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    For Sale (17)

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    Mills River Homesites For Sale
    $1,200,000
    6.91 Acres

    Mills River Homesites For Sale

    Eight-lot subdivision in Mills River with permits ready for construction.

    Old Haywood Rd, Mills River, NC 28759
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    Mills River Development Opportunity
    $935,000
    8.95 Acres

    Mills River Development Opportunity

    Development land in sought-after Mills River location.

    Old Haywood Rd, Mills River, NC 28759
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    Mills River Land For Development
    $935,000
    8.95 Acres

    Mills River Land For Development

    Development opportunity near Asheville, NC with proposed homesites.

    Old Haywood Rd, Mills River, NC 28759
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    Mills River Land For Sale
    $1,200,000
    6.91 Acres

    Mills River Land For Sale

    Eight-lot subdivision in Mills River, ready for construction.

    Old Haywood Rd, Mills River, NC 28759
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    Wooded Homesite in Kenmure Community
    $89,000
    1.20 Acres

    Wooded Homesite in Kenmure Community

    1.2-acre homesite with amenities near downtown Hendersonville.

    360 Kenmure Dr, Flat Rock, NC 28731
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    Mountain View Land Near Asheville
    Contact for pricing
    1.21 Acres

    Mountain View Land Near Asheville

    Private 1.21-acre mountain retreat near Asheville, North Carolina.

    Granny Shepherd Rd, Mars Hill, NC 28754
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    Mars Hill Land Opportunity
    $85,000
    4.92 Acres

    Mars Hill Land Opportunity

    Two adjoining parcels totaling 4.92 acres near Mars Hill.

    44 Poplar Path, Mars Hill, NC 28754
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    Mills River Buildable Lot
    $68,950
    1.02 Acres

    Mills River Buildable Lot

    Buildable lot in High Vista with potential panoramic views.

    9999 Walnut Dr, Mills River, NC 28759
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    Unrestricted Land in Leicester, NC
    $996,300
    41.00 Acres

    Unrestricted Land in Leicester, NC

    41 acres of unrestricted land in Leicester, minutes from Asheville.

    411 Big Sandy Mush Rd, Leicester, NC 28748
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    Land with Lake and Mountain Views
    $175,000
    0.87 Acres

    Land with Lake and Mountain Views

    Lakefront lot with mountain views and deeded lake access.

    Von Trapp Ln, Tuckasegee, NC 28783
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    Land with Wolf Creek Lake Views
    $299,000
    7.09 Acres

    Land with Wolf Creek Lake Views

    7+ acre lot with lake access and sweeping views.

    Von Trapp Ln, Tuckasegee, NC 28783
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    Land in Gated Community
    $72,900
    4.08 Acres

    Land in Gated Community

    4.08 acre lot in premier gated community.

    Ragans Pointe, Columbus, NC 28722
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    Land in Gated Arden Community
    $60,000
    0.94 Acres

    Land in Gated Arden Community

    Nearly one acre lot ready for your dream home!

    808 Stoney Stream Ln, Arden, NC 28704
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    Land Parcel with Mountain Views
    $220,000
    1.38 Acres

    Land Parcel with Mountain Views

    Nearly two-acre parcel bordering protected land with mountain views.

    Red Eft Way, Horse Shoe, NC 28742
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    Lake Lure Class A Lot
    $120,000
    0.15 Acres

    Lake Lure Class A Lot

    Oversized Class A Motor Coach lot with mountain views.

    133 Cornell Cir, Lake Lure, NC 28746
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    Creek Front Homesite in Hillcrest
    $37,900
    1.59 Acres

    Creek Front Homesite in Hillcrest

    Creek front homesite in gated community, partially cleared, financing available.

    19 Sunset Dr, Mill Spring, NC 28756
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    Leicester Land with Septic System
    $89,000
    1.18 Acres

    Leicester Land with Septic System

    1.18 acre lot with installed septic system near Asheville.

    52 Goughes Branch Rd, Leicester, NC 28748
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    One Group WNC LLC
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    One Group WNC LLC
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