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    10543 Nc-105 Banner Elk, NC 28604

    • Retail properties
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 10543 Nc-105

    Year built
    1982
    Lot size
    0.64 lot acres
    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    This renovated, single-story commercial building at 10543 NC-105, Unit B, Banner Elk, NC 28604, offers 1,035 square feet of versatile space ideal for retail or office use. Located on a 0.64-acre lot, this property boasts 17 non-exclusive parking spaces, ensuring ample parking for employees and customers. The building, constructed in 1982 and extensively renovated in 2024, features new flooring, paint, restrooms, and mini-split HVAC units. The space is part of a multi-tenant building with a total of two suites. The property is zoned FGC Highway and serviced by BREMCO power. Its prime location along NC Highway 105 provides excellent visibility and accessibility, connecting Boone and Banner Elk, and serving the nearby Foscoe and Seven Devils communities. The minimum divisible space is 1,035 square feet, with a maximum contiguous space of 2,413 square feet. The property's parcel numbers are 1878-53-2931-001 and 1878-53-2931-002. The monthly rent is $1,500.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Banner Elk
    County
    Avery
    State
    North Carolina
    Longitude
    -81.7936
    Latitude
    36.1472

    Comparable in this City

    • Value Estimation
      $335,000
      8,778 SF

      Balm Hwy

      DEPARTMENT STORE • 8,778 SF
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    • Value Estimation
      $425,000
      213 SF

      200 Punkin Ctr

      OFFICE (GENERAL) • 213 SF
      200 Punkin Ctr, Banner Elk, NC 28604-7821
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    • Value Estimation
      $430,000
      400 SF

      10595 Nc Hwy 105th S

      OFFICE (GENERAL) • 400 SF
      10595 Nc Hwy 105th S, Banner Elk, NC 28604-8655
      View Details
    • Value Estimation
      $335,000
      1,086 SF

      1214 Banner Elk Hwy

      OFFICE BUILDING • 1,086 SF
      1214 Banner Elk Hwy, Banner Elk, NC 28604
      View Details
    • Value Estimation
      $360,000
      1,200 SF

      Beech Mtn Pkwy

      OFFICE BUILDING • 1,200 SF
      Beech Mtn Pkwy, Banner Elk, NC 28604
      View Details
    • Value Estimation
      $290,000
      4,800 SF

      4820 Nc Hwy 105th S

      OFFICE BUILDING • 4,800 SF
      4820 Nc Hwy 105th S, Banner Elk, NC 28604-8721
      View Details

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    Banner Elk, NC 28604
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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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