Ready: Property is shovel-ready with sewer, 3-phase power, gas line, and water line already in place to support various commercial uses
  • Zoning Flexibility: C-3 zoning allows for diverse commercial ventures, from retail centers to mixed-use developments.
  • Rapid Growth Area
  • Tourism Hub: Just 5 minutes from historic downtown Hendersonville, a destination attracting 2 million tourists annually, surrounded by retailers

OVERVIEW

Prime commercial investment opportunity poised for development in ideally situated Opportunity Zone with optimal access to 2 major highways. 4 parcels totaling 7.09 acres includes the successfully operating 48-room Red Roof Inn, available as part of the purchase or for residential conversion combined with a larger housing development on additional acreage. Situated in fast-growing Henderson County, NC between Asheville, NC and Greenville/Spartanburg, SC, this property is surrounded by large national retailers and is shovel ready to take advantage of current and projected growth, including sewer, 3-phase power line, gas line, and water line already in place.C-3 zoning allows for a variety of commercial opportunities. Just 5 minutes from historic downtown Hendersonville, this community attracts approximately 2 million tourists per year and has grown its population by nearly 12% over the last 5 years.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$357 USD /SF

# OF ROOMS

49

PRICE/ROOM

$163,265 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7+ Acres Prime Commercial Real Estate & Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

2002

PARKING SPACES

49

LAND DETAILS

LAND ACRES

7.09 AC

LAND SF

308,840 SF

ZONING

C-3HB

APN/PARCEL ID

9965940,9965941

ASK ABOUT THIS PROPERTY

Amy WoodLooking Glass Realty, SaludaMore Info
828-713-2227

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Amy WoodLooking Glass Realty, SaludaMore Info
828-713-2227

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.