Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23 Lana Ln Burnsville, NC 28714

    This commercial property is situated on 4.28 acres along US Highway 19 in Burnsville, North Carolina. The property includes a tire shop with a service area containing multiple bays, a lobby with restrooms, and parking. The business was previously operated as a tire shop. The property also includes 2.97 acres of additional land. The property is located on a corner lot and is suitable for commercial use or future development.
    • Auto shops
    • 4,400 SF
    • 1.00 lot acres
    For Sale
    View listing
    $675,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2643428
    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

    • Foxx Tire Services / Tire Shop

    Property Details for 23 Lana Ln

    Year built
    1987
    Lot size
    1.00 lot acres
    Property size
    4,400 SF
    Property type
    Auto shops
    APN
    988000854190.000
    APU
    988000854190000

    Property Overview

    This commercial property is situated on 4.28 acres along US Highway 19 in Burnsville, North Carolina. The property includes a tire shop with a service area containing multiple bays, a lobby with restrooms, and parking. The business was previously operated as a tire shop. The property also includes 2.97 acres of additional land. The property is located on a corner lot and is suitable for commercial use or future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Burnsville
    County
    Yancey
    State
    North Carolina
    Longitude
    -82.4164
    Latitude
    35.9144

    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
    2024
    $1,252
    $97,200
    $126,300
    $223,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,160 SF

      718 Main St

      AUTO REPAIR, GARAGE • 2,160 SF
      718 Main St, Burnsville, NC 28714-2740
      View Details
    • Value Estimation by Request
      2,360 SF

      104 Main St

      AUTO REPAIR, GARAGE • 2,360 SF
      104 Main St, Burnsville, NC 28714
      View Details
    • Value Estimation by Request
      5,640 SF

      55 Hortons Crk Rd

      AUTO REPAIR, GARAGE • 5,640 SF
      55 Hortons Crk Rd, Burnsville, NC 28714
      View Details
    • Value Estimation by Request
      1,500 SF

      628 Pne Swamp Rd

      AUTO REPAIR, GARAGE • 1,500 SF
      628 Pne Swamp Rd, Burnsville, NC 28714-8489
      View Details
    • Value Estimation by Request
      2,700 SF

      7545 Us Hwy 19e

      AUTO REPAIR, GARAGE • 2,700 SF
      7545 Us Hwy 19e, Burnsville, NC 28714-5406
      View Details
    • Value Estimation by Request
      3,480 SF

      107 Hillside Dr

      AUTO REPAIR, GARAGE • 3,480 SF
      107 Hillside Dr, Burnsville, NC 28714-3205
      View Details

    Similar Nearby for Sale

    • $675,000
      4.28 Acres

      Commercial Property with Auto Service

      4.28 acres with tire shop on US Highway 19.
      23 Lana Ln, Burnsville, NC 28714
      View Details
    • $720,000
      5,000 SF

      Burnsville Warehouse, Retail, Office Space

      5000 SF warehouse, retail, and office location in Burnsville.
      722 E Main St, Burnsville, NC 28714
      View Details
    • $675,000

      Commercial Land with Auto Shop

      4.28 acres on US Highway 19 with established tire shop.
      23 Lana Ln, Burnsville, NC 28714
      View Details
    • $599,900
      0.04 Acres

      Downtown Burnsville Commercial Gem

      Historic Restaurant, Move-In Ready
      109 Main St, Burnsville, NC 28714
      View Details
    • $75,000
      21 SF

      Yancey County Land for Sale

      21.87+/- acre property with mountain views and stream.
      Elk Shl Crk Rd Burnsville, Burnsville, NC 28714
      View Details
    • Contact for pricing

      Mountain Land Parcel Near Burnsville

      1.47 acre mountain parcel near Pisgah National Forest.
      000 N Ridge Runner Rd, Burnsville, NC 28714
      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.
    23 Lana Ln
    Burnsville, NC 28714
    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

    Google sign-in failed. Please try again or use another login method.