Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    The Falls Road Union Mills, NC 28167

    View on Map
    For Sale
    $1,181,250

    LAND - Union Mills, NC

    Lot size:
    64.00 Acres
    Added:
    Dec 4, 2025
    Days on Market:
    121
    Last Refresh:
    Apr 4 at 9:06 am

    Property Features for The Falls Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1617563
    Lot size
    64.00 Acres

    Taxes and HOA fees

    Tax Description
    8 PID, same owner in New Forest Mountain/Shoal Ridge

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well
    Water front
    1

    We can help!

    Listing Contact
    Erika Bradley
    Erika Bradley

    Listing agent Erika Bradley License #307030

    Listing office CENTURY 21 Mountain Lifestyles 1408 Patton Ave. Ste B & D, Asheville, NC

    Listing date Dec 4, 2025

    MLS# 4327364 Listing URL

    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.

    Overview

    Land with Private Waterfall

    This 60+ acre gated property within New Forest Mountain features a private 175-foot waterfall. The land includes flowing creeks and changes in terrain. Private trails lead to sandy-bottom streams and swimming holes. The property also features a tranquil man-made pond, meandering creeks, abundant wildlife, and multiple cleared homesites positioned to offer privacy and mountain views. Underground power and water access are installed. The location provides accessibility, approximately one hour to Asheville or Greenville/Spartanburg, 1.5 hours to Charlotte, and minutes from Lake Lure, Chimney Rock, and Hendersonville. The property also features a trail system and natural recreation areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Union Mills
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.9699
    Latitude
    35.4865

    Nearby Similar for Sale

    • $19,900

      Pinnacle Mountain Land For Sale

      1.71 acre lot with potential mountain views near Lake Lure.
      Pinnacle Parkway, Union Mills, NC 28167
      View Details
    • $35,000

      Residential Land in Hearthstone Ridge

      1.72-acre lot for custom home in Union Mills, NC.
      Chocolate Drop Circle unit: 154, Union Mills, NC 28139
      View Details
    • $85,000

      Unrestricted Land with Creek Access

      2.32 acres of unrestricted land with creek in Union Mills.
      512 Hemphill Road, Union Mills, NC 28167
      View Details
    • $1,060,000

      170 Acres of Pristine Land

      170-acre land with streams, trails, and homesites in Union Mills.
      Painters Gap Road, Union Mills, NC 28167
      View Details
    • $975,000

      Secluded Foothills Land with Creek

      158 acres in North Carolina with homesite and unrestricted potential.
      2921 Painters Gap Road, Union Mills, NC 28167
      View Details
    • $165,375

      Residential Land in Gated Community

      4.31 acres in Union Mills with utilities in place.
      N Tranquility Trail unit: 41, Union Mills, NC 28167
      View Details
    • $650,000

      Secluded Mountain Land with Views

      100 acres of secluded mountain land with abundant wildlife.
      3024 Camp Creek Road, Union Mills, NC 28167
      View Details
    • $126,630

      Union Mills Land with Views

      20+ acre land parcel with mountain views.
      20.32 Acres N Tranquility Trail, Union Mills, NC 28167
      View Details
    • $195,000

      Union Mills Land with Creek

      22.49 acres with mature woods and Frog Creek.
      Frog Creek Road, Union Mills, NC 28167
      View Details
    • $792,750

      Land with Private Waterfall

      17-acre property featuring a 175-foot private waterfall.
      +/-17.73 Acres The Falls Road, Union Mills, NC 28167
      View Details
    • $55,000

      Union Mills Land For Sale

      6.05-acre lot suitable for residential or recreational use.
      Old Morganton Road, Union Mills, NC 28139
      View Details
    • $471,555

      Union Mills Land with Views

      19.59 acres with potential homesite, views, and gated community.
      Shoal Ridge unit: 4, Union Mills, NC 28167
      View Details

    FAQs

    What type of property is this?
    Recreation land - 60+ acre property featuring a private 175-foot waterfall.
    Where is this recreation land located?
    The property is located at The Falls Road Union Mills, NC.
    What is the asking price?
    The asking price for this property is $1,181,250.
    What are key features of this property?
    This property features: Private +/-175‑foot waterfall cascading through the property.; Over 60 acres of gated, infrastructure‑ready land with diverse terrain.; Multiple cleared homesites with unobstructed, long‑range mountain views.
    (828) 702-5970
    We can help!
    Listing Contact
    Erika Bradley
    Erika Bradley
    Real Estate License ID: 307030
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!