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    10545 Nc Highway 105 S Banner Elk, NC 28604

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    Pending
    $599,000

    COMMERCIAL - Banner Elk, NC

    Property size:
    11,000 SF
    Lot size:
    0.69 Acres
    Added:
    Dec 6, 2025
    Days on Market:
    134
    Last Refresh:
    Apr 19 at 10:06 am

    Property Features for 10545 Nc Highway 105 S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Size
    11,000 SF
    Lot size
    0.69 Acres

    Building Details

    Year built
    1978

    We can help!

    Listing Contact
    Ronald Kent

    Listing agent Ronald Kent

    Listing office EXP Realty LLC 16 Biltmore Ave, Charlotte, NC

    Listing date Dec 6, 2025

    MLS# 259292

    Copyright © 2026 High Country Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building on Highway 105

    This mixed-use property in Banner Elk, North Carolina, presents an opportunity to own a building with both business and rental income potential. The property, with over 11,000 square feet, includes a new roof. It features two three-bedroom apartments and a large retail space on the ground floor, complete with offices and a loading area. The ground floor space, comprising approximately 5,500 square feet, could be divided into separate units or potentially converted into additional apartments. In addition to the two apartments, there is also open storage space and another apartment upstairs. The property currently houses a retail business. Situated next to the Blue Ridge Cantina (formerly the Grandview Restaurant) on heavily traveled Highway 105, the property benefits from high traffic and visibility. The 0.69-acre lot offers a rare opportunity to own a commercial building with apartment rentals in a high-demand area. The septic system needs verification for potential uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Banner Elk
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.794094
    Latitude
    36.146743

    Nearby Similar for Sale

    • $1,200,000

      Versatile Valle Crucis Commercial Estate

      5,100 sq ft property suitable for various business ventures.
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    • $1,200,000
      5,100 SF

      Versatile Valle Crucis Estate

      5,100 sq ft property with limitless opportunities.
      1644 Broadstone Road, Banner Elk, NC 28604
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    • $599,000

      Mixed-Use Building with Rental Income

      Large mixed-use property with retail space and apartments for sale.
      10545 Nc Highway 105, Banner Elk, NC 28604
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    • $1,095,000

      Multi-Use Building Near Beech Mountain

      Versatile property with office space and income-generating residential units.
      3026 Beech Mountain Parkway, Banner Elk, NC 28604
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial building with apartments and retail space on busy highway.
    Where is this mixed-use property located?
    The property is located at 10545 Nc Highway 105 S Banner Elk, NC.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: High‑traffic location on Hwy 105 with excellent visibility; Significant rental income potential from two large 3‑bedroom apartments; Large 11,000+ sq ft building offers versatile use options
    (336) 937-9123
    We can help!
    Listing Contact
    Ronald Kent
    Learn More
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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
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