445 6Th AveHendersonville, NC 28792

Property Details for 445 6Th Ave

Year built

1925

Lot size

0.35 AC

Property size (Sq ft)

3,960 SF

Zone code

108906~C-2

Property type

Office buildings

APN

9568993105

APU

9568993105

Description

This exceptional 0.35-acre property at 445 6th Avenue E, Hendersonville, NC, presents a rare opportunity to acquire a well-located warehouse within the city limits. Currently leased until February 2025, this property offers significant potential for investors and end-users alike. The warehouse boasts five overhead doors, providing convenient access for loading and unloading, along with central heating and air conditioning for year-round comfort. A spacious office area adds to the functionality and appeal of this property. The property is fully fenced and secured with lockable gates on both Boxcar Street and Williams Street, ensuring enhanced security. The presence of city water, sewer, and gas utilities adds to the convenience and value of this offering. A key advantage is the city of Hendersonville's authorization for the construction of an additional building, subject to zoning setbacks and permitted use, presenting a significant expansion opportunity. This represents a unique investment prospect in a high-demand market characterized by a limited supply of warehouses in Western North Carolina and the Henderson County submarket. The possibility of a lease buyout with the current tenant allows for flexible occupancy timelines to suit the buyer's needs. This is a truly exceptional opportunity not to be missed.

• CAP approach

  CAP return

  Valuation

  6%

  $866,056

  6.5%

  $799,436

  7%

  $742,334

• Comparable approach

  Method

  Valuation

  Relative Method

  $326,027

  Geo Method

  $326,027

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,630,450

  Retail / Commercial

  $825,016

  Mixed-Use / Specialty

  $813,353

  Hospitality / Lodging

  $585,376

  Institutional / Educational

  $842,442

  Residential Income

  $985,657

  Multifamily

  $1,230,500

  Automotive / Energy

  $722,093

  Parking / Income-Based Land

  $257,803

  Restaurant / Food Service

  $404,417

  Healthcare / Senior Housing

  $843,022

Location Insight

City

Hendersonville

County

Henderson

State

North Carolina

Latitude

35.3197

Longitude

-82.4558

CBSA code

11700

CBSA name

ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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