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    581 Nc-9 Black Mountain, NC 28711
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    581 Nc-9 Black Mountain, NC 28711

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    • Retail properties & Spaces
    • 4,453 SF
    • 1.10 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 581 Nc-9

    Year built
    1992
    Lot size
    1.10 lot acres
    Property size
    4,453 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 4,453-square-foot former chain restaurant presents a prime redevelopment opportunity in Black Mountain, NC. Situated on a 1.1-acre lot with approximately 250 feet of highway frontage on NC Highway 9, this property boasts high visibility due to its location directly off I-40 exit 64. The well-built, single-story building, constructed in 1992, offers flexible zoning (HB) allowing for diverse uses including restaurants, banks, breweries, convenience stores, hotels, medical facilities, and retail establishments. The rectangular site is easily redeveloped, and an existing retaining wall reduces site development costs. The property includes 48 parking spaces. The site benefits from a strong trade area anchored by Ingles Markets and experiences high daily traffic volume (14,500 cars per day). Black Mountain offers a blend of small-town charm and natural beauty, with nearby attractions like Lake Tomahawk Park and the Swannanoa Valley Museum. Currently vacant, this property is offered with an Absolute NNN lease structure (no landlord maintenance). Note that building access is currently unavailable. This location provides easy access to Asheville, a significant regional market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Black Mountain
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.3184
    Latitude
    35.6094

    Comparable in this City

    • Value Estimation by Request
      4,453 SF

      581 Nc-9

      Restaurants • 4,453 SF
      581 Nc-9, Black Mountain, NC 28711
      View Details
    • Value Estimation
      $1,530,000
      2,764 SF

      591 Nc Hwy 9th 9

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,764 SF
      591 Nc Hwy 9th 9, Black Mountain, NC 28711-3828
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    • Value Estimation by Request
      3,149 SF

      203 State St

      RESTAURANT • 3,149 SF
      203 State St, Black Mountain, NC 28711-3524
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    • Value Estimation
      $800,000
      4,200 SF

      400 State St

      RESTAURANT • 4,200 SF
      400 State St, Black Mountain, NC 28711-3520
      View Details
    • Value Estimation
      $735,000
      4,868 SF

      560 Nc Hwy 9th 9

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,868 SF
      560 Nc Hwy 9th 9, Black Mountain, NC 28711-3829
      View Details
    • Value Estimation
      $585,000
      4,256 SF

      2898 Us 70th Hwy

      BAR, TAVERN • 4,256 SF
      2898 Us 70th Hwy, Black Mountain, NC 28711-9111
      View Details

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    • Contact for pricing

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    Black Mountain, NC 28711
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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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