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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Office buildings
280 Main St Mars Hill, NC 28754
Entity Owned
Free & Clear
Property ID
US53-2722425
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Construction
WOOD
Total area
5,096 SF
Lot
1.24 ac (54,014 SF)
Zoning code
R-A
APN
9747-85-7947
UPID
US53-2722425
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
-
Mars Hill Town Hall City Hall
-
Mars Hill Police Department Police Department
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$745k
Owner & transaction history
TOWN MARS HILL
TOWN MARS HILL
Zoning & alternative use
R-A · Mars Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
ZONING ORDINANCE Town of Mars Hill 2021
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 Mars Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mars Hill 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
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$720,000
Current use
RESTAURANT
$655,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$146 / 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
$739,976
Assessed 2023
Previous assessed
$739,976
+0.0% YoY
Assessed land
$163,200
Assessed improvement
$576,776
Land market value
$163,200
Improvement market value
$576,776
Total market value
$739,976
Applied tax rate
1.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
2
Bathrooms
4
Total area
5,096 SF
Lot
1.24 ac (54,014 SF)
Zoning code
R-A
APN
9747-85-7947
UPID
US53-2722425
Jurisdiction
MADISON
Zoning & alternative use
R-A · Mars Hill, NCZoning R-A · permitted uses
R-A · Mars Hill, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
ZONING ORDINANCE Town of Mars Hill 2021
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$720,000
RESTAURANT
Est. value
$655,000
OFFICE BUILDING Current
RESTAURANT
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
1960
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
4
Lot
1.24 ac
Current owner
From public records · entity-resolved
TOWN MARS HILL
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 368, MARS HILL, NC 28754-0368
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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