FOR SALE $2,050,000

GRANDFATHER CENTER
3990 & 4004 NC Highway 105 South
Banner Elk, NC 28604
COLLETT | Charlie Ellis
ACRE | James Milner
direct: 704.206.8302
cellis@collettre.com
direct: 828.719.0408
james@appalachiancre.com
FOR SALE $2,050,000
PROPERTY DETAILS
DEMOGRAPHIC SNAPSHOT (2015)
• Grandfather Center is a ±33,831 SF Shopping Center
5 mile
shadow-anchored by Lowes Foods. McDonald's and Rite Aid
Population
1,724
are just adjacent to the property.
Projected Pop. ('20) 1,738
Avg. HH Income
$72,893
• ±1,000 SF and larger individual suites.
• Great location near the residential communitites of Linville
Ridge, Grandfather Golf and Country Club and Linville Golf
Club.
• Located at the signalized intersection of NC 184 and
Hwy 105. NC 184 leads to the Town of Banner Elk along with
travel to the ski resorts of Sugar Mountain and Beech
Mountain. Hwy105 N leads to Newland and Linville, NC.
Hwy 105 S leads to Foscoe and Boone, NC
10 mile
15 mile
6,743
6,839
$64,857
26,250
26,732
$55,874
PROPERTY OVERVIEW
NAME
Grandfather Center
ADDRESS
3990 & 4004 NC Highway 105 South
MARKET
Banner Elk, NC
TOTAL SIZE
33,831 SF
TOTAL OCCUPANCY
64%
YEAR DELIVERED
2000 - 2002
ROOF & PARKING LOT AGE Original
PARCEL ID
186703232838 & 186703246102
TOTAL LAND SIZE
3.71 AC
DEBT
Free & Clear
STABILIZED NOI
$128,101
PROFORMA NOI
$220,629
ASKING PRICE
$2,050,000
MARKET SUMMARY
Grandfather Center is located in the Village of Sugar Mountain which is nestled in the
heart of the Blue Ridge Mountains. Banner Elk and surrounding area is home to some of the
highest peaks east of the Mississippi River. The average population year round is approximately
18,000. During peaks seasons the population can swell to over 75,000 people enjoying the cool
temperatures and relaxed lifestyle.
Avery County is also home to some of the most popular seasonal festivals:
Grandfather Mountain Highland Games, Woolly Worm Festival, Fine Arts & Masters Crafts
Festival, just to include a few. During the summer, Avery County fills with vacationers that flock
to over five resorts: Linville Golf Club, Linville Ridge Country Club, Grandfather Golf & Country
Club, Hound Ears Club, Elk River Club, Diamond Creek and more. During the Winter months,
Avery County becomes the top destination for skiiers with Sugar Ski Mountain, Beech Mountain
Resort, Appalachian Ski Mountain, Hawksnest Resort.
UPPER BUILDING
SUITE
TENANT
SF
1.
AVAILABLE
1,011
2.
AVAILABLE
994
3.
Gentiva Health Services
3,467
4.
AVAILABLE
1,400
5.
Special Additions
3,236
6-7.
AVAILABLE
5,919
8.
Tanner Doncaster
1,306
9.
Distinctive Cabinetry
1,428
10.
Mountain Grounds Coffee
1,466
LOWER BUILDING
SUITE
ER
LOW
UPPER
TENANT
1.
AVAILABLE
1,521
2-3.
Linville Animal Hospital
2,560
4-5.
Verizon
2,236
6.
Perfect Nail & Tan
1,585
7.
AVAILABLE
1,400
8.
Reid's Catering
1,400
9-10
Erick's Cheese & Wine
2,985
SF