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    1644 Broadstone Road Banner Elk, NC 28604

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    For Sale
    $1,095,000

    COMMERCIAL - Banner Elk, NC

    Property size:
    5,100 SF
    Lot size:
    2.91 Acres
    Added:
    Feb 28, 2026
    Days on Market:
    58
    Last Refresh:
    Apr 27 at 7:06 am

    Property Features for 1644 Broadstone Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    5,100 SF
    Lot size
    2.91 Acres

    Building Details

    Year built
    1989

    We can help!

    Listing Contact
    Kim Mateiko

    Listing agent Kim Mateiko

    Listing office Century 21 Mountain Vistas 8857 HWY 105 S Unit 2, Boone, NC

    Listing date Feb 28, 2026

    MLS# 260165

    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

    Versatile Valle Crucis Commercial Estate

    Located in the historic Valle Crucis area of Banner Elk, North Carolina, this 5,100 sq. ft. property offers a versatile space suitable for various business ventures. The property's floor plan can accommodate a retail boutique, spa and wellness center, art gallery, or bed and breakfast, catering to the High Country's tourism. It can also serve as a refined family estate or multi-generational retreat. The property features expansive, light-filled rooms and a fully-equipped second living quarters, suitable for guests, a private home office, or a short-term rental. The property includes flex rooms, workshops, and storage areas, with 12+ parking spaces, and two outbuildings on approximately 3 acres. Updates include real stone on the exterior, kitchen paint and hardware, granite kitchen counters, hardwood floor repairs upstairs, hardwood floor installation downstairs, shower renovations, house entry renovation, new doors, new roofing, an outdoor brick terrace with a stone fireplace, extensive paint, lighting, fans, landscaping, carpeting, relocation of the laundry room, replacement of the copper plumbing, a new tank-less gas water heater, and new multiple HVAC units. The property is being offered furnished and is currently in a rental program. The property is located close to the Mast General Store, area ski resorts, snow tubing, hiking, fly fishing, and the Blue Ridge Parkway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

    Restaurant Real Estate Agency Hotel & Motel Bar & Pub Bed & Breakfast Travel Agency Restaurant Florist

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

    Similar Places Nearby

    • Mountainside Lodge BB — 1709 broadstone rd, banner elk, nc 28604

    Location Insight

    • Map
    • Local Demand
    City
    Banner Elk
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.762749
    Latitude
    36.197618

    Nearby Similar for Sale

    • $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
      View Details
    • $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?
    Bed & breakfast - 5,100 sq ft property with limitless opportunities in Banner Elk.
    Where is this bed & breakfast located?
    The property is located at 1644 Broadstone Road Banner Elk, NC.
    What is the asking price?
    The asking price for this property is $1,095,000.
    What are key features of this property?
    This property features: High‑visibility location in historic Valle Crucis suitable for business or residential use.; 5,100 sq ft with flexible floor plan adaptable for retail, spa, gallery, B&B, or large family estate.; Includes fully‑equipped second living quarters ideal for guests, home office, or short‑term rental.
    (919) 264-6137
    We can help!
    Listing Contact
    Kim Mateiko
    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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