Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    99999 Upward Rd Flat Rock, NC 28731

    • Land
    • 2.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 99999 Upward Rd

    Lot size
    2.48 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 2.48-acre commercial/industrial land parcel in Flat Rock, North Carolina, presents a compelling investment opportunity. Zoned Regional Commercial (RC), this flat, buildable lot boasts 320 feet of frontage on Upward Road, offering excellent visibility and accessibility. Its strategic location at a signalized intersection provides multiple potential ingress/egress points. Utilities are readily available. The property's proximity to the Upward Road exit of I-26 ensures convenient access to major transportation routes. Considerable development potential exists for various uses, including hospitality, retail, self-storage, industrial facilities, and convenience stores. The site is only 4.5 miles from downtown Hendersonville, a 15-minute drive to Asheville Regional Airport, and a 45-minute drive to Greenville, South Carolina. The property's APN is 7686-18-1655. A survey is available. Asking price is $1,240,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.3984
    Latitude
    35.2952

    Comparable in this City

    • Value Estimation by Request
      0.86 Acres

      Lakemont Dr

      Land • 0.86 Acres
      0 Lakemont Dr, Flat Rock, NC 28731
      View Details
    • Value Estimation by Request
      15.93 Acres

      641 Crest Rd

      Land • 15.93 Acres
      641 Crest Rd, Flat Rock, NC 28731
      View Details
    • Value Estimation
      $55,000
      11.77 Acres

      117 Mcabee Ct

      INDUSTRIAL (GENERAL) • 11.77 Acres
      117 Mcabee Ct, Flat Rock, NC 28731
      View Details
    • Value Estimation
      $245,000
      0.37 Acres

      Flat

      INDUSTRIAL (GENERAL) • 0.37 Acres
      Flat, Rock, NC 28731
      View Details
    • Value Estimation
      $170,000
      13.43 Acres

      1 Garrison Ln

      INDUSTRIAL (GENERAL) • 13.43 Acres
      1 Garrison Ln, Flat Rock, NC 28731-7760
      View Details
    • Value Estimation
      $410,000
      11,500 SF

      90 Reeds Way

      INDUSTRIAL (GENERAL) • 11,500 SF
      90 Reeds Way, Flat Rock, NC 28731-0770
      View Details

    Similar Nearby for Sale

    • New
      $220,000
      12.60 Acres

      Flat Rock Land Opportunity

      12+ acres near Big Hungry Trails and Green River Narrows.
      Big Hungry Rd, Flat Rock, NC 28731
      View Details
    • $168,000
      1.55 Acres

      Hendersonville Commercial Land Opportunity

      1.55 Acres, Upset Bid Auction
      000 Upward Rd, Hendersonville, NC 28731
      View Details
    • $84,900

      Homesite in Kenmure, Flat Rock

      Homesite near amenities with potential club membership discount.
      000 Greenleaf Dr, Flat Rock, NC 28731
      View Details
    • $165,000

      Flat Wooded Lot in Flat Rock

      Flat, wooded lot with utilities in desirable Flat Rock.
      000 Red Fox Ln, Flat Rock, NC 28731
      View Details
    • $165,000

      Flat Rock Wooded Homesite Opportunity

      Flat, wooded lot in Flat Rock with utilities available.
      000 Red Fox Ln, Flat Rock, NC 28731
      View Details
    • $185,000

      Flat Wooded Lot in Flat Rock

      Flat, wooded lot with utilities in desirable Flat Rock.
      000 Red Fox Ln, Flat Rock, NC 28731
      View Details
    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.
    99999 Upward Rd
    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
    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.
    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.