Updated Dec 4, 2024
Chicago Buyer Acquires 422-Acre Land In Fletcher, NC For $6.75M
$6,750,000
Building Size
—
Asset Type
Land
Closing
Jan 19, 2024
About this deal
AI
A buyer from Chicago has set a record for the most expensive residential land purchase in Henderson County history by acquiring a 422-acre lot at 9999 North Bearwallow Road in Fletcher, NC. The land, situated in a prime location, offers ample space for potential development or personal use. The transaction took place on January 19, 2024, and the sale price was $6,750,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $6,750,000
- Location: Fletcher, NC
- Address: 9999 North Bearwallow Road
- Market: Fletcher, NC
- Acres: 422
The buyer was represented by D'Ann Ford from Sotheby's International Realty, showcasing the expertise and reputation of the brokerage in facilitating such significant transactions. This purchase marks a landmark moment for the real estate market in Henderson County, solidifying its allure among buyers seeking prime residential land opportunities.
Market Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93