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    Dual Income Property on Highway Title is generated by Realmo AI

    3021 Spartanburg Highway, East Flat Rock, NC 28726

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    For Sale
    $545,000

    COMMERCIAL - East Flat Rock, NC

    Property size:
    1,500 SF
    Lot size:
    0.59 Acres
    Price / SF:
    $363/SF
    Added:
    Feb 19, 2026
    Days on Market:
    91
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 3021 Spartanburg Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CC
    Standard status
    Active
    APN
    102514
    Size
    1,500 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Description
    US176 ON

    Utilities

    Heating system
    Heat Pump (Heating), Ductless (Heating)
    Cooling system
    Ductless

    Building Details

    Year built
    1992

    We can help!

    Listing Contact
    Johnny Duncan
    Johnny Duncan

    Listing agent Johnny Duncan

    Listing office BluAxis Realty 101 E Allen St, Ste 102, Brevard, NC

    Listing date Feb 19, 2026

    MLS# 4349060

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Dual Income Streams: Remodeled 2‑bedroom residential unit and a 1,500 sq ft climate‑controlled commercial building provide immediate and reliable revenue.
    • Prime Location: High‑traffic frontage on US Highway 176 (Spartanburg Highway) offers excellent visibility and accessibility.
    • Community Commercial Zoning: Provides flexibility for various business uses, expansions, or owner‑occupied scenarios.
    • Turnkey Investment: Fully leased and income‑producing units offer immediate cash flow with minimal vacancy risk.
    • Versatile Commercial Building: The 1,500 sq ft commercial building includes a dedicated office, two bathrooms, and two large bays.
    • Remodeled Residential Unit: The 1992 manufactured home has been completely remodeled with modern finishes.

    Overview

    This turnkey investment property is located in East Flat Rock and offers dual income potential. Zoned Community Commercial, the property features road frontage on Spartanburg Highway (US Highway 176). The property includes two fully leased, income-producing units. The first unit is a remodeled 1992 2-bedroom, 2-bath manufactured home (14'x70') with modern finishes. It is currently occupied by a tenant, providing residential rental income. The second unit is a 1,500 sq ft climate-controlled commercial building that includes a dedicated office area, two bathrooms, and two large bays. This structure is suitable for automotive services, storage, workshops, retail, or professional operations. The bays and interior spaces are fully climate-controlled. This building is also currently leased, adding commercial income to the property's portfolio. The property is situated on a 0.59-acre lot. The Community Commercial zoning provides flexibility for future uses, expansions, or owner-occupied scenarios.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Pharmacy Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    East Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.414902
    Latitude
    35.272935

    FAQs

    What type of property is this?
    Mixed-use property - Turnkey investment property with residential and commercial income streams.
    Where is this mixed-use property located?
    The property is located at 3021 Spartanburg Highway East Flat Rock, NC.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: Dual Income Streams: Remodeled 2‑bedroom residential unit and a 1,500 sq ft climate‑controlled commercial building provide immediate and reliable revenue.; Prime Location: High‑traffic frontage on US Highway 176 (Spartanburg Highway) offers excellent visibility and accessibility.; Community Commercial Zoning: Provides flexibility for various business uses, expansions, or owner‑occupied scenarios.
    (828) 606-5546
    We can help!
    Listing Contact
    Johnny Duncan
    Johnny Duncan
    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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