1659 S Main St Waynesville, NC 28786

Rare redevelopment assemblage in the heart of Waynesville's South Main corridor: this combined offering includes 1.53 acres with 15 existing rental units across two contiguous parcels, zoned South Main Business District (SM-BD) with flexible commercial and multifamily use potential. Parcel 1 (0.709 acres) includes a freestanding 1,746 sq ft commercial building, a triplex-style stone structure, one duplex, and two freestanding apartments-7 units total. Parcel 2 (0.82 acres) features 8 residential units across multiple cottages and duplexes, with 11 of 12 currently occupied. One unit is uninhabitable due to past flood damage. Existing monthly gross rent exceeds $12,000 across the assemblage, though many units are rented below market. All structures are mid-20th-century and in fair to poor condition, with deferred maintenance, aged roofs, and no central HVAC. This site is priced for land value and upside, not stabilized income. Zoning allows for a wide range of future uses, including multifamily, mixed-use, retail, office, or boutique hospitality. Walkable to Ingles, Walmart, breweries, restaurants, and downtown Waynesville. The parcels back to the newly revitalized Waynesville Inn & Golf Club and sit within the designated South Main Redevelopment District, offering visibility, scale, and access for developers. Combined, the parcels create a rare infill footprint with Main Street frontage, public utilities, and proximity to growing commercial anchors. Buyers may explore adaptive reuse or full redevelopment. Do not disturb tenants. Showings by appointment only. -