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    Property profile & analytics

    362 Duke St Forest City, NC 28043

    • Turn key restaurants
    • 1,840 SF
    • 32.36 lot acres
    For Lease
    View listing
    Value Estimation
    $740,000
    Last Sale
    Feb 29, 2024
    $730,000
    Location Intelligence
    Property ID
    US53-2729407
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 362 Duke St

    Year built
    1959
    Lot size
    32.36 lot acres
    Property size
    1,840 SF
    Zone code
    C3
    Property type
    Turn key restaurants
    APN
    1603630
    APU
    1603630

    Description

    This exceptional 32+ acre property in Forest City, NC, presents a rare investment opportunity. The main attraction is the 2,631 square foot Eagle Lake Restaurant, featuring a fully equipped commercial kitchen with walk-in refrigerators and freezers. The restaurant boasts seating for 14 inside and 7 (expandable to 12) on a covered lakeside deck, all offering stunning lake views. A basement bar and two storage rooms provide additional space. The property also includes a 10-acre stocked lake, perfect for fishing, kayaking, and canoeing. Amenities extend to a mowed picnic and camping area with ample shade, three RV sites with full hookups on concrete pads, and a separate tackle and bait shop. Abundant parking is available with two asphalt lots providing 40 spaces. The property is zoned C-3 and features a paved, tree-lined drive. This versatile property is ideal for a variety of uses, including event hosting, and is conveniently located near historic downtown Forest City. The three-phase power supply ensures operational efficiency.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $730,000

    • CAP approach

      CAP return
      Estimation
      6%
      $825,000
      6.5%
      $705,000
      7%
      $825,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $685,000
      Geo Method
      $835,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $680,000
      Retail
      $800,000
      Mixed-Use
      $880,000
      Hospitality
      $830,000
      Educational
      $760,000
      Residential Income
      $735,000
      Energy
      $835,000
      Income-Based Land
      $685,000
      Food Service
      $815,000

    Location Insight

    • Map
    • Local Demand
    City
    Forest City
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.9005
    Latitude
    35.3466
    CBSA code
    22580
    CBSA name
    FOREST CITY, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $6,055
    $590,300
    $112,500
    $702,800
    -
    $590,300
    $112,500
    $702,800

    Comparable in this City

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      1288 Main St

      RESTAURANT • 3,734 SF
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      RESTAURANT • 4,195 SF
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      657 Oak St

      RESTAURANT • 5,444 SF
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      102 Main St

      RESTAURANT • 11,520 SF
      102 Main St, Forest City, NC 28043-3052
      View Details
    • Value Estimation
      $385,000
      3,844 SF

      220 Oak St

      RESTAURANT • 3,844 SF
      220 Oak St, Forest City, NC 28043
      View Details

    Similar Nearby for Sale

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      Forest City Commercial Land Opportunity

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    • $32,500

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    Similar Nearby for Lease

    • Contact for pricing
      2,631 SF

      Eagle Lake Restaurant & Grounds

      Unique NC Restaurant w/Lake & Camping
      362 Duke St, Forest City, NC 28043
      View Details
    • Contact for pricing
      6,008 SF

      Forest City Retail Space Available

      High-visibility storefront, 3,008 sq ft.
      181 Main St, Forest City, NC 28043
      View Details
    • $6,000 /Mo
      20,473 SF

      New Office Construction For Lease

      New construction office space with customizable design and excellent exposure.
      633 S Broadway St, Forest City, NC 28043
      View Details
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    362 Duke St
    Forest City, NC 28043
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    Realmo Value Estimation

    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.

    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.

    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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