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94 Glenn Bridge Road

Arden, NC 28704
  • $9,500,000
  • STATUS: Active
  • ON SITE: 126 Days
  • ID#: 3886978
UPDATED: 37 min ago
$9,500,000
  • 0
    BEDS
  • 17.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1967
County:
Area:

School Ratings & Info

Canopy MLS logo Offered by Pulliam Properties, Inc: 828-684-4344. Copyright 2022 Canopy MLS. All rights reserved.

Description

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.

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MLS Grid logo Based on information submitted to the MLS GRID as of 2022-11-26T07:32:51.97 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Modern Mountain Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2022 Canopy MLS.

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94 Glenn Bridge Road Arden, NC 28704

  • Price: $9,500,000
  • Status: Active
  • On Site: 126 Days
  • Updated: 37 min ago
  • ID#: 3886978
0
Beds
0
Baths
0
½ Baths
17.37
Acres
1967
Built
County:
Buncombe
Area:
Arden
Property Description
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.
Exterior Features

Construction Materials Block Foundation Details Slab Road Frontage Type City StreetPaved RoadHighway Road Responsibility Public Maintained Road Roof Rubber Structure Type Industrial

Interior Features

Cooling Office Only Flooring Concrete Heating Natural Gas Office Sq Ft 6000 Warehouse Sqft 115000

Property Features

Accessibility Features Two Or More Access Exits CCRSubject To No Commercial Location Description Business Park Documents Aerial Photo Elevation 2000 Flood Plain No Hoa Subject To None Inclusions BuildingLand Inside City YN Yes New Construction YN No Number Of Docks Total 6 Possible Use Commercial Property Sub Type Commercial Property Sub Type Secondary Manufacturing Restrictions N/A Restrictions Description Na Special Listing Conditions Subject To Lease Sprinkler Wet Transaction Type For Sale Utilities City SewerCity WaterElectricity Available Zoning Description Emp



MLS Grid logo Based on information submitted to the MLS GRID as of 2022-11-26T07:32:51.97 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Modern Mountain Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2022 Canopy MLS.

Digital Millennium Copyright Act
 
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Canopy MLS logo Offered by Pulliam Properties, Inc: 828-684-4344. Copyright 2022 Canopy MLS. All rights reserved.