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
    Property profile & analytics

    2015 Tynecastle Hwy Banner Elk, NC 28604-9710

    • Grocery and convenience stores
    • 4,720 SF
    • 0.95 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2566324
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • ATM (Scotchman Store) / Atm
    • Western Union / Money Transfer Service
    • Scotchman Store / Convenience Store
    • Carolina Petro / Gas Station
    • Nguyens Asian Grill / Asian Fusion Restaurant / Japanese Restaurant

    Property Details for 2015 Tynecastle Hwy

    Year built
    1980
    Construction
    CONCRETE
    Lot size
    0.95 lot acres
    Property size
    4,720 SF
    Zone code
    C2
    Property type
    Grocery and convenience stores
    APN
    18580053855700000
    APU
    18580053855700000

    Description

    This exceptional offering presents two prime retail outparcels in Banner Elk, North Carolina, ideally situated at 2015 Tynecastle Hwy, zip code 28604. The property boasts a highly desirable location adjacent to a Lowe's Home Improvement Center, ensuring excellent visibility and convenient access for potential businesses. Two lots are available, providing flexibility for various development plans. Lot 1 encompasses approximately 4.8 buildable acres, including an additional 6.1 acres featuring a pond and sloped areas. This lot offers significant potential for larger-scale retail development. Lot 2 comprises approximately 1.1 acres, providing a more compact option for smaller retail ventures. Both lots benefit from existing infrastructure, including readily available utilities, a completed stormwater management system, rough grading, and established driveways and roads. This turnkey opportunity minimizes development hurdles and allows for a swift commencement of construction. The property's location in Avery County, North Carolina, offers a thriving market and strong potential for return on investment. The combined acreage provides a unique opportunity for either individual development or a cohesive retail center. This is an exceptional chance to acquire prime retail land in a high-traffic area with significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Banner Elk
    County
    Avery
    State
    North Carolina
    Longitude
    -81.8591
    Latitude
    36.1445

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,971
    $372,400
    $120,400
    $492,800
    -
    $372,400
    $120,400
    $492,800

    Comparable in this City

    • Value Estimation
      $255,000
      2,880 SF

      379 Shawneehaw Ave

      CONVENIENCE STORE • 2,880 SF
      379 Shawneehaw Ave, Banner Elk, NC 28604
      View Details
    • Value Estimation
      $265,000
      3,196 SF

      4530 Tynecastle Hwy

      CONVENIENCE STORE • 3,196 SF
      4530 Tynecastle Hwy, Banner Elk, NC 28604-7466
      View Details
    • Value Estimation
      $250,000
      4,803 SF

      3980 Nc Hwy 105th S

      CONVENIENCE STORE • 4,803 SF
      3980 Nc Hwy 105th S, Sugar Mountain, NC 28604-8628
      View Details
    • Value Estimation by Request
      2,530 SF

      10656 Nc Hwy 105th S

      CONVENIENCE STORE • 2,530 SF
      10656 Nc Hwy 105th S, Banner Elk, NC 28604-8656
      View Details
    • Value Estimation
      $6,380,000
      47,274 SF

      4000 Nc Hwy 105th S

      GROCERY, SUPERMARKET • 47,274 SF
      4000 Nc Hwy 105th S, Sugar Mountain, NC 28604-8629
      View Details
    • Value Estimation
      $685,000
      35,484 SF

      3555 Tynecastle Hwy

      GROCERY, SUPERMARKET • 35,484 SF
      3555 Tynecastle Hwy, Banner Elk, NC 28604
      View Details

    Similar Nearby for Sale

    • $499,000

      Prime Commercial Space, Beech Mountain

      Versatile commercial property at Beech Mountain Resort entrance.
      1005 Beech Mountain Pkwy, Beech Mountain, NC 28604
      View Details
    • $229,000

      Mountain Homesite with Trout Fishing

      Homesite with access to trout fishing and community amenities.
      1 Stonefly Trl, Banner Elk, NC 28604
      View Details
    • $45,000

      Beech Mountain Lot with Membership

      0.36-acre lot with club membership and seasonal views.
      327 Locust Ridge Rd, Beech Mountain, NC 28604
      View Details
    • $38,000

      Partially Wooded Lot on Beech

      Partially wooded lot in a convenient Beech Mountain location.
      110 Pond Creek Ln, Beech Mountain, NC 28604
      View Details
    • $317,000
      2.11 Acres

      Scenic Land in Eagles Nest

      Gently sloping 2.11-acre lot with long-range views and stream.
      77 N Eagles Nest Trl, Banner Elk, NC 28604
      View Details
    • $30,000
      0.35 Acres

      Land Near Beech Mountain Club

      Residential land near golf course with driveway cut in.
      106 Woodridge Rd, Beech Mountain, NC 28604
      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.
    2015 Tynecastle Hwy
    Banner Elk, NC 28604-9710
    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.