OPPORTUNITY ZONE PROPERTY: 1.37-acres off Patton Avenue

Listing was updated at: 06/03/2019
Property Overview
Price/Rent PSF $ 1,060,000.00
Asset Type Land
Trade Type Sale
Acres Available 1.37
Date Available 02/20/2019
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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.

SVN / BlackStream, LLC is pleased to offer for sale this redevelopment site located in Asheville, NC.

QUALIFIED OPPORTUNITY ZONE (QOZ) PROPERTY: This QOZ property enables the investor to:
1. Postpone paying 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.

This 1.37 acre, site is located on the extremely busy business corridor of Patton Avenue and zoned Highway Business for a wide variety of commercial uses. Located within a mile of the heart of downtown Asheville and I26 / I240; this site is perfect for re-development. With exposure to more than 47,000 vehicles per day, this site is also an ideal location for any retail business that desires a considerable exposure and visibility.

*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.