743 Haywood RdAsheville, NC 28806

Property Details for 743 Haywood Rd

Year built

1930

Construction

CONCRETE BLOCKS

Lot size

0.62 AC

Property size (Sq ft)

6,388 SF

Zone code

DEED DATE: 12/29/2010 DEE

Property type

Retail properties

Property subtype

Retail space

APN

9638-14-9702-00000

APU

963814970200000

Description

This exceptional 7,937 square foot restaurant and music hall, located at 743 Haywood Road in Asheville, North Carolina, presents a unique investment opportunity. Built in 1930 and situated on a 0.18-acre lot, this property boasts a vibrant history and modern upgrades. The space is zoned HR-1:CORE and features a fully equipped commercial kitchen, designed for optimal workflow and efficiency. The layout allows for concurrent multiple events, showcasing its versatility. The venue includes state-of-the-art audio and lighting production, along with infrastructure for show-streaming, making it ideal for a variety of entertainment options. Beyond the 7,937 square feet of heated interior space, there's an additional 1,224 square foot patio. The property's impressive features include three bars (two on the main floor and one upstairs), equipped with 30 beer taps (24 downstairs and 6 upstairs), and a glycol-chilled system. The building's capacity is 494 people. Currently vacant, this turn-key operation is ready for a new owner to capitalize on its established reputation and prime location in the heart of West Asheville. The asking price is $2,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,272,597

  6.5%

  $2,097,782

  7%

  $1,947,940

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,325,329

  Geo Method

  $1,325,329

• Alternative Use

  Use

  Valuation

  Residential

  $1,769,557

  Hospitality

  $1,620,905

  Educational

  $1,348,574

  Medical

  $1,394,954

  Retail

  $2,097,782

Location Insight

City

Asheville

County

Buncombe

State

North Carolina

Latitude

35.5783

Longitude

-82.5929

CBSA code

11700

CBSA name

ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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