Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    182 Mills River Rd Mills River, NC 28759

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    182 Mills River Rd Mills River, NC 28759

    View on Map
    • Land
    • 15.29 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 182 Mills River Rd

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

    Description

    This exceptional 15.29-acre parcel presents a remarkable land development opportunity in the thriving Mills River, North Carolina market. Located at 182 N Mills River Rd, this commercially and industrially zoned (MR-MU) property boasts a gently rolling terrain ideal for various redevelopment projects. The site's strategic location places it in close proximity to established businesses, including Meade Tractor, Ingles, Bojangles, and Amazon, highlighting the area's robust economic activity and strong retail and industrial presence. While water and sewer lines are situated nearby, potential buyers are advised to independently verify utility availability, adaptability, and capacity to meet their specific project needs. It's important to note that an existing single-family dwelling on the property is considered to have no value in the overall assessment. Furthermore, prospective developers should be aware of applicable watershed restrictions. The property's APN is 9632514077. This prime location and significant acreage make this an unparalleled investment opportunity in a rapidly growing area of Henderson County, NC (zip code 28759). All showings require prior arrangement.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mills River
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.573
    Latitude
    35.4017

    Comparable in this City

    • Value Estimation by Request

      Marlowe Dr

      Farms
      0 Marlowe Dr, Mills River, NC 28759
      View Details
    • Value Estimation by Request
      10.21 Acres

      Boylston Hwy

      Land • 10.21 Acres
      0 Boylston Hwy, Mills River, NC 28759
      View Details
    • Value Estimation by Request
      7.74 Acres

      724 Broadpointe Dr

      INDUSTRIAL (GENERAL) • 7.74 Acres
      724 Broadpointe Dr, Mills River, NC 28759
      View Details
    • Value Estimation by Request
      3,000 SF

      4116 Haywood Rd

      INDUSTRIAL (GENERAL) • 3,000 SF
      4116 Haywood Rd, Mills River, NC 28759-9740
      View Details
    • Value Estimation
      $4,085,000
      47,129 SF

      1856 Jeffress Rd

      INDUSTRIAL (GENERAL) • 47,129 SF
      1856 Jeffress Rd, Mills River, NC 28759-4189
      View Details
    • Value Estimation
      $7,450,000
      142,457 SF

      25 School House Rd

      INDUSTRIAL (GENERAL) • 142,457 SF
      25 School House Rd, Mills River, NC 28759-9712
      View Details

    Similar Nearby for Sale

    • $269,900
      4.60 Acres

      Land in Mills River, NC

      Land with road frontage and views in Mills River, NC.
      999 Ray Hill Rd, Mills River, NC 28759
      View Details
    • Contact for pricing

      Mills River Acreage Opportunity

      15.5+ acre property in Mills River, North Carolina.
      10406 Boylston Hwy, Mills River, NC 28759
      View Details
    • $4,350,000

      Mills River Development Opportunity

      16.08 acres of land for development in Mills River.
      4794 Boylston Hwy, Mills River, NC 28759
      View Details
    • $2,995,000

      Mills River Development Opportunity

      Exceptional development opportunity in the heart of Mills River.
      5620 Old Haywood Rd, Mills River, NC 28759
      View Details
    • $4,350,000

      Mills River Development Opportunity

      16.08 acres of commercial land in Mills River, NC.
      4794 Boylston Hwy, Mills River, NC 28759
      View Details
    • $315,000
      0.77 Acres

      Homesite in Desirable Mills River

      0.77-acre homesite in The Farm at Mills River.
      Majestic Ridge Rd, Mills River, NC 28759
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Industrial Facility

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

      Industrial Facility Near I-26

      Class-A industrial facility for lease with easy access to I-26.
      Banner Farm Rd, Mills River, NC 28759
      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.
    182 Mills River Rd
    Mills River, NC 28759
    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

    Thank You for Inquiry

    182 Mills River Rd, Mills River, NC, 28759

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!