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    Property profile & analytics

    2691 Poplar Grv S Rd Boone, NC 28607-5490

    • Apartment buildings
    • 1,680 SF
    • 0.97 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2022
    $515,000
    Value Estimations
    $750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2813608
    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

    • Apartment buildings

    Property Details for 2691 Poplar Grv S Rd

    Year built
    1975
    Lot size
    0.97 lot acres
    Property size
    1,680 SF
    Property type
    Apartment buildings
    APN
    1899-77-3265-000
    APU
    1899773265000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $1,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $948,000
      Market price range: $929k - $1.67M
      AI Estimate
      $544,000
      Market price range: $269k - $1.13M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,245,000
      Current use
      COMMERCIAL (GENERAL)
      $1,215,000
      Change: -2% Conversion: Moderate
      RETAIL STORES
      $1,045,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Boone
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.7198
    Latitude
    36.1853
    CBSA code
    14380
    CBSA name
    BOONE, NC MICROPOLITAN 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
    $58,300
    $487,940
    $546,240
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,280,000
      3,850 SF

      397 Perkinsville Dr

      APARTMENT HOUSE (5+ UNITS) • 3,850 SF
      397 Perkinsville Dr, Boone, NC 28607-5337
      View Details
    • Value Estimation
      $3,020,000
      5,000 SF

      206 Psi Dr

      APARTMENT HOUSE (5+ UNITS) • 5,000 SF
      206 Psi Dr, Boone, NC 28607-5910
      View Details
    • Value Estimation by Request
      864 SF

      285 Hodges Vly Rd

      APARTMENT HOUSE (5+ UNITS) • 864 SF
      285 Hodges Vly Rd, Boone, NC 28607-7729
      View Details
    • Value Estimation
      $1,885,000
      5,440 SF

      311 Hardin St

      APARTMENT HOUSE (5+ UNITS) • 5,440 SF
      311 Hardin St, Boone, NC 28607-4898
      View Details
    • Value Estimation
      $43,700,000
      2,592 SF

      Boone, NC 28607

      APARTMENT HOUSE (5+ UNITS) • 2,592 SF
      Boone, NC 28607
      View Details
    • Value Estimation
      $975,000
      3,092 SF

      270 Oak St

      APARTMENT HOUSE (5+ UNITS) • 3,092 SF
      270 Oak St, Boone, NC 28607-4781
      View Details

    Similar Nearby for Sale

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      0.96 acre lot with panoramic views in Boone, NC.
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      Land with Mountain View Potential

      3.59-acre lot near town with mountain view potential.
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      Downtown Boone Commercial Building For Sale

      Historic downtown Boone commercial building with high visibility and foot traffic.
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Spaces Near Appalachian State

      Mixed-use property near downtown Boone and Appalachian State University.
      144 Poplar Grove Rd, Boone, NC 28607
      View Details
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      Premier Retail Destination in Boone

      Retail space available in Boone's premier shopping center.
      New Market Ctr, Boone, NC 28607
      View Details
    • Contact for pricing

      Commercial Spaces at Peak of Boone

      Mixed-use commercial spaces available for rent in Boone, NC.
      229 Nc-105 Ext, Boone, NC 28607
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    • Contact for pricing

      850 Blowing Rock Rd, Boone, NC 28607

      Office Units
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      Retail Center Near Appalachian State

      Neighborhood retail center anchored by Ingles and Pet Supplies Plus.
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    • Contact for pricing

      Land For Lease

      Land available for lease in Boone, NC.
      New Market Ctr, Boone, NC 28607
      View Details
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    Boone, NC 28607-5490
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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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