35 Mountain Parkway
About This Property
Lake Adger encompasses approximately 438 acres of water and 14 miles of shoreline, offering opportunities for boating, kayaking, fishing, and swimming. The surrounding Lake Adger community spans approximately 3,250 acres and features 13 miles of private equestrian and hiking trails, creating a setting centered around nature and outdoor recreation. Build your custom home surrounded by wooded acreage while enjoying access to both the mountains and the lake.
Conveniently located near Highway 9 and approximately six miles from Ingles in Lake Lure, the property also provides access to Asheville and Hendersonville, NC, as well as Greenville and Spartanburg, SC. Whether you're envisioning a full-time residence or a private mountain and lake retreat, this acreage offers plenty of space to bring your vision to life!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 20, 2026 | Listed by Dash Carolina | $245,000 | |
| Listed by Dash Carolina | |||
| Apr 24, 2026 | Sold | ||
| Sold | |||
| Apr 1, 2026 | In contract | - | |
| In contract | |||
| Mar 17, 2026 | Listed by Jim Smith & Associates Inc | $299,900 | |
| Listed by Jim Smith & Associates Inc | |||
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Discover a truly spectacular lake front opportunity on beautiful Lake Adger in the charming Mill Spring, North Carolina area. This wonderful property offers breathtaking, wide-open water views that create the perfect backdrop for your dream home or getaway retreat. Enjoy a prime building site ideally positioned to take full advantage of the scenery, with plenty of space to design what you envision. The setting is private and peaceful, providing a serene escape while still offering the convenience of easy access to Highway 9 for quick trips to near by towns, dining and amenities. Whether you are looking to build a full time residence or a relaxing vacation spot, this exceptional lake front lot combines natural beauty, accessibility and tranquility - everything you have been searching for in water front property. Come and experience the views and imagine the possibilities.
Lake Adger is a 438 acre lake with 14 miles of pristine shoreline. It is a planned community with miles of equestrian/walking trails. It is located near the Tryon International Equestrian Center, Lake Lure, Hendersonville NC and Spartanburg/Greenville SC.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017