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Property profile & analytics
FOR SALE
Office buildings
24 Andrews Ave S Hot Springs, NC 28743
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-2684835
For Sale
1 / 32
$265,000
24 Andrews Ave S, Hot Springs, NC 28743
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1933
Construction
WOOD
Total area
12,800 SF
Lot
0.15 ac (6,534 SF)
Zoning code
R-A
APN
8860-61-9735
UPID
US53-2684835
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.33M
Owner & transaction history
Goss Ihs LLC · 7 yrs held
Goss Ihs LLC
since 2018
2 recorded transactions
Zoning & alternative use
R-A · Hot Springs, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hot Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hot Springs 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,805,000
Current use
RESTAURANT
$1,650,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±10%
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
$104 / 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
Property tax & assessments
Assessed value
$1,466,163
Assessed 2023
Previous assessed
$1,466,163
+0.0% YoY
Assessed land
$180,000
Assessed improvement
$1,286,163
Land market value
$180,000
Improvement market value
$1,286,163
Total market value
$1,466,163
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1933
Construction
WOOD
Heating
RADIANT
Stories
1
Bathrooms
3
Total area
12,800 SF
Lot
0.15 ac (6,534 SF)
Zoning code
R-A
APN
8860-61-9735
UPID
US53-2684835
Jurisdiction
MADISON
Zoning & alternative use
R-A · Hot Springs, NC
Zoning R-A · permitted uses
R-A · Hot Springs, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hot Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
OFFICE BUILDING Current
RESTAURANT
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
1933
Construction
WOOD
Heating
RADIANT
Stories
1
Bathrooms
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
Goss Ihs LLC
Entity
Mailing address
24 S ANDREWS AVE, HOT SPRINGS, NC 28743-9213
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2026
—
Iron Horse Inn And Tavern LLC
—
Deed
related
$200,000 · Goss Ihs LLC
Sep 7, 2018
$1,500,000
Goss Ihs LLC
Airport Warehouse At Charlotte
Grant Deed
$173,579 · Ari Strebor LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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