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    Class A Logistics Distribution Center Title is generated by Realmo AI

    232 Brown Ridge Rd, Mills River, NC 28759

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    Modern distribution facilities with 36-foot clear heights and ESFR sprinklers, designed for efficient logistics and manufacturing operations.

    Type:Industrial
    Property size:
    293,220 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 2:13 am

    Property Features for 232 Brown Ridge Rd

    General Information

    Standard status
    Active
    Size
    293,220 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2027

    Spaces For Lease

    at 232 Brown Ridge Rd Contact us

    We can help!

    Listing Contact
    P. Randall Bentley, SIOR, CCIM
    P. Randall Bentley, SIOR, CCIM

    Listing agent P. Randall Bentley, SIOR, CCIM License #SC #2953

    Listing office Lee & Associates | Greenville/Spartanburg

    Listing date Jun 2, 2026

    Source Lee-associates

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

    All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | Greenville/Spartanburg

    HighLights

    • Two modern distribution facilities totaling approx. 517,860 SF on a 75‑acre site in Henderson County, NC (Asheville MSA).
    • 36‑foot clear heights with ESFR sprinkler system for high‑capacity storage and logistics operations.
    • Ample truck court depth of 185 feet with multiple loading options to support efficient arrivals and dispatch.
    • Convenient access: I‑26 within 2.4 miles and Asheville Regional Airport within 2 miles.
    • Concrete tilt‑up construction with LED high‑bay lighting.
    • Build‑to‑suit and divisibility options starting at 40,000 SF.

    Overview

    Mills River Logistics Center is a Class A industrial development featuring two modern distribution facilities totaling approximately 517,860 square feet on a 75-acre site. The buildings are designed to support advanced manufacturing, warehousing, and logistics operations with 36-foot clear heights, ESFR sprinklers, and LED high-bay lighting. Concrete tilt-up construction provides a durable, functional platform for daily throughput, while an ample 185-foot truck court depth and multiple loading options are intended to keep outbound and inbound processes moving efficiently.

    The project is positioned in Henderson County within the Asheville Metropolitan Statistical Area. It offers convenient access to I-26 within 2.4 miles and the Asheville Regional Airport within 2 miles, supporting a range of regional distribution and operations. The park is set in a business-friendly environment with strong workforce resources.

    With build-to-suit and divisibility options beginning at 40,000 square feet, the logistics center can accommodate both larger deployment strategies and more flexible occupancy needs. Tenants and operators focused on high-efficiency distribution, inventory storage, and light manufacturing workflows should find the configuration well-suited to modern warehousing and logistics requirements.
    Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Auto Parts Store Department Store Grocery & Convenience Store Storage Facility Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Mills River
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.5441877
    Latitude
    35.4158206

    Nearby Similar for Lease

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      121,250 SF

      Industrial Facility Near I-26

      Class-A industrial facility for lease with easy access to I-26.
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    FAQs

    What type of property is this?
    Distribution center - Modern distribution facilities with 36-foot clear heights and ESFR sprinklers, designed for efficient logistics and manufacturing operations.
    Where is this distribution center located?
    The property is located at 232 Brown Ridge Rd Mills River, NC.
    What are key features of this property?
    This property features: Two modern distribution facilities totaling approx. 517,860 SF on a 75‑acre site in Henderson County, NC (Asheville MSA).; 36‑foot clear heights with ESFR sprinkler system for high‑capacity storage and logistics operations.; Ample truck court depth of 185 feet with multiple loading options to support efficient arrivals and dispatch.
    (864) 444-2842
    We can help!
    Listing Contact
    P. Randall Bentley, SIOR, CCIM
    P. Randall Bentley, SIOR, CCIM
    Real Estate License ID: SC #2953
    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.

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