Under Contract

TBD Jefferson Avenue

West Jefferson, NC 28694
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Acres6.03

Acres(Lot)

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 two-bedroom apartments with projected gross potential income of $964,800 annually. The area benefits from population growth, increasing rental demand, and spillover from the Boone market. Water and sewer are available at the site. This is a rare opportunity to secure a almost shovel-ready, high-yield asset in this High Country Community of West Jefferson. Property has road frontage on both Jefferson Ave and Vista Dr. Jefferson Ave is a State maintained road and Vista Dr is a town maintained road.

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Detail Ic Property Details

Property Type : Land

Price : $849,000

AD Id : 79875905

MLS Id : 255639

Lot Size : 6.03 Acres(Lot)

County : Ashe

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Feature Features

  • Interior Features

    High Speed Internet

  • Lot Information

    Main Square Feet: 6.028 Acres Lot Size Acres: 6.028 Lot Description: Sloped, Level, Rolling Slope, Wooded, Steep Slope

    Property Information

    Subdivision: None Source Property Type: Land MLS Area Minor: Ashe County Zoning Description: R-7

  • Listing Price Information

    Listing Price: $849000 Cash, Conventional, Owner May Carry

  • Tax Information

    Parcel Number: 192966773462 Tax Lot: N/A Annual Tax: $6774

  • Parking Information

    Shared Driveway

  • School Information

    Elementary School: Westwood
    Junior High School:
    Senior High School: Ashe County
  • Utility Information

    Cable Available, Water Available
  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
TBD Spruce Street, West Jefferson, NC, 28694 $139,900 -- -- -- 0.21 Acre(Lot)
Crown Oak Lane, West Jefferson, NC, 28694 $85,000 -- -- -- 1.16 Acres(Lot)
TBD Liberty Court Drive, West Jefferson, NC, 28694 $7,000 -- -- -- 0.38 Acre(Lot)
TBD Seventy Sixth Drive, West Jefferson, NC, 28694 $11,500 -- -- -- 0.31 Acre(Lot)
TBD Longview Drive, West Jefferson, NC, 28694 $8,000 -- -- -- 0.20 Acre(Lot)
Land, West Jefferson, NC, 28694 $785,000 -- -- -- 105.06 Acres(Lot)
LOT 37 Smoke Rise Path, West Jefferson, NC, 28694 $79,000 -- -- -- 1.70 Acres(Lot)
LOT 42 Smoke Rise Path, West Jefferson, NC, 28694 $69,000 -- -- -- 1.64 Acres(Lot)
LOT 38 Crown Spruce Lane, West Jefferson, NC, 28694 $130,000 -- -- -- 1.25 Acres(Lot)
Mile High Lake Road, West Jefferson, NC, 28694 $99,900 -- -- -- 0.50 Acre(Lot)

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of High Country Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 High Country Association of REALTORS®. All Rights Reserved.

ByOwner last updated this listing 06/16/2026 @ 13:11

MLS: 255639 LISTED BY: Bill Aceto, Blue Ridge Realty & Inv. Boone 895 828-263-8711 SOURCE: High Country Association of REALTORS

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