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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Turn key restaurants
227 State St Black Mountain, NC 28711-3408
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-5169375
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,252 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 05/17/2007 DEE
APN
0619-25-9579-00000
UPID
US53-5169375
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
-
Thai Basil Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$583k
Blend (final)
Blend
$590k
Owner & transaction history
Suwana Properties LLC · 1 yrs held
Suwana Properties LLC
since 2025
Last sale
$600,000
4 recorded transactions
Zoning & alternative use
DEED DATE: 05/17/2007 DEE · Black Mountain, 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 Black Mountain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Black Mountain 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
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $600k (Apr 7 2025)
Last sale anchor
$600k
Apr 7 2025
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
$181 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$3,613
Tax year 2024
Assessed value
$430,800
Assessed 2024
Previous assessed
$430,800
+0.0% YoY
Effective rate
0.84%
On assessed value
Land market value
$278,800
Improvement market value
$152,000
Total market value
$430,800
Applied tax rate
25.0000
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
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Total area
3,252 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 05/17/2007 DEE
APN
0619-25-9579-00000
UPID
US53-5169375
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 05/17/2007 DEE · Black Mountain, NC
Zoning DEED DATE: 05/17/2007 DEE · permitted uses
DEED DATE: 05/17/2007 DEE · Black Mountain, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Black Mountain. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Suwana Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
227 W STATE ST, BLACK MOUNTAIN, NC 28711-3408
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jul 7, 2025
$600,000
Suwana Properties LLC
Thai Basil INC
Special Warranty Deed
—
Sep 11, 2024
—
Global Sekai LLC
Thai Basil INC
Lease
—
May 17, 2007
$380,000
Thai Basil INC
Frith Recruiting LLC
Warranty Deed
$255,060 · Bank Of America NA
Dec 10, 2003
$260,000
Frith Recruiting LLC
Carlton,robert M
Grant Deed
—
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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