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Price Down Payment Interest Rate Years
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Est. Mortgage: $/month

Federal 30-year interest rate: 6.7% last updated on 2022-09-29

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94 Glenn Bridge Road Arden NC 2870494 Glenn Bridge Road Arden NC 2870494 Glenn Bridge Road Arden NC 2870494 Glenn Bridge Road Arden NC 28704
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  • 121,000Square Feet
  • 17.37Acreage
  • 1967Year Built
  • ActiveMLS Status
Rare opportunity to purchase an exceptionally well located, large warehouse/production building on 17.4 acres, with land approved for additional development. Prime Arden location. The existing single tenant lease (47 months remains/ no renewal rights) is dramatically below fair market. Current fair market rent of $7.50 psf would produce income of $900,000/ year, a forward CAP rate of 10%, exclusive of surplus land value. The approximately 6.5 acres of surplus land fronting Old Shoals Rd has been approved for construction of an additional 93,000/sf. This land could also readily accommodate climate controlled self-storage or apartment construction. FMV of the surplus land is $250,000/ acre, or better.
Listed by Steven Shepard of Pulliam Properties,Inc

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Basic Information

  • ForeclosureN
  • List Price$9,500,000
  • MLS NumberCAR3886978
  • MLS StatusActive
  • Property SubTypeCOMMERCIAL

Property

  • Acreage17.37
  • Parking Spaces

Other

  • View Count6

Tax Information

  • Taxes$1,440,700

Building

  • Elevation 2000
  • Foundation Details ["Slab"]
  • Square Feet121,000
  • Year Built1967

Exterior

  • Roof ["Rubber"]

Property Information

  • Construction Materials ["Block"]
  • Inclusions Building, Land

Location

  • Building Number94
  • CountyBuncombe
  • Cross Street Old Shoals
  • StateNC
  • StreetGlenn Bridge Road
  • Zip28704

Interior

  • Flooring ["Concrete"]

Utilities

  • Cooling ["Office Only"]
  • Heating ["Natural Gas"]
  • Utilities ["City Sewer", "City Water", "Electricity Available"]

Your Local Office

WNC Mountain Realty
23 Songbird Lane
Weaverville NC, 28787

Office: 828-231-3117

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