Sign Up Successful!
You now have access to more from Realmo!
    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

    168 Tarnhill Dr Flat Rock, NC 28731

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $239,000

    Two-acre corner lot in Kenmure with utilities and amenities.

    Property Features for 168 Tarnhill Dr

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Tanya Mayces
    Source: Corcoran

    Listing Agent: Tanya Mayces

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Oversized Lot in Kenmure Development

    This oversized 2-acre corner lot is located in the historic Kenmure development and is suitable for building a home. City water, underground utilities, natural gas, and fiber are available. The property features two buildable acres with minimal elevation change and is conveniently located near the front of the neighborhood, close to the gate, clubhouse, and amenities. The lot includes mature hardwood trees and a small seasonal stream. Depending on the build site, winter mountain views may be possible. Kenmure amenities include golf, tennis, pickleball, bocce courts, a fitness center with equipment, a heated outdoor pool, and a saltwater indoor pool. Association fees cover road maintenance and security. Additional membership packages are available for dining, fitness, and golf. Kenmure is located in Flat Rock, close to downtown Hendersonville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Hotel & Motel Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.4438908
    Latitude
    35.2452725

    Nearby Similar for Sale

    • $718,000
      1.10 Acres

      Two-Unit Property with Garage/Workshop Potential

      Two separate living units on 1.1 acres near Green River.
      40 Country Bear Ln, Flat Rock, NC 28731
      View Details
    • $525,000
      0.86 Acres

      Flat Rock Duplex Investment Opportunity

      Up-to-date duplex with strong rental history and long-term tenants.
      544 Tracy Grove Rd, Flat Rock, NC 28731
      View Details
    • $525,000
      0.84 Acres

      Flat Rock Duplex Investment Opportunity

      Up-to-date duplex with strong rental history in Flat Rock.
      34 Duncan Rd, Flat Rock, NC 28731
      View Details
    • New
      $525,000
      0.84 Acres

      Flat Rock Duplex Investment Opportunity

      Up-to-date duplex with strong rental history and long-term tenants.
      50 Duncan Rd, Flat Rock, NC 28731
      View Details
    • $3,483,000

      Highland Lake Development Opportunity

      Lakeside property ideal for a boutique resort or wellness retreat.
      447 Lily Pad Ln, Flat Rock, NC 28731
      View Details
    • $549,000

      Income Producing Mobile Home Park

      Established mobile home park in Hendersonville, NC with income potential.
      160 Dudley Dr, Flat Rock, NC 28731
      View Details
    • $6,800,000
      60,769 SF

      Highland Lake Inn & Resort

      Historic Flat Rock, NC Resort - 68 Keys
      86 Lily Pad Ln, Flat Rock, NC 28731
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two-acre corner lot in Kenmure with utilities and amenities.
    Where is this residential land & home lot located?
    The property is located at 168 Tarnhill Dr Flat Rock, NC.
    What is the asking price?
    The asking price for this property is $239,000.
    What are key features of this property?
    This property features: - Oversized 2-acre corner lot in the desirable Kenmure development.; - City water, underground utilities, natural gas, and fiber available.; - Close proximity to the gate, clubhouse, and amenities.
    Request Owner's contact information
    168 Tarnhill Dr Flat Rock, NC 28731
    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.
    168 Tarnhill Dr
    Flat Rock, NC 28731
    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
    168 Tarnhill Dr Flat Rock, NC 28731
    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

    We can help!
    Listing Contact
    Tanya Mayces
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.