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    Us Hwy 276/Asheville Hwy & Us Hwy 64/Hendersonville Hwy Pisgah Forest, NC 28768
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    Us Hwy 276/Asheville Hwy & Us Hwy 64/Hendersonville Hwy Pisgah Forest, NC 28768

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    • Land
    • 530.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Us Hwy 276/Asheville Hwy & Us Hwy 64/Hendersonville Hwy

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

    Description

    This exceptional 530.75-acre development site, known as Davidson River Village, is strategically located in Pisgah Forest, North Carolina, at the intersection of US Hwy 276/Asheville Hwy and US Hwy 64/Hendersonville Hwy (zip code 28768). Situated within Brevard's Special Zoning District, this property presents a unique opportunity for large-scale development. The permitted zoning allows for up to 1,250,000 square feet of commercial development and up to 1,000 residential dwelling units. This prime location benefits from increased infrastructure, existing entitlements, and significant population growth within one of Transylvania County's fastest-growing submarkets. The property consists of multiple parcels with APNs: 8596-77-7562-000, 8596-89-6077-000, 8597-31-8577-000, 8597-32-8849-000, 8597-33-1166-000, 8597-42-2419-000, 8597-42-7854-000, 8597-51-0988-000, 8597-51-5302-000, 8597-52-6973-000, and 8597-53-8878-000. The asking price for this expansive land parcel is $15,000,000. This represents a trophy development opportunity for investors seeking to capitalize on the thriving growth in Transylvania County. The property's location and zoning provide a compelling combination for a successful mixed-use development project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pisgah Forest
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.7039
    Latitude
    35.2738

    Comparable in this City

    • Value Estimation by Request
      4,580 SF

      245 Red Barn Rd

      MINI-WAREHOUSE, STORAGE • 4,580 SF
      245 Red Barn Rd, Pisgah Forest, NC 28768
      View Details
    • Value Estimation by Request
      2,690 SF

      32 Acorn Rdg Rd

      WASTE DISPOSAL, SEWAGE • 2,690 SF
      32 Acorn Rdg Rd, Pisgah Forest, NC 28768-9868
      View Details
    • Value Estimation by Request
      160 SF

      1767 Old Hendersonville Hwy

      WASTE DISPOSAL, SEWAGE • 160 SF
      1767 Old Hendersonville Hwy, Pisgah Forest, NC 28768
      View Details
    • Value Estimation by Request
      4,000 SF

      120 Penland Dr

      WAREHOUSE, STORAGE • 4,000 SF
      120 Penland Dr, Pisgah Forest, NC 28768-8913
      View Details
    • Value Estimation
      $2,815,000
      41,600 SF

      15 Burrell Ave

      WAREHOUSE, STORAGE • 41,600 SF
      15 Burrell Ave, Pisgah Forest, NC 28768
      View Details
    • Value Estimation by Request
      1,350 SF

      Ee Frk Rd

      WAREHOUSE, STORAGE • 1,350 SF
      Ee Frk Rd, Pisgah Forest, NC 28768
      View Details

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    Pisgah Forest, NC 28768
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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.

    More about this property
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