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Hembree
Hayesville, NC 28904

The Grand at Hayesville Apartments · Land For Sale · 3.61 AC

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Investment Highlights

Fully approved
Growing market

Work force housing opportunity

Executive Summary

This is a fully entitled 100 unit apartments complex for workforce housing. The plans call for 4 3-story core buildings, 2 carriage buildings, a clubhouse with pool and cabana, 2 garages with storage, a maintenance building, and a dog park w/ dog wash. The city/county needs more housing for the work force market. The neighboring county has several significant businesses including a casino, which attracts workers to move to the area. Many of these workers would refer to live near Hayesville for the quieter lifestyle and outdoor recreational opportunities. Unfortunately, there is a lack of houses and apartments available for rental. A market study by RPRG found an excess demand of 148 units through at least February of 2023. The only other apartment complex in the community has a vacancy rate near 0. Projected annual household growth of 103 household per year is projected in the market area over the next several years.

PROPERTY FACTS

Sale Type	Investment	Proposed Use	Commercial Apartment Units
No. Lots	1	Total Lot Size	3.61 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Commercial

Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Apartment Units
Total Lot Size	3.61 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Price	£911,180	Lot Size	3.61 AC
Price Per AC	£252,404

Price	£911,180
Price Per AC	£252,404
Lot Size	3.61 AC

Listing ID: 26401858
Date on Market: 13/08/2022
Last Updated:
Address: Hembree, Hayesville, NC 28904

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