Property Description

Exceptional value-add investment opportunity just minutes from downtown Waynesville. This 5,760± SF freestanding commercial building currently generates $38,868 in annual rental income from three established tenants while offering approximately 3,200± SF of shell space ready for lease-up, expansion, or owner occupancy.Positioned at a highly visible corner location adjacent to the new traffic circle, the property benefits from improved access and traffic flow connecting Asheville Highway, Russ Avenue, and downtown Waynesville. The location is poised to capitalize on continued residential growth, with numerous new homes under construction within approximately one mile and multiple apartment communities recently completed or nearing completion nearby. This expanding residential base creates increasing demand for retail, medical, office, service, and restaurant users seeking convenient access to one of Haywood County's fastest-growing corridors.Net, potential income with leased up space is approximately $59,000 creating a capitalization rate of nearly 8%. With immediate cash flow, substantial lease-up potential, ample parking, and excellent visibility, this property offers investors and owner-users the rare combination of current income and significant upside in a thriving market just moments from downtown Waynesville.

Property Features