OPPORTUNITY ZONE PROPERTY: 1.37-acres off Patton Avenue

981 Patton Avenue Asheville, NC 28801

981 Patton Avenue, Asheville, NC, 28801
981 Patton Avenue, Asheville, NC, 28801
FOR SALE
Property Type:
Commercial Land Development
Amount:
$750,000
Last Verified:
Apr 19, 2019

Highlights

  • Adjacent to residential neighborhoods w/ over 21K households within a 3-mile radius
  • Located in an Opportunity Zone providing investor huge capital gains
  • shelter
  • •Adjacent to large center slated for complete renovation
  • • Existing structure given no value but could be renovated
  • Close to public transit
  • Curb cut on Hawkins Lane
  • City water & sewer on site
  • Seller is very motivated
  • Existing structure is given no value but could be renovated
  • QOZ property awards investor huge tax incentives
  • Curb cut on Hawkins Lane
  • City water & sewer on site

Description

SVN / BlackStream, LLC is pleased to offer for sale this
development site located in Asheville, NC. The parcel is 1.37
acre, located on the high volume business corridor of Patton
Avenue, and zoned Highway Business for a wide variety of
commercial uses. Located less than a mile from downtown
Asheville and I-26 / I-240, with major tax incentives available,
this site is perfect for re-development.
- 47,000 vehicles per day
- high visibility position
- in booming west Asheville
- ideal for climate-control storage, professional offices, or
NNN retail
QUALIFIED OPPORTUNITY ZONE (QOZ) PROPERTY
Benefits:
1. Postpone paying capital gain taxes for 10 years.
2. Partial tax exemption on realized gains for 5 years (10%) and
7 years (15%).
3. Gross income exclusion for the post-acquisition gains if held
for at least 10 years.
*The information contained herein was obtained from sources
deemed to be reliable. However, SVN / BlackStream, LLC makes
no guarantees, warranties, or representations as to the
completeness or accuracy thereof. SVN / BlackStream, LLC
recommends a commercial appraisal before listing. This is not a
commercial appraisal.
Property Description
981 PATTON AVE | 981 PATTON AVENUE, ASHEVILLE, NC 28801 SVN | BlackNearby residential neighborhoods w/ over 21,000 homes in a 3-mile radius


*The information contained herein was obtained from sources deemed to be reliable. However, SVN / BlackStream, LLC makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. SVN / BlackStream, LLC recommends a commercial appraisal before listing. This is not a commercial appraisal.

The 1.37-acre property is located just off of Patton Avenue and close to a plethora of retail shopping, fast food establishments, banking facilities, and adjacent to the K-mart Shopping Center. The subject property is on the "going home" side of Patton Avenue and serves as a primary route to West Asheville, Leicester, and Candler. This location would be ideal for office, medical or small residential condo development.

Lot Size: 1.37 acres

Map of 981 Patton Avenue, Asheville, NC, 28801

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.