94 Glenn Bridge Road in Arden, NC 28704
Community: Arden in Buncombe County
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125,000sf warehouse building on 17.4 acres, with land approved for additional development. Prime location - There is no comparable site in greater Asheville. Compelling opportunity for a value-add buyer to hold the asset until the below market lease expires ($222,000 NOI for 3 years), then re-tenant at $7+ psf. Future $875,000 NNN income = $13M value (at 6.5% cap). Surplus Land Value is an additional $2M+. Approvals granted to build 93,000sf of additional warehouse/ or could support 100 multifamily units. Detailed site plans are available. Building details: - Warehouse area 1- 20,000sf: 26' clear with 4 docks - Warehouse area 2 - 37,000sf: 17' clear with 2 docks - Production area - 58,000sf: 13' clear/ perimeter windows - 6,000sf office space - new TPO roof 15 year warranty remains - clean Phase 1
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