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Property profile & analytics
FOR SALE
Bed & breakfasts
136 N Dougherty St, Black Mountain, NC 28711
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-5637224
For Sale
1 / 30
$2,995,000
136 N Dougherty St, Black Mountain, NC 28711
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Property summary
AI-generated overview
Nestled in Black Mountain, NC, this historic 1897 inn (renovated 2023) offers 17 guest rooms across two, three-story buildings totaling 11,576 square feet on a 0.85-acre lot. The property includes a restaurant with 80 seats, a full commercial kitchen, and a liquor license. A separate carriage house apartment, currently rented for $1,000 monthly, provides additional income potential. The inn also benefits from a leasehold agreement with a bakery generating approximately $75,000 in annual income. The property is zoned TR-4 and features antique furnishings, modern amenities, and stunning mountain views. Its prime location offers easy access to Asheville and numerous outdoor recreational opportunities. The asking price is $3,250,000, and the property is offered fee simple. The APN is 0619-26-2478-00000.
Property profile
Verified
Property type
Bed & breakfasts
Use group
BED & BREAKFAST
Year built
1919
Total area
10,274 SF
Lot
0.85 ac (37,026 SF)
Zoning code
DEED DATE: 2022-08-09 DEE
APN
0619-26-2478-00000
UPID
US53-5637224
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Four Sisters Bakery Bakery Specialty Food Shop
-
Red Rocker Inn Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.56M
Blend (final)
Blend
$2.53M
Owner & transaction history
Inn Repose Enterprises Corp · 3 yrs held
Inn Repose Enterprises Corp
since 2022
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
DEED DATE: 2022-08-09 DEE · Black Mountain, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+27.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Black Mountain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Black Mountain submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,110,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,770,000
Current use
RESTAURANT
$3,545,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$2,320,000
Change: -16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,295,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10% · vs last sale $2.50M (Aug 9 2022)
Last sale anchor
$2.50M
Aug 9 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$246 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$18,477
Tax year 2024
Assessed value
$2,203,300
Assessed 2024
Previous assessed
$2,203,300
+0.0% YoY
Effective rate
0.84%
On assessed value
Land market value
$116,100
Improvement market value
$2,087,200
Total market value
$2,203,300
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bed & breakfasts
Use group
BED & BREAKFAST
Status
For Sale
Year built
1919
Heating
YES
Cooling
YES
Stories
3
Bathrooms
17
Total area
10,274 SF
Lot
0.85 ac (37,026 SF)
Zoning code
DEED DATE: 2022-08-09 DEE
APN
0619-26-2478-00000
UPID
US53-5637224
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2022-08-09 DEE · Black Mountain, NC
Zoning DEED DATE: 2022-08-09 DEE · permitted uses
DEED DATE: 2022-08-09 DEE · Black Mountain, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Black Mountain. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.8M
RESTAURANT
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.3M
HOTEL/MOTEL Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1919
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
17
Lot
0.85 ac
Current owner
From public records · entity-resolved
Inn Repose Enterprises Corp
Entity
Mailing address
136 N DOUGHERTY ST, BLACK MOUNTAIN, NC 28711-3326
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2022
$2,500,000
Inn Repose Enterprises Corp
Olive Tree Hospitality LLC
Special Warranty Deed
$1,750,000 · Chain Bridge Bank NA
Jul 10, 2018
—
Olive Tree Hospitality LLC
—
Deed
related
$250,000 · First Citizens Bank & Trust Co
Feb 21, 2018
—
Olive Tree Hospitality LLC
—
Deed
related
$1,300,000 · First Citizens Bank & Trust Co
Feb 1, 2007
$2,225,000
Olive Tree Hospitality LLC
Molly Bear Enterprises INC
Grant Deed
$1,119,000 · Zions First National Bank
—
—
Molly Bear Ents INC
—
Deed Of Trust
related
$820,000 · Carolina First Bk
—
—
Molly Bear Ents INC
—
Deed Of Trust
related
$50,000 · Carolina First Bk
—
—
Red Rocker Inn
—
Deed Of Trust
related
$50,000 · Suntrust Bk/tallahassee
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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