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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Turn key restaurants
182 Highland Lk Dr, Flat Rock, NC 28731
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1781897
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1960
Total area
11,398 SF
Lot
23.75 ac (1,034,550 SF)
Zoning code
10010923~R-C
APN
9577455986
UPID
US53-1781897
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
$910k
Owner & transaction history
Highland Lake Property Management L · 3 yrs held
Highland Lake Property Management L
since 2023
2 recorded transactions
Zoning & alternative use
10010923~R-C · Flat Rock, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+4.7%
Retail stores
$1.1M
+1.5%
Office building
$1.1M
+0.9%
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 Flat Rock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flat Rock 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
RESTAURANT
$1,060,000
Current use
AUTO REPAIR, GARAGE
$1,110,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$1,075,000
Change: +1% · Conversion: Easy
OFFICE BUILDING
$1,070,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±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
$80 / 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
$5,128,600
Assessed 2024
Previous assessed
$1,085,200
+372.6% YoY
Assessed land
$1,781,300
Assessed improvement
$3,347,300
Land market value
$1,781,300
Improvement market value
$3,347,300
Total market value
$5,128,600
Applied tax rate
50.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
19
Stories
1
Total area
11,398 SF
Lot
23.75 ac (1,034,550 SF)
Zoning code
10010923~R-C
APN
9577455986
UPID
US53-1781897
Jurisdiction
HENDERSON
Zoning & alternative use
10010923~R-C · Flat Rock, NC
Zoning 10010923~R-C · permitted uses
10010923~R-C · Flat Rock, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Flat Rock. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
RESTAURANT Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
19
Lot
23.75 ac
Current owner
From public records · entity-resolved
Highland Lake Property Management L
Entity
Free & Clear · 3 yrs held
Mailing address
86 LILY PAD LN, FLAT ROCK, NC 28731-9507
Ownership since
2023
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
Jan 29, 2025
—
Highland Lake Property Management L
—
Deed
related
$150,000 · Us Small Business Administration, A Gove
Jun 30, 2023
—
Highland Lake Property Management L
John E Grup III
Intrafamily Transfer
related
—
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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