Your AI Navigator in Commercial Real Estate
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

    00 Underwood Rd Fletcher, NC 28732

    • Commercial real estate
    • 1.73 lot acres
    For Sale
    View listing
    $999,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 00 Underwood Rd

    Year built
    1960
    Lot size
    1.73 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.73-acre parcel presents a remarkable opportunity for commercial development in the thriving Fletcher, NC market. Strategically located less than half a mile from Airport Road, this property offers unparalleled accessibility and visibility. The land is conveniently situated in a commercially zoned area (Fletcher C2), ensuring a streamlined development process. Its relatively flat and cleared terrain significantly reduces site preparation costs and accelerates project timelines. Essential public utilities are readily available, eliminating infrastructure hurdles. Adding to its appeal, this property directly adjoins a recently acquired 8+ acre parcel by a major automotive group, suggesting strong potential for synergistic development and increased property value. The C2 zoning allows for a variety of commercial uses, providing flexibility for diverse development plans. Detailed information regarding permitted uses is available in the accompanying brochure. This is a rare chance to acquire a prime commercial site in a rapidly growing area, offering significant potential for substantial return on investment. Don't miss this exceptional opportunity to secure a foothold in this dynamic market. Contact us today to learn more and schedule a site visit.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fletcher
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.5296
    Latitude
    35.4324

    Comparable in this City

    • Value Estimation
      $250,000
      1.10 Acres

      220 Rutledge Rd

      COMMERCIAL (GENERAL) • 1.10 Acres
      220 Rutledge Rd, Fletcher, NC 28732-9318
      View Details
    • Value Estimation
      $280,000
      0.74 Acres

      Fletcher, NC 28732

      COMMERCIAL (GENERAL) • 0.74 Acres
      Fletcher, NC 28732
      View Details
    • Value Estimation by Request
      0.96 Acres

      2135 Cane Crk Rd

      COMMERCIAL (GENERAL) • 0.96 Acres
      2135 Cane Crk Rd, Fletcher, NC 28732-7434
      View Details
    • Value Estimation
      $285,000
      720 SF

      81 Old Johnson Farm Rd

      COMMERCIAL (GENERAL) • 720 SF
      81 Old Johnson Farm Rd, Fletcher, NC 28732-9653
      View Details
    • Value Estimation
      $335,000
      3,000 SF

      193 Underwood Rd

      COMMERCIAL (GENERAL) • 3,000 SF
      193 Underwood Rd, Fletcher, NC 28732-8634
      View Details
    • Value Estimation
      $280,000
      1.94 Acres

      Fletcher, NC 28732

      COMMERCIAL (GENERAL) • 1.94 Acres
      Fletcher, NC 28732
      View Details

    Similar Nearby for Sale

    • $999,000
      1.73 Acres

      Fletcher Commercial Land Opportunity

      Prime 1.73-acre commercial lot near Airport Road.
      00 Underwood Rd, Fletcher, NC 28732
      View Details
    • $999,000
      1.73 Acres

      Fletcher Commercial Land - 1.73 Acres

      Prime Fletcher acreage, near Airport Rd, C2 zoning.
      125 Underwood Rd, Fletcher, NC 28732
      View Details
    • $6,500,000
      31,620 SF

      Prime Fletcher Corporate Center

      Move-in ready, 31,620 SF commercial space.
      220 Continuum Dr, Fletcher, NC 28732
      View Details
    • $105,000
      2.64 Acres

      Unrestricted Land in Hoopers Creek

      2.64 acres of unrestricted land near Hendersonville.
      Terrys Gap Rd, Fletcher, NC 28732
      View Details
    • $2,100,000
      45 SF

      45-Acre Green Paradise Opportunity

      Formerly Southern Tee Short Course & Driving Range near Fletcher Park.
      111 Howard Gap Rd, Fletcher, NC 28732
      View Details
    • $13,000,000
      13.97 Acres

      Fletcher Industrial Facility For Sale

      87,000 SF industrial facility with warehouse and office space.
      280 Cane Creek Rd, Fletcher, NC 28732
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      696,960 SF

      Fletcher Industrial Laydown Yard

      Prime NC Land: 3-16 Acres, Fully Fenced
      0 Brickton Dr, Fletcher, NC 28732
      View Details
    • Contact for pricing
      40,000 SF

      Fletcher Industrial Truck Terminal/Warehouse

      Industrial space for lease with fenced yard near I-26.
      Guaranteed Way, Fletcher, NC 28732
      View Details
    • Contact for pricing
      4,000 SF

      Fletcher Industrial Warehouse For Lease

      1-Story Warehouse, 4,000 SF, 16 Acres
      0 Guaranteed Way, Fletcher, NC 28732
      View Details
    • Contact for pricing
      10,000 SF

      Fletcher Industrial Opportunity For Lease

      10,000 SF industrial space with outside storage near I-26.
      127 Old Hendersonville Rd, Fletcher, NC 28732
      View Details
    • $41 SF/Yr
      10,000 SF

      Fletcher Industrial Flex Space

      10,000 SF Flex Space Available Now
      127 Old Hendersonville Rd, Fletcher, NC 28732
      View Details
    • Contact for pricing
      16 SF

      Fenced Yard for Lease

      16 AC fenced yard for lease in Fletcher, NC.
      Brickton Dr, Fletcher, NC 28732
      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.
    00 Underwood Rd
    Fletcher, NC 28732
    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.