price reduction! - opportunity zone - 8.24-acre retail redevelopment opportunity

135 Sugarloaf Road, Hendersonville, NC, Henderson 28793

Development Land

C-3 - Highway Business District

Added: 2021-02-02 Updated: 2021-05-26

Active $11,500,000

Drone video: https://youtu.be/ZgdHurL428w This site has had a very successful 30-year retail history as The World of Clothing, located on I-26 at the cloverleaf exchange of I-26 and Four Seasons Blvd in Hendersonville, NC. The property currently includes 112,033 SF of retail space and a 14,880 SF 3-story office on 8.24-acres of premium land. The site has ingress and egress from 3 streets. This huge site is a prime redevelopment opportunity for multi-family and/or retail that wants quick access to the interstate and the rest of Western NC. Asheville is located just 20 miles to the northwest. In addition to being located on I-26, the property is in a designated Opportunity Zone. OZ’s were created by the Tax Cuts and Jobs Act of 2017 and encourage investors to buy and improve properties in certain areas of the market. In exchange, investors receive massive tax benefits that can eliminate capital gains on those reinvested funds.

Listing contacts

Kevin Jennings
Phoenix Commercial, LLC
(828) 275-2346

Documents

Sale Brochure

Median household income (5-mile radius) 53,211

Renters occupied (5-mile radius) 34%

Num of competitors (5-mile radius) 24

Sq.Ft. per capita (1-mile radius) 77.02

5x5 unit average price $58

5x10 unit average price $76

10x10 unit average price $112

Ceiling height 12 ft

Minimum ceiling clearance 8 ft

Number of floors 1

APN # 9579-56-0884 and 9579-46-9642

Lot Size (acres) 8.24

Zoning C-3 - Highway Business District

Year renovated 1991

Physical Occupancy 60%

Gross leasable area 126,913

Year Built 1981

Analyze the location

Feasibility study

Site with successful 30-year retail history
Ingress and egress from three streets
8.24-acres with easy access to I26
Located in an Opportunity Zone
67,000 cars per day visibility
Amazing visibility from I-26

This site has had a very successful 30-year retail history as The World of Clothing, located on I-26 at the cloverleaf exchange of I-26 and Four Seasons Blvd in Hendersonville, NC. The property currently includes 112,033 SF of retail space and a 14,880 SF 3-story office on 8.24-acres of premium land. The site has ingress and egress from 3 streets. This huge site is a prime redevelopment opportunity for multi-family and/or retail that wants quick access to the interstate and the rest of Western NC. Asheville is located just 20 miles to the northwest. In addition to being located on I-26, the property is in a designated Opportunity Zone. OZ’s were created by the Tax Cuts and Jobs Act of 2017 and encourage investors to buy and improve properties in certain areas of the market. In exchange, investors receive massive tax benefits that can eliminate capital gains on those reinvested funds.

Drive Time:

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price reduction! - opportunity zone - 8.24-acre retail redevelopment opportunity

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