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    28 Pleasant Grove Rd Weaverville, NC 28787
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    Property profile & analytics

    28 Pleasant Grove Rd Weaverville, NC 28787

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    • Commercial real estate
    • 13.39 lot acres
    Off-Market
    Property ID
    US53-1332200
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 28 Pleasant Grove Rd

    Lot size
    13.39 lot acres
    Property type
    Commercial real estate
    APN
    9752-23-6735-00000, 975233060600000, 975223726600000, 975223763100000 and 975234143600000

    Description

    This exceptional 13.39-acre property, located at 28 Pleasant Grove Rd, Weaverville, NC 28787, presents a compelling investment opportunity. Situated in the desirable Reems Creek valley, this land boasts rolling topography and convenient access to utilities, making it ideal for residential development. Its proximity to downtown Weaverville, a town experiencing significant economic and population growth, further enhances its appeal. The property benefits from gravity sewer access at its lower end and is bordered by existing and approved residential communities, suggesting seamless integration into the surrounding neighborhood. The R-3 zoning permits a range of residential uses. Please note that a portion of the land falls within a floodplain, and any existing structures on the site have not been assigned a value. The property's APN numbers are 9752-23-6735-00000, 975233060600000, 975223726600000, 975223763100000, and 975234143600000. The asking price for this remarkable land parcel is $1,700,000. This is a rare chance to acquire a substantial tract of land in a thriving community with strong potential for future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Weaverville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5278428
    Latitude
    35.6875065

    Comparable in this City

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      13.83 Acres

      Weaverville Land with Development Potential

      13.83 acres with development potential near Weaverville, North Carolina.
      36 Stockton Branch Rd, Weaverville, NC 28787
      View Details
    • $1,600,000
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      Profitable Short-Term Rental Business

      Turnkey short-term rental business with expansion potential near I-26.
      123 Deer Hill Ln, Weaverville, NC 28787
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    • $999,999
      50.31 Acres

      Weaverville Farm with Mountain Views

      50+ acre farm near Asheville with home and outbuildings.
      25 Elkins Branch Rd, Weaverville, NC 28787
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    • $499,000
      0.98 Acres

      Charming Duplex in Weaverville, NC

      Duplex with creek, pasture views, and level yard.
      280 Flat Creek Church Rd, Weaverville, NC 28787
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    • $2,400,000

      Turnkey Short-Term Rental Business

      Successful short-term rental business with expansion potential near I-26.
      119 Deer Hill Ln, Weaverville, NC 28787
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    • Contact for pricing

      Residential Land with Mountain Views

      6-acre lot with long-range views near Asheville.
      82 Seven Glens Dr, Weaverville, NC 28787
      View Details

    Similar Nearby for Sale

    • $749,500
      13.83 Acres

      Weaverville Land with Development Potential

      13.83 acres with development potential near Weaverville, North Carolina.
      36 Stockton Branch Rd, Weaverville, NC 28787
      View Details
    • $1,600,000
      1,582 SF

      Profitable Short-Term Rental Business

      Turnkey short-term rental business with expansion potential near I-26.
      123 Deer Hill Ln, Weaverville, NC 28787
      View Details
    • $999,999
      50.31 Acres

      Weaverville Farm with Mountain Views

      50+ acre farm near Asheville with home and outbuildings.
      25 Elkins Branch Rd, Weaverville, NC 28787
      View Details
    • $499,000
      0.98 Acres

      Charming Duplex in Weaverville, NC

      Duplex with creek, pasture views, and level yard.
      280 Flat Creek Church Rd, Weaverville, NC 28787
      View Details
    • $2,400,000

      Turnkey Short-Term Rental Business

      Successful short-term rental business with expansion potential near I-26.
      119 Deer Hill Ln, Weaverville, NC 28787
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      1,437,480 SF

      Arts-Based Hub with Retail Spaces

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      1 Balcrank Way, Weaverville, NC 28787
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    • Contact for pricing

      Versatile Commercial Space Near I-26

      4,000 SF commercial space with warehouse, retail, and office functionality.
      82 Old Mars Hill Hwy, Weaverville, NC 28787
      View Details
    • Contact for pricing

      Industrial Flex Complex in Weaverville

      400,000 SF flex complex with office and warehouse spaces.
      108 Monticello Rd, Weaverville, NC 28787
      View Details
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    Weaverville, NC 28787
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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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    28 Pleasant Grove Rd, Weaverville, NC, 28787
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