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202 Overlook DriveSpruce Pine, NC 28777MLS Number 3473443

  • Price: $1,250,000The price has recently decreased
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Price Down Payment Interest Rate Years

Est. Mortgage: $/month

Federal 30-year interest rate: 4.35% last updated on 2019-02-21

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

  • 12000Square Feet
  • 1.52Acreage
  • 2005Year Built
  • 30Parking Spaces

Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.

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  • Parking Spaces30


  • Year Built2005
  • ConstructionTypeSite Built
  • Square Feet12000


  • Acreage1.52
  • VOW1


  • Number of Photos20
  • DatePhoto2019-02-10T15:07:06

Basic Information

  • StatusACT
  • Broker IDNCM5805000
  • Property TypeCommercial
  • Property Sub TypeOther
  • List Price$1,250,000
  • Broker NameFoxfire Real Estate, LLC
  • ListingBoardIDLand of The Sky Association of Realtors
  • MLS Number3473443


  • Modification Date02/11/2019


  • Building Number202
  • StreetOverlook
  • TownSpruce Pine
  • StateNC
  • Zip28777
  • CountyMitchell


  • RoofArchitectural Shingle

Your Local Office

WNC Mountain Realty
23 Songbird Lane
Weaverville NC, 28787

Office: 828-231-3117

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