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Multifamily

Sky at Canton

228 Pisgah Dr, Canton, NC 28716

Listing Price: $1,500,000

Cap Rate
6.62%
Number of Units
12
GRM
8.01
Occupancy
92.0%
Price/Unit
$125,000
Price/Gross SF
$188.68
Gross SF
7,950

Investment Overview

Marcus & Millichap is pleased to present Sky at Canton, a 12-unit multifamily community built in 1960. The property is uniquely positioned along the Pigeon River in downtown Canton, North Carolina, offering a rare riverfront setting with walkable access to Main Street’s shops and dining. Just 20 minutes from Asheville, the community balances small-town charm with proximity to one of the region’s major cultural and economic hubs.

Sky at Canton benefits from its location across the river from Pisgah High School’s Pisgah Memorial Stadium and next to Sorrell’s Street Park, enhancing its family-friendly and community-oriented appeal. The property is also minutes from Pisgah National Forest, the Blue Ridge Parkway, and the Pigeon River, making it attractive for both long-term residents and short-term renters. With a prime riverfront setting, walkable location, and value-add renovation potential, Sky at Canton represents a rare opportunity to acquire a well-located multifamily property in Western North Carolina with both immediate appeal and long-term growth potential.

Investment Highlights

  • Value-Add Potential: Built in 1960 with opportunities for renovation and rent growth in a strengthening market.
  • Accessibility: Easy access to I-40 and the Blue Ridge Parkway ensures connectivity to Asheville, Waynesville, and beyond.
  • Proximity to Asheville, NC: Only 20 minutes from one of North Carolina's fastest-growing cultural and economic hubs.
  • Riverfront Setting: Situated on the scenic Pigeon River in downtown Canton, NC, enhancing property appeal.
  • Outdoor Recreation: Close to Pisgah National Forest, the Blue Ridge Parkway, and Pigeon River recreation, supporting both long-term housing and short-term rental opportunities.
  • Community Appeal: Across from Pisgah Memorial Stadium and adjacent to Sorrell's Street Park, enhancing lifestyle value for residents.

Exclusively Listed By

Multifamily

Sky at Canton

Listing Price: $1,500,000

Cap Rate
6.62%
Number of Units
12
GRM
8.01
Occupancy
92.0%
Price/Unit
$125,000
Price/Gross SF
$188.68
Gross SF
7,950

Investment Highlights

  • Value-Add Potential: Built in 1960 with opportunities for renovation and rent growth in a strengthening market.
  • Accessibility: Easy access to I-40 and the Blue Ridge Parkway ensures connectivity to Asheville, Waynesville, and beyond.
  • Proximity to Asheville, NC: Only 20 minutes from one of North Carolina's fastest-growing cultural and economic hubs.
  • Riverfront Setting: Situated on the scenic Pigeon River in downtown Canton, NC, enhancing property appeal.
  • Outdoor Recreation: Close to Pisgah National Forest, the Blue Ridge Parkway, and Pigeon River recreation, supporting both long-term housing and short-term rental opportunities.
  • Community Appeal: Across from Pisgah Memorial Stadium and adjacent to Sorrell's Street Park, enhancing lifestyle value for residents.

Investment Overview

Marcus & Millichap is pleased to present Sky at Canton, a 12-unit multifamily community built in 1960. The property is uniquely positioned along the Pigeon River in downtown Canton, North Carolina, offering a rare riverfront setting with walkable access to Main Street’s shops and dining. Just 20 minutes from Asheville, the community balances small-town charm with proximity to one of the region’s major cultural and economic hubs. Sky at Canton benefits from its location across the river from Pisgah High School’s Pisgah Memorial Stadium and next to Sorrell’s Street Park, enhancing its family-friendly and community-oriented appeal. The property is also minutes from Pisgah National Forest, the Blue Ridge Parkway, and the Pigeon River, making it attractive for both long-term residents and short-term renters. With a prime riverfront setting, walkable location, and value-add renovation potential, Sky at Canton represents a rare opportunity to acquire a well-located multifamily property in Western North Carolina with both immediate appeal and long-term growth potential.

Exclusively Listed By

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