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

    216 Old Airport Rd, Unit B09 Fletcher, NC 28732-9273

    • Super regional malls
    • 4,800 SF
    • 3.00 lot acres
    OFF-MARKET
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3023113
    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

    • Rathbone Electric / General Contractor
    • Greenwave Fulfillment / Courier Service / Postal Service

    Property Details for 216 Old Airport Rd

    Year built
    2014
    Lot size
    3.00 lot acres
    Property size
    4,800 SF
    Zone code
    9969850~M-1
    Property type
    Super regional malls
    APN
    9653921353
    APU
    9653921353

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,060,000
      6.5%
      $980,000
      7%
      $910,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $823,000
      Market price range: $172k - $823k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,005,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fletcher
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.4949
    Latitude
    35.4373
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN 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
    $392,000
    $1,528,800
    $1,920,800
    -
    $392,000
    $1,528,800
    $1,920,800

    Comparable in this City

    • Value Estimation
      $850,000
      14,625 SF

      195 Cane Crk Rd

      REGIONAL SHOPPING CENTER, MALL • 14,625 SF
      195 Cane Crk Rd, Fletcher, NC 28732-7400
      View Details
    • Value Estimation by Request
      7,440 SF

      Fletcher Commercial Dr

      REGIONAL SHOPPING CENTER, MALL • 7,440 SF
      Fletcher Commercial Dr, Fletcher, NC 28732
      View Details
    • Value Estimation
      $725,000
      11,520 SF

      4020 Hendersonville Rd

      REGIONAL SHOPPING CENTER, MALL • 11,520 SF
      4020 Hendersonville Rd, Fletcher, NC 28732-8222
      View Details
    • Value Estimation
      $1,410,000
      12,500 SF

      103 Underwood Rd

      REGIONAL SHOPPING CENTER, MALL • 12,500 SF
      103 Underwood Rd, Fletcher, NC 28732-8657
      View Details
    • Value Estimation by Request
      3,500 SF

      3747 Hendersonville Rd

      REGIONAL SHOPPING CENTER, MALL • 3,500 SF
      3747 Hendersonville Rd, Fletcher, NC 28732-8249
      View Details
    • Value Estimation by Request
      3,840 SF

      28 Heritage Park Dr

      REGIONAL SHOPPING CENTER, MALL • 3,840 SF
      28 Heritage Park Dr, Fletcher, NC 28732-6618
      View Details

    Similar Nearby for Sale

    • $999,000
      1.73 Acres

      Fletcher Commercial Land Opportunity

      Prime 1.73-acre commercial lot near Airport Road.
      00 Underwood Rd, Fletcher, NC 28732
      View Details
    • $185,000
      2.01 Acres

      Mountain View Homesite in Fletcher

      2.01-acre homesite with mountain views, hiking trails, and community amenities.
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    • $105,000
      2.64 Acres

      Unrestricted Land in Hoopers Creek

      2.64 acres of unrestricted land near Hendersonville.
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    • $2,100,000
      45 SF

      45-Acre Green Paradise Opportunity

      Formerly Southern Tee Short Course & Driving Range near Fletcher Park.
      111 Howard Gap Rd, Fletcher, NC 28732
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    • $13,000,000
      13.97 Acres

      Fletcher Industrial Facility For Sale

      87,000 SF industrial facility with warehouse and office space.
      280 Cane Creek Rd, Fletcher, NC 28732
      View Details
    • $2,495,000
      33.61 Acres

      Fletcher Vacant Land Estate

      33.6-acre estate with remodeled residence, barn, and mountain views.
      193 Duncan Creek Rd, Fletcher, NC 28732
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    Similar Nearby for Lease

    • $7,129 /Mo

      Fletcher Retail/Office Space Available

      Retail or office space in Fletcher, full service gross lease.
      3811 Hendersonville Rd, Fletcher, NC 28732
      View Details
    • $7,129 /Mo
      3,422 SF

      Fletcher Retail or Office Space

      Retail or office space in the heart of Fletcher.
      3811 Hendersonville Rd, Fletcher, NC 28732
      View Details
    • Contact for pricing
      696,960 SF

      Fletcher Industrial Laydown Yard

      Prime NC Land: 3-16 Acres, Fully Fenced
      0 Brickton Dr, Fletcher, NC 28732
      View Details
    • Contact for pricing
      40,000 SF

      Fletcher Industrial Truck Terminal/Warehouse

      Industrial space for lease with fenced yard near I-26.
      Guaranteed Way, Fletcher, NC 28732
      View Details
    • $12 SF/Yr
      360,000 SF

      Quality Point Industrial Space

      Fletcher, NC: Flexible industrial space.
      1 Quality Way, Fletcher, NC 28732
      View Details
    • Contact for pricing
      12,000 SF

      Fletcher Warehouse with Fenced Yard

      12,000 SF warehouse with fenced yard for lease.
      142 Brickton Dr, Fletcher, NC 28732
      View Details
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    216 Old Airport Rd, Unit B09
    Fletcher, NC 28732-9273
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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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