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    350 Henredon Rd Spruce Pine, NC 28777
    Property profile & analytics

    350 Henredon Rd, Spruce Pine, NC 28777

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    • Warehouses
    • 6.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 350 Henredon Rd

    Year built
    1980
    Lot size
    6.03 lot acres
    Property type
    Warehouses
    Property subtype
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spruce Pine
    County
    Mitchell
    State
    North Carolina
    Longitude
    -82.0057
    Latitude
    35.902

    Comparable in this City

    • Value Estimation by Request
      2,500 SF

      Spruce Pine, NC 28777

      WAREHOUSE, STORAGE
      Spruce Pine, NC 28777
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    • Value Estimation by Request
      1,200 SF

      400 Brushy Crk Rd

      WAREHOUSE, STORAGE
      400 Brushy Crk Rd, Spruce Pine, NC 28777-8236
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    • Value Estimation by Request
      2,500 SF

      Brushy Crk Rd

      WAREHOUSE, STORAGE
      Brushy Crk Rd, Spruce Pine, NC 28777
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    • Value Estimation by Request
      1,600 SF

      135 Mcclellan Ln

      WAREHOUSE, STORAGE
      135 Mcclellan Ln, Spruce Pine, NC 28777-8212
      View Details
    • Value Estimation by Request
      0.75 Acres

      19 Bailey St

      MINI-WAREHOUSE, STORAGE
      19 Bailey St, Spruce Pine, NC 28777-8800
      View Details
    • Value Estimation
      $1,560,000
      0.10 Acres

      282 Oak Ave

      WAREHOUSE, STORAGE
      282 Oak Ave, Spruce Pine, NC 28777
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,388 SF

      Versatile Industrial/Warehouse Opportunity

      Multi-purpose industrial space with high functionality and development potential.
      350 Henredon Rd, Spruce Pine, NC 28777
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    • $225,000
      4,300 SF

      Spruce Pine Flex Space

      Climate-controlled flex space with loading dock and bay doors.
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    • $652,000
      12,388 SF

      Spruce Pine Warehouse Opportunity

      Warehouse/industrial space with climate control potential, no zoning restrictions.
      350 Henredon Rd, Spruce Pine, NC 28777
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    • $776,160
      27.72 Acres

      PRIME Appalachian Land with Views

      Estate-ready land with vast 360-degree mountain views.
      Arrowhead Ridge Rd, Spruce Pine, NC 28777
      View Details
    • $37,000
      1.18 Acres

      Unrestricted Wooded Mountain Parcel

      1.17+/- acre unrestricted lot near Blue Ridge Parkway.
      George Mckinney Cir, Spruce Pine, NC 28777
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    • New
      $895,000
      20.48 Acres

      Unrestricted Land Near Blue Ridge Parkway

      20.47 acres near Blue Ridge Parkway with development potential.
      65 Blue Ridge Gem Mine Rd, Little Switzerland, NC 28777
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    Similar Nearby for Lease

    • $15 SF/Yr

      Medical Office Building For Lease

      Medical office building for lease near Blue Ridge Medical Center.
      496 Altapass Hwy, Spruce Pine, NC 28777
      View Details
    • Contact for pricing

      Medical Office Building For Lease

      Freestanding medical office building on hospital campus in Spruce Pine.
      496 Altapass Hwy, Spruce Pine, NC 28777
      View Details
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    Spruce Pine, NC 28777
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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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    350 Henredon Rd, Spruce Pine, NC, 28777
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