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    5373 Green River Cove Rd Saluda, NC 28773
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    5373 Green River Cove Rd Saluda, NC 28773

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    • Retail properties & Spaces
    • 6.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mountain Valley Express / Restaurant

    Property Details for 5373 Green River Cove Rd

    Year built
    2017
    Lot size
    6.53 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional turnkey business opportunity encompasses the highly successful Silver Creek Tubing Center, situated on a 6.53-acre lot in Saluda, North Carolina. Built in 2017, the property includes three buildings and boasts a prime location at 5373 Green River Cove Rd, 28773, with permitted CR zoning. The center enjoys a coveted position, owning both sides of the river and the main road, providing significant expansion potential. Currently operating as a popular river tubing destination, consistently ranked among the top 10 in the North Carolina mountains, the business attracts thousands of visitors annually during spring, summer, and fall. The property's versatility extends beyond tubing, with opportunities to host special events, concerts, and festivals, capitalizing on the existing infrastructure and high visitor traffic. The asking price is $1,000,000, with owner financing a possibility. This presents a unique chance to acquire a profitable, established business with substantial room for growth and diversification in a picturesque mountain setting. The property's location offers easy access to nearby attractions such as Lake Lure, Tryon International Equestrian Center, and other regional destinations, further enhancing its appeal and potential for increased revenue streams. The existing infrastructure, including three buildings, provides ample space for operations, storage, and potential future expansion projects. This is a rare opportunity to own a thriving business with significant upside potential in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Saluda
    County
    Polk
    State
    North Carolina
    Longitude
    -82.289
    Latitude
    35.2896

    Comparable in this City

    • Value Estimation by Request
      6,760 SF

      1142 Sr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,760 SF
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    • Value Estimation by Request
      4,408 SF

      Ml St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,408 SF
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    • Value Estimation by Request
      1,830 SF

      40 Legacy Ln

      STORE/OFFICE (MIXED USE) • 1,830 SF
      40 Legacy Ln, Saluda, NC 28773
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    • Value Estimation by Request
      2,400 SF

      1142 1122

      AUTO REPAIR, GARAGE • 2,400 SF
      1142 1122, Saluda, NC 28773
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    • Value Estimation by Request
      2,244 SF

      48 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,244 SF
      48 Main St, Saluda, NC 28773-7817
      View Details
    • Value Estimation
      $685,000
      1,400 SF

      108 Main St

      FINANCIAL BUILDING • 1,400 SF
      108 Main St, Saluda, NC 28773-7812
      View Details

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    Saluda, NC 28773
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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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