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Property profile & analytics
OFF-MARKET
Estimated value
$8,475,000
Auto shops
242 Underwood Rd Fletcher, NC 28732-9634
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-1162574
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2015
Total area
51,090 SF
Lot
5.18 ac (225,641 SF)
Zoning code
1007612~C-2
APN
9643747343
UPID
US53-1162574
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
-
ChargePoint Charging Station Electric Vehicle Charging Station
-
Apple Tree Car Rental Car Rental Facility
-
Apple Tree Honda Car Dealership
-
Apple Tree Preowned Car Dealership
-
Apple Tree Honda Service & Parts Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.77M
Blend (final)
Blend
$8.48M
Owner & transaction history
Apple Tree Enterprises INC · 2 yrs held
Apple Tree Enterprises INC
since 2023
5 recorded transactions
Zoning & alternative use
1007612~C-2 · Fletcher, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.8M
+44.0%
Retail stores
$8.6M
+26.7%
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 Fletcher submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fletcher 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
AUTO REPAIR, GARAGE
$6,770,000
Current use
OFFICE BUILDING
$9,755,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$8,580,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,300,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$8.48M
Range $7.63M – $9.32M · ±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
$166 / 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
Property tax & assessments
Assessed value
$11,194,400
Assessed 2024
Previous assessed
$11,194,400
+0.0% YoY
Assessed land
$6,317,900
Assessed improvement
$4,876,500
Land market value
$6,317,900
Improvement market value
$4,876,500
Total market value
$11,194,400
Applied tax rate
40.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2015
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
51,090 SF
Lot
5.18 ac (225,641 SF)
Zoning code
1007612~C-2
APN
9643747343
UPID
US53-1162574
Jurisdiction
HENDERSON
Zoning & alternative use
1007612~C-2 · Fletcher, NC
Zoning 1007612~C-2 · permitted uses
1007612~C-2 · Fletcher, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fletcher. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$6.8M
OFFICE BUILDING
Est. value
$9.8M
RETAIL STORES
Est. value
$8.6M
INDUSTRIAL (GENERAL)
Est. value
$6.3M
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2015
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
5.18 ac
Current owner
From public records · entity-resolved
Apple Tree Enterprises INC
Entity
Mailing address
242 UNDERWOOD RD, FLETCHER, NC 28732-9634
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2023
—
Krafton Locke Enterprises LLC
—
Deed
related
$16,400,000 · First Bank
Sep 8, 2023
—
Apple Tree Enterprises INC
Krafton Locke Enterprises LLC
Lease
—
Sep 9, 2021
—
Krafton Locke Enterprises LLC
—
Deed
related
$12,000,000 · First Bank
Aug 19, 2021
—
Krafton Locke Ebnterprises LLC
Kenneth R Youngbelood
Deed
—
Feb 26, 2019
—
Apple Tree Superstore LLC
Locke,jason S & Jennie C
Grant Deed
related
$714,000 · Branch Bk&tr
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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