This conveniently located office space sits on nearly an acre parcel with ample road frontage and is adjacent to The Village at Poe Mill Redevelopment Project! The property is desirable for many uses, including a move-in ready office space, commercial business, or a rezoned development opportunity. The neighborhood offers a tremendous opportunity for a value-added investment, with The Village at Poe Mill nearby. The project will transform the 11-acre property into a massive development with 428 apartments, restaurants, a clubhouse with green space, water fountains, community gathering areas, and roadways. The plans will bring a thriving, vibrant community to the area. As it is currently constructed, the office building is built of block and sits at roughly 2, 700 SF, featuring a timeless brick exterior and elongated windows with a mid-century modern flair. The spacious, open-floor layout is conducive to various businesses, including retail, food & beverage, office, and professional services. Connected to the main floor are three private offices, a kitchen, a storage room, two public restrooms, and one private full bath. The kitchen features cabinetry, commercial double sinks, and preparation tables. The interior has been repainted and refreshed for the next owner, and the HVAC unit was replaced in the last five years. The building is equipped with a security and alarm system to ensure the safety of the occupiers. Ample parking can accommodate up to ten vehicles, with an existing paved circular driveway. The parcel is roughly 0. 85 acres, large enough to accommodate townhouses or mixed-use development. The parcel is shaped as a rectangle, with frontage on Buncombe Road and 1st Avenue, and features gently sloping terrain, perfect for development. The owner accommodates creative investment strategies, and site plans are available upon request.
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Our Executive Mortgage Banker:
Our Insurance Division:
$499,995
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $399,996 | $399,996 | $399,996 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $515 | $515 | $515 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,729 | $2,659 | $3,373 |
Total Monthly Payment | $3,318 | $3,248 | $3,962 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.