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SVN BlackStream, LLC in Asheville, North Carolina sold the following three properties: 645 Flint Hill Road, 465 Industrial Park Drive, and 11 Grove Street. The SVN BlackStream advisors involved on these transactions are Michael Hoffman and Kevin Jennings.

“Closing these three transactions in December was the culmination of a very productive, record-setting year for us in Asheville” according to Michael Hoffman, SVN BlackStream Executive Director, Western North Carolina.

 

645 Flint Hill Road

Alexander, NC 28701

This property is an income producing duplex, that was 100% leased at the time of the sale. Built-in 1990 and renovated in 2017, Asking price was $179,900 and sold for $186,298. It was purchased by an individual investor from Florida. It sold for above asking within two months of signing the listing with the owner.

 

465 Industrial Park Drive

Boone, NC 28607

This property is a 9,420 SF industrial building on 3.4 acres. Built in 1996, the former owner was Highland International, Inc., a national engineered paint systems manufacturer. It was purchased by Booneshine Brewing Company, LLC, a local brewer. They will be moving their brewing facility to the property after extensive renovations. The asking price was $720,000, and it was under contract within one week of signing the listing agreement.

 

11 Grove Street

Asheville, NC 28801

www.thegrovehouse.com

This Property is a historically significant building that was built in 1924. It was Asheville’s first YWCA. Grove House Entertainment Complex is currently home to Scandals Nightclub, Club Eleven, and The Boiler Room. It was sold by Silver Foxx, LLC and the buyer was GBX 11 Grove, LLC, an Ohio limited liability company. The former owner plans to continue operating the businesses for an undetermined period. The buyer has not disclosed any long-term plans for the property. The asking price was $2,900,000.

“I can’t think of a better way to end 2017 and start 2018 with positive momentum,” said Hoffman.