30 Lookout Rd 6,792 SF Specialty Building Offered at $2,559,568 CAD at a 7.50% Cap Rate in Asheville, NC 28804

bridlepathavl.com
The Bridle Path Inn at 30 Lookout Road is one of the most
defensible and irreplaceable hospitality investment positions
in Western North Carolina — and one of the rarest income-
producing assets available anywhere in Asheville today.
LEGALLY PROTECTED OPERATING RIGHTS
Since 2018, Asheville has prohibited new whole-unit short-term
rentals in all non-resort zones. The Bridle Path Inn operates
under a city-confirmed legal nonconforming use that predates
this prohibition and transfers to a new owner upon sale —
verified in writing by Asheville Development Services. No new
buyer can establish this operating right anywhere in the city
at any price.
THE NUMBERS
- Asking Price: $1,850,000
- 2026 Gross Revenue (locked & contracted): $137,400+
- Upper STR unit alone: $99,000+ already booked for 2026
- Peak gross revenue: $141,082 (2024)
- Annual operating expenses: ~$27,500 (excl. debt service)
- NOI: ~$92,500–$110,000 (conservative baseline)
- Stabilized cap rate: 5.0%–5.9%
- Full STR conversion cap rate: 7.8%–11.1%
- GRM: ~13.5x
THE PROPERTY
- 4 fully renovated independent units
- Every unit has a full kitchen
- All LTR units on 90-day termination leases — full STR
conversion possible within one quarter of closing
- Among Asheville's first designated Bed & Breakfasts —
established brand, loyal guest base, strong Airbnb ranking
- Only property in neighborhood with city-confirmed
nonconforming use for hospitality operations
BUYER STRATEGY OPTIONS
1. Current Mixed Model — $137,400+ gross, proven today
2. All Units STR — $180K–$240K+ gross, legally protected
3. Full Luxury B&B — $150K–$200K+, weddings/retreats/events
4. Owner-Operator — live in renovated lower unit, earn
$100K+ from remaining three units
5. Corporate Group Rental — $175K–$225K+, whole-property
buyouts, film, executive offsites
6. Individual Unit STR Portfolio — 4 independent STRs
under one legally protected address
OFFERING
This property is offered exclusively off-market to qualified
investors. It will not be listed on the MLS. Full investment
memorandum, verified booking records, lease agreements, and
financial documentation available upon request.
More information: bridlepathavl.com