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Property profile & analytics
OFF-MARKET
Estimated value
$4,345,000
Hotels
310 State St, Black Mountain, NC 28711-3411
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-5642987
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1938
Construction
BRICK
Total area
24,481 SF
Lot
2.61 ac (113,692 SF)
Zoning code
DEED DATE: 2023-09-14 DEE
APN
0619-25-3447-00000
UPID
US53-5642987
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
-
Robo Car Wash Car Wash
-
Robo Oil Co Gas Station
-
Peggy King Artist
-
TRICO Gas Station
-
Bitty Bits Mosaics Artist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.35M
Owner & transaction history
Nc I Ridgeline LLC · 2 yrs held
Nc I Ridgeline LLC
since 2023
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
DEED DATE: 2023-09-14 DEE · Black Mountain, 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 Black Mountain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Black Mountain 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
$3,370,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,605,000
Current use
MEDICAL BUILDING
$5,525,000
Change: -16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,470,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.35M
Range $3.91M – $4.78M · ±10% · vs last sale $4.10M (Sep 14 2023)
Last sale anchor
$4.10M
Sep 14 2023
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
$177 / 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
$22,118
Tax year 2024
Assessed value
$5,275,000
Assessed 2024
Previous assessed
$5,275,000
+0.0% YoY
Effective rate
0.42%
On assessed value
Land market value
$1,136,900
Improvement market value
$4,138,100
Total market value
$5,275,000
Applied tax rate
25.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1938
Construction
BRICK
Heating
NONE
Cooling
YES
Buildings
3
Stories
3
Total area
24,481 SF
Lot
2.61 ac (113,692 SF)
Zoning code
DEED DATE: 2023-09-14 DEE
APN
0619-25-3447-00000
UPID
US53-5642987
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-09-14 DEE · Black Mountain, NC
Zoning DEED DATE: 2023-09-14 DEE · permitted uses
DEED DATE: 2023-09-14 DEE · Black Mountain, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Black Mountain. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$6.6M
MEDICAL BUILDING
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$5.5M
HOTEL/MOTEL Current
MEDICAL BUILDING
COMMERCIAL (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
1938
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
3
Buildings
3
Lot
2.61 ac
Current owner
From public records · entity-resolved
Nc I Ridgeline LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 682, CLAYTON, GA 30525-0018
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2023
$4,459,000
Nc I Ridgeline LLC
Mv Boutique Hotel LLC
Special Warranty Deed
—
Sep 14, 2023
—
Nc I Ridgeline LLC
Mv Boutique Hotel LLC
Deed
—
Feb 1, 2018
$3,000,000
Mv Boutique Hotel LLC
Monte Vista Of Black Mtn LLC
Grant Deed
$3,000,000 · Monte Vista Of Black Mtn LLC
Sep 23, 2010
$800,000
Monte Vista Of Black Mtn LLC
Carolina First Bk
Grant Deed
—
Dec 23, 2009
$716,500
Carolina First Bank
Mvh LLC
Grant Deed
related
—
Mar 17, 2005
$1,050,000
Mwb Properties LLC
Monte Vista Hotel INC
Warranty Deed
—
Mar 17, 2005
—
Mvh LLC
Mwb Properties LLC
Warranty Deed
related
—
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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