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    Banner Farm Rd Mills River, NC 28759

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    For Lease
    Contact for pricing

    Class A Industrial Space Available

    Lot size:
    171,155 SF

    Property Features for 0 Banner Farm Rd

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    171,155 SF
    Class
    A

    Building Details

    Year Built
    2024
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 0 Banner Farm Rd, Mills River, NC 28759 Contact us

    We can help!

    Listing Contact
    Jordan Skellie, Sior
    Jordan Skellie, Sior

    Listing Agency: Lee & Associates Spartanburg Listing Agent: Jordan Skellie, Sior

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

    Learn more

    Overview

    This exceptional 171,155-square-foot Class A industrial facility, situated at Banner Farm Rd in Mills River, NC (zip code 28759), presents a unique opportunity for businesses seeking expansive warehouse, manufacturing, or distribution space. Built in 2024, this single-story building boasts a 32-foot ceiling height, providing ample vertical storage capacity. The property features 24 dock-high doors for efficient loading and unloading, complemented by two drive-in doors for added flexibility. With a total of 129 parking spaces, ample room is available for employees and visitors. The property is classified as multi-tenant, offering significant space for lease. The entire 171,155 square feet is currently vacant, making it ideal for a single large tenant or multiple smaller occupants. Located in Henderson County, this property's APN is 9631813644. Its strategic location offers easy access to major transportation routes, making it an ideal distribution hub. The property's modern design and functionality cater to a wide range of industrial needs, ensuring a productive and efficient work environment. This is a rare opportunity to secure a premier industrial space in a thriving location. The property's single-story design and expansive layout offer unparalleled flexibility for various industrial operations. The high number of dock-high doors and drive-in doors ensures efficient and seamless logistics operations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Mills River
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.5596931
    Latitude
    35.3644235

    Nearby Similar for Lease

    • Contact for pricing
      101,850 SF

      Class A Industrial Facility

      101,850 SF class-A industrial facility for lease.
      Banner Farm Rd, Mills River, NC 28759
      View Details

    FAQs

    What type of property is this?
    Distribution property - Class A Industrial Space Available
    Where is this distribution property located?
    The property is located at Banner Farm Rd Mills River, NC.
    What are key features of this property?
    This property features: Excellent infill location with strong last-mile access.; Prestigious corporate neighbors.; Multiple access points for convenient ingress and egress.
    (864) 238-2188 Call to check price and availability
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    Banner Farm Rd Mills River, NC 28759
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    Mills River, NC 28759
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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
    Banner Farm Rd Mills River, NC 28759
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jordan Skellie, Sior
    Jordan Skellie, Sior
    Real Estate License ID: 293860
    (864) 238-2188 (864) 704-1040
    Learn more
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