Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Alpen Rose Way Mills River, NC 28759

    Property Lookup

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

    Alpen Rose Way Mills River, NC 28759

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

    Current Use by Public Records

    • Land

    Property Details for 0 Alpen Rose Way

    Lot size
    124.33 lot acres
    Property type
    Land

    Description

    This exceptional 124.33-acre property in Mills River, North Carolina, presents a unique opportunity for discerning buyers. Located in Henderson County, near the town of Mills River (zip code 28759), this land boasts a desirable MR-MU zoning designation. Bordering Pisgah National Forest at its ridgeline, the property offers unparalleled access to outdoor recreation. Direct trail access to the South Mills River and the Turkeypen trail system provides endless opportunities for hiking, biking, and fly fishing. The mature forest, situated on a south-facing slope, provides breathtaking views of the valley and surrounding mountains. An existing network of forest roads ensures convenient access throughout the property, including the ridge. The versatility of this land allows for various development possibilities, including a private estate, a family compound, or a unique community that harmoniously integrates with the natural environment. Its convenient location offers proximity to the amenities of Mills River, including shopping, dining, and breweries. Furthermore, its close proximity to Asheville Airport and Brevard provides easy access to a wider range of cultural and recreational activities. The asking price for this remarkable property is $1,865,000.

    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
    -82.623
    Latitude
    35.3544

    Comparable in this City

    • Value Estimation by Request
      120.15 Acres

      4028 Haywood Rd

      Farms • 120.15 Acres
      4028 Haywood Rd, 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
      15.29 Acres

      182 Mills River Rd

      Land • 15.29 Acres
      182 Mills River Rd, Mills River, NC 28759
      View Details
    • Value Estimation by Request

      Marlowe Dr

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

      Mills

      MOBILE HOME PARK, TRAILER PARK • 4 SF
      Mills, River, NC 28759
      View Details
    • Value Estimation by Request
      4 SF

      37 Pleasant Pl Dr

      MOBILE HOME PARK, TRAILER PARK • 4 SF
      37 Pleasant Pl Dr, Mills River, NC 28759
      View Details

    Similar Nearby for Sale

    • 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
    • $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
    • $2,400,000
      12.00 Acres

      Mills River Land with Development Potential

      12 acres near Asheville Airport with multiple development opportunities.
      467 Butler Farm Rd, Mills River, NC 28759
      View Details
    • $2,400,000
      Pending

      Mills River Land with Development Potential

      12 acres near Asheville Airport with industrial and multifamily potential.
      467 Butler Farm Rd, Mills River, NC 28759
      View Details
    • $1,750,000
      11,720 SF

      Unique Event Center with Pond

      Mixed-use property featuring an event center, house, and 5+ acre pond.
      8826 Boylston Hwy, Mills River, NC 28759
      View Details

    Similar Nearby for Lease

    • 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
    • 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
    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.
    Alpen Rose Way
    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

    Alpen Rose Way, 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!