$499,000

About this home

Prime Commercial Opportunity Near the Blue Ridge Parkway An exceptional opportunity to acquire 2.3± acres of commercially positioned property in one of Western North Carolina’s most heavily traveled and sought-after corridors. Located just minutes, and less than .4 mile, from the Blue Ridge Parkway, this property sits directly along the Great Smoky Mountain Expressway (US-23/74) with 390+ feet of four-lane road frontage, offering unmatched visibility between Waynesville and Sylva. Average daily traffic count is over 24,000, placing it squarely in the path of both local and tourist traffic year-round. The property is home to the former Balsam Motel, along with a residential house and an additional building, all of which offer substantial potential for updating, repositioning, or complete redevelopment. With its combination of acreage, highway exposure, and proximity to major destinations, the site provides a flexible canvas for a wide range of commercial or investment uses. The motel part of the property (12 units) have sustained lots of water damage due to a long term leak in the roof. The property was last operated as a motel in the early to mid 1990s. The property will take substantial work and vision, but could provide tremendous potential to the next owner. Visibility and accessibility define the value of this location. Direct access from a major highway, strong daily traffic counts, and immediate proximity to the Blue Ridge Parkway create a setting well suited for businesses or developments that benefit from consistent exposure. Surrounded by mountain views, outdoor recreation, and established regional attractions, the property sits at the crossroads of travel, tourism, and growth. Whether envisioned as a revitalized motel or boutique lodging destination, a mixed-use or commercial redevelopment, a destination restaurant or retail concept, or a long-term investment in a high-demand mountain corridor, the possibilities here are extensive. Opportunities offering this level of frontage, location, and development flexibility are becoming increasingly rare in Western North Carolina. Offered at 20826 Great Smoky Mountain Expressway in Waynesville, this property represents a compelling chance to secure a highly visible and versatile site in one of the region’s most desirable and heavily traveled areas.

Property details

MLS #

CAR4332918

Property type

Hotel/Motel

Subdivision

N/A

Status

Active

Days on market

137

On market date

January 5, 2026

Stories

2

Total bathrooms

N/A

Garage spaces

N/A

Parking spaces

15

Lot size

N/A

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).