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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Office buildings
1873 Tynecastle Hwy, Banner Elk, NC 28604-7086
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-2790241
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE BLOCKS
Total area
8,464 SF
Lot
0.62 ac (27,007 SF)
Zoning code
C2
APN
18580054307600000
UPID
US53-2790241
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
-
Michael Tesh Tile & Marble General Contractor Renovation Specialist
-
Noble pursuit massage Alternative Medicine Practice Spa & Massage Center
-
Massage Alliance Alternative Medicine Practice Spa & Massage Center
-
APX Realty - Area Property Experts Real Estate Agency
-
OMazing Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$655k
Blend (final)
Blend
$650k
Owner & transaction history
Tynecastle Plaza LLC · 5 yrs held
Tynecastle Plaza LLC
since 2021
Last sale
$615,000
4 recorded transactions
Zoning & alternative use
C2 · Banner Elk, 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 Banner Elk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Banner Elk 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
$705,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$900,000
Current use
WAREHOUSE, STORAGE
$745,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $615k (Feb 1 2021)
Last sale anchor
$615k
Feb 1 2021
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
$77 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$2,414
Tax year 2023
Assessed value
$603,500
Assessed 2023
Previous assessed
$603,500
+0.0% YoY
Effective rate
0.40%
On assessed value
Assessed land
$243,100
Assessed improvement
$360,400
Land market value
$243,100
Improvement market value
$360,400
Total market value
$603,500
Applied tax rate
2.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
CONCRETE BLOCKS
Heating
BASEBOARD
Cooling
NONE
Stories
2
Total area
8,464 SF
Lot
0.62 ac (27,007 SF)
Zoning code
C2
APN
18580054307600000
UPID
US53-2790241
Jurisdiction
AVERY
Zoning & alternative use
C2 · Banner Elk, NC
Zoning C2 · permitted uses
C2 · Banner Elk, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Banner Elk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$900,000
WAREHOUSE, STORAGE
Est. value
$745,000
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1985
Construction
CONCRETE BLOCKS
Heating
BASEBOARD
Cooling
Yes
Stories
2
Lot
0.62 ac
Current owner
From public records · entity-resolved
Tynecastle Plaza LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 2501, BANNER ELK, NC 28604-2501
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2021
$615,000
Tynecastle Plaza LLC
Flnc Properties LLC
Warranty Deed
—
Jun 18, 2014
—
Flnc Properties LLC
Badger,christine J
Warranty Deed
related
—
Apr 14, 2014
$200,000
Christine J Badger
Johnson,michael G & Jill H
Warranty Deed
related
—
Jan 27, 2005
—
Michael Johnson
Owner Name Unavailable
Grant Deed
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.
Try Rey
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