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Property profile & analytics
OFF-MARKET
Estimated value
$3,185,000
Retail space
239 Frst Gate Dr, Pisgah Forest, NC 28768-7931
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2939231
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1992
Total area
29,970 SF
Lot
4.02 ac (175,111 SF)
Zoning code
C4
APN
8597-56-1525-000
UPID
US53-2939231
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.19M
Owner & transaction history
Belk INC · 6 yrs held
Belk INC
since 2020
3 recorded transactions
Zoning & alternative use
C4 · Pisgah Forest, 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 Pisgah Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pisgah Forest 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
Alternative Use
Use
Estimation
RESTAURANT
$4,835,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$4,455,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$2,780,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.19M
Range $2.87M – $3.50M · ±10%
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
$106 / 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
$15,871
Tax year 2024
Assessed value
$2,630,750
Assessed 2024
Previous assessed
$2,630,750
+0.0% YoY
Effective rate
0.60%
On assessed value
Assessed land
$1,206,000
Assessed improvement
$1,424,750
Land market value
$1,206,000
Improvement market value
$1,424,750
Total market value
$2,630,750
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
2
Total area
29,970 SF
Lot
4.02 ac (175,111 SF)
Zoning code
C4
APN
8597-56-1525-000
UPID
US53-2939231
Jurisdiction
TRANSYLVANIA
Zoning & alternative use
C4 · Pisgah Forest, NC
Zoning C4 · permitted uses
C4 · Pisgah Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pisgah Forest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.8M
WAREHOUSE, STORAGE
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$2.8M
RESTAURANT
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1992
Heating
FORCED AIR
Cooling
Yes
Bathrooms
2
Lot
4.02 ac
Current owner
From public records · entity-resolved
Belk INC
Entity
Mailing address
2801 W TYVOLA RD, CHARLOTTE, NC 28217-4525
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2020
—
Belk INC
—
Deed
related
$2,250,000 · Morgan Stanley SR Fndg
—
—
Belk INC
—
Deed Of Trust
related
$825,000 · Wilmington Tr NA
—
—
Belk INC
—
Deed Of Trust
related
$2,250,000 · Morgan Stanley SR Fndg
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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