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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2036 Blowing Rock Rd Boone, NC 28607-6152

    • Drive through restaurants
    • 5,670 SF
    • 1.63 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2020
    $1,960,000
    Value Estimations
    $1,965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2481533
    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.

    Current Use by Public Records

    • Applebee's Grill + Bar / Restaurant

    Property Details for 2036 Blowing Rock Rd

    Year built
    2004
    Lot size
    1.63 lot acres
    Property size
    5,670 SF
    Zone code
    BOB3
    Property type
    Drive through restaurants
    APN
    2910-60-5971-000
    APU
    2910605971000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,975,000
      ML approach
      $2,240,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,245,000
      Current use
      AUTO REPAIR, GARAGE
      $2,860,000
      Change: +130% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,490,000
      Change: +100% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,410,000
      Change: +94% Conversion: Difficult
      OFFICE BUILDING
      $1,635,000
      Change: +31% Conversion: Moderate
      MEDICAL BUILDING
      $1,450,000
      Change: +17% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,400,000
      Change: +13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,345,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Boone
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.6553
    Latitude
    36.1965
    CBSA code
    14380
    CBSA name
    BOONE, NC MICROPOLITAN STATISTICAL AREA

    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
    0
    $0.00
    $1,370,700
    $682,170
    $2,052,870
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      595 SF

      1521 Blowing Rock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 595 SF
      1521 Blowing Rock Rd, Boone, NC 28607-6143
      View Details
    • Value Estimation
      $735,000
      3,156 SF

      1064 Blowing Rock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,156 SF
      1064 Blowing Rock Rd, Boone, NC 28607-6133
      View Details
    • Value Estimation
      $870,000
      4,365 SF

      1668 Blowing Rock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,365 SF
      1668 Blowing Rock Rd, Boone, NC 28607-6144
      View Details
    • Value Estimation
      $795,000
      3,762 SF

      1277 Us Hwy 421st S

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,762 SF
      1277 Us Hwy 421st S, Boone, NC 28607-5726
      View Details
    • Value Estimation
      $785,000
      3,274 SF

      120 Boone Hts Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,274 SF
      120 Boone Hts Dr, Boone, NC 28607-4953
      View Details
    • Value Estimation
      $780,000
      3,740 SF

      1435 Blowing Rock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,740 SF
      1435 Blowing Rock Rd, Boone, NC 28607-6140
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,200 SF

      Established Coffee Shop in Boone, NC

      Turnkey coffee shop with mobile espresso cart in Boone.
      188 Boone Heights Dr, Boone, NC 28607
      View Details
    • $1,188,725
      3,825 SF

      Boone Commercial/Light Industrial Property

      Versatile property with redevelopment potential near Highway 421.
      646 Roby Greene Rd, Boone, NC 28607
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      Watauga County Industrial Park Property

      45,538 SF building on 5.01-acre lot for sale.
      374 Industrial Park Dr, Boone, NC 28607
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    • $1,188,725
      3,825 SF

      Versatile Commercial Property Near Boone

      Commercial/light industrial property with redevelopment potential near Highway 421.
      646 Roby Greene Rd, Boone, NC 28607
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    • $1,600,000

      Prime Retail Space in Boone

      Renovated retail space in historic downtown Boone.
      713 W King St, Boone, NC 28607
      View Details
    • $160,000
      3.21 Acres

      Boone Land with Mountain Views

      3.21 acre lot with mountain views near Boone, NC.
      12 Hartley Knob Rd, Boone, NC 28607
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,761 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces near ASU campus, student housing.
      850 Blowing Rock Rd, Boone, NC 28607
      View Details
    • Contact for pricing

      Commercial Spaces at Peak of Boone

      Mixed-use commercial spaces available for rent in Boone, NC.
      229 Nc-105 Ext, Boone, NC 28607
      View Details
    • Contact for pricing

      Commercial Spaces Near Appalachian State

      Mixed-use property near downtown Boone and Appalachian State University.
      144 Poplar Grove Rd, Boone, NC 28607
      View Details
    • Contact for pricing

      Premier Retail Destination in Boone

      Retail space available in Boone's premier shopping center.
      New Market Ctr, Boone, NC 28607
      View Details
    • Contact for pricing

      Retail Center Near Appalachian State

      Neighborhood retail center anchored by Ingles and Pet Supplies Plus.
      2575 Nc Highway 105 S, Boone, NC 28607
      View Details
    • Contact for pricing

      850 Blowing Rock Rd, Boone, NC 28607

      Office Units
      850 Blowing Rock Rd, Boone, NC 28607
      View Details

    Property Visit Statistics

    • Visits by month
      96.7k
    • Visitors by month
      53.1k
    • Avg Time on site
      19 min
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    Boone, NC 28607-6152
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    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
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