Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1833 Millers Gap Hwy Newland, NC 28657-7955
    Back to Search
    Property profile & analytics

    1833 Millers Gap Hwy Newland, NC 28657-7955

    View on Map
    • Office buildings
    • 605 SF
    Off-Market
    Last Sale Jun 29, 2025
    $50,000
    Property ID
    US53-2581349
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1833 Millers Gap Hwy

    Year built
    1962
    Construction
    CONCRETE BLOCKS
    Property size
    605 SF
    Property type
    Office buildings
    APN
    18350265614600003
    APU
    18350265614600003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newland
    County
    Avery
    State
    North Carolina
    Longitude
    -81.9213
    Latitude
    36.0649

    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
    2023
    $172
    $15,100
    $28,000
    $43,100
    -
    $15,100
    $28,000
    $43,100

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      148 Bowman Rd

      OFFICE BUILDING • 1,600 SF
      148 Bowman Rd, Newland, NC 28657
      View Details
    • Value Estimation by Request
      600 SF

      127 Pineola St

      OFFICE BUILDING • 600 SF
      127 Pineola St, Newland, NC 28657
      View Details
    • Value Estimation by Request
      3,582 SF

      4236 Linville Fls Hwy

      OFFICE BUILDING • 3,582 SF
      4236 Linville Fls Hwy, Newland, NC 28657-8007
      View Details
    • Value Estimation by Request
      1,160 SF

      Hwy Hwy

      OFFICE BUILDING • 1,160 SF
      Hwy Hwy, Newland, NC 28657
      View Details
    • Value Estimation by Request
      1,156 SF

      1243 Elk Park Hwy

      OFFICE BUILDING • 1,156 SF
      1243 Elk Park Hwy, Newland, NC 28657-7846
      View Details
    • Value Estimation by Request
      3,360 SF

      61 Jonas Rdg Hwy

      OFFICE BUILDING • 3,360 SF
      61 Jonas Rdg Hwy, Newland, NC 28657
      View Details

    Similar Nearby for Sale

    • $99,000
      5.18 Acres

      Jonas Ridge Vacant Land For Sale

      5+ acres of vacant land with stream frontage.
      7901 Joe Poore Rd, Jonas Ridge, NC 28657
      View Details
    • Contact for pricing

      Established Arts, Crafts Business Opportunity

      Thriving business with loyal customers and expansion potential on 2.99 acres.
      4294 Linville Falls Hwy, Newland, NC 28657
      View Details
    • $700,000

      Established Arts, Crafts, Landscape Business

      Thriving business with loyal customers and expansion potential on 2.99 acres.
      4294 Linville Falls Hwy, Newland, NC 28657
      View Details
    • $134,900
      1.23 Acres

      Linville Homesite with Mountain Views

      Homesite in gated community with Grandfather Mountain views.
      153 Linville Oaks Dr, Linville, NC 28657
      View Details
    • $120,000
      0.09 Acres

      Cleared Lot in Linville Land

      Cleared lot ready for building or RV setup.
      35 Pine Loop, Newland, NC 28657
      View Details
    • $64,900
      0.61 Acres

      Land Near Blue Ridge Parkway

      Two lots near Blue Ridge Parkway and Linville Falls.
      Midway Rd, Newland, NC 28657
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1833 Millers Gap Hwy
    Newland, NC 28657-7955
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1833 Millers Gap Hwy, Newland, NC, 28657
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!