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TBD Jefferson Avenue, West Jefferson, NC 28694

West Jefferson
Local realty services provided by:CENTURY 21 Heritage Realty
TBD Jefferson Avenue,West Jefferson, NC 28694
$849,000
  • 6.03 Acres
  • Lots / Land
  • Active
Listed by: william aceto, todd rice
Office: blue ridge realty & inv. boone 895
MLS#:255639
Source:NC_HCAR

Price summary

  • Price:$849,000

About this home

Prime multifamily investment opportunity in West Jefferson, NC, offering 5.77± acres with approx. 300 +/- ft of high-visibility frontage on S Jefferson Hwy (NC-221 Business). Strategically located within a federally designated Opportunity Zone, this R-7 zoned parcel allows for medium-density residential development with 40% maximum lot coverage. Setbacks include 25 ft front and 10 ft sides, with access via Vista Drive (60 ft ROW). The property is surrounded by established commercial uses including quick-service restaurants, gas stations, and hotels—making it ideal for a high-demand residential development or assisted/independent living 55+ community. Conceptual plans available for an 80-unit multifamily project across 5 buildings and 31,905 SF ( proposal has not been approved by the local municipality ) Projected pro forma NOI of $775,936 yields a 6.58% cap rate, with projected pricing at $147,500 per unit or $369.85/SF. The proposed unit mix features 40 one-bedroom and 40

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Home facts

  • Listing ID #:255639
  • Added:275 day(s) ago
  • Updated:March 05, 2026 at 04:08 PM

Structure and exterior

  • Lot area:6.03 Acres
  • Lot Features:Level, Rolling Slope, Steep Slope, Wooded

Schools

  • High school:Ashe County
  • Elementary school:Westwood

Utilities

  • Water:Public, Water Available
  • Sewer:Public Sewer, Septic Needed

Finances and disclosures

  • Price:$849,000
  • Tax amount:$6,774

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