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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Turn key restaurants
362 Duke St, Forest City, NC 28043-9196
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-2729407
Property summary
AI-generated overview
This exceptional 32+ acre property in Forest City, NC, presents a rare investment opportunity. The main attraction is the 2,631 square foot Eagle Lake Restaurant, featuring a fully equipped commercial kitchen with walk-in refrigerators and freezers. The restaurant boasts seating for 14 inside and 7 (expandable to 12) on a covered lakeside deck, all offering stunning lake views. A basement bar and two storage rooms provide additional space. The property also includes a 10-acre stocked lake, perfect for fishing, kayaking, and canoeing. Amenities extend to a mowed picnic and camping area with ample shade, three RV sites with full hookups on concrete pads, and a separate tackle and bait shop. Abundant parking is available with two asphalt lots providing 40 spaces. The property is zoned C-3 and features a paved, tree-lined drive. This versatile property is ideal for a variety of uses, including event hosting, and is conveniently located near historic downtown Forest City. The three-phase power supply ensures operational efficiency.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1959
Total area
1,840 SF
Lot
32.36 ac (1,409,602 SF)
Zoning code
C3
APN
1603630
UPID
US53-2729407
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$730k
Owner & transaction history
Shlomo Fisher · 2 yrs held
Shlomo Fisher
since 2024
Last sale
$730,000
4 recorded transactions
Zoning & alternative use
C3 · Forest City, 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 Forest City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest City 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)
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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
$730,000
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$730k
Range $657k – $803k · ±10% · vs last sale $730k (Feb 29 2024)
Last sale anchor
$730k
Feb 29 2024
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
$397 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$6,055
Tax year 2021
Assessed value
$702,800
Assessed 2023
Previous assessed
$702,800
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$590,300
Assessed improvement
$112,500
Land market value
$590,300
Improvement market value
$112,500
Total market value
$702,800
Applied tax rate
4.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1959
Heating
FORCED AIR
Cooling
PARTIAL
Stories
1
Bathrooms
2
Total area
1,840 SF
Lot
32.36 ac (1,409,602 SF)
Zoning code
C3
APN
1603630
UPID
US53-2729407
Jurisdiction
RUTHERFORD
Zoning & alternative use
C3 · Forest City, NC
Zoning C3 · permitted uses
C3 · Forest City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1959
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
32.36 ac
Current owner
From public records · entity-resolved
Shlomo Fisher
Individual
Free & Clear · 2 yrs held
Mailing address
134 PNE RDG DR, FAIRVIEW, NC 28730-9645
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 29, 2024
$730,000
Shlomo Fisher
Majico Dos LLC
Warranty Deed
—
Jun 5, 2023
—
Majico Dos LLC
Majico Company INC
Intrafamily Transfer
related
—
—
—
Majico Co INC
—
Deed Of Trust
related
$70,000 · Branch Banking & Trust Co
—
—
Majico Co INC
—
Deed Of Trust
related
$305,000 · Branch Banking & Trust Co
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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