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    4255 Henry River Rd Hickory, NC 28602
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    4255 Henry River Rd, Hickory, NC 28602

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    • Commercial real estate
    • 28.87 lot acres
    For Sale
    $1,150,000
    View Listing →
    Historic Mill Village with Airbnb For Sale
    $1,150,000
    6,000 SF

    Historic Mill Village with Airbnb

    Historic textile mill village with Airbnb and restoration potential.

    4255 Henry River Road, Hickory, NC 28602
    View Listing
    Property ID
    US53-3003106
    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

    • Henry River Mill Village / Hotel & Motel / Resort

    Property Details for 4255 Henry River Rd

    Lot size
    28.87 lot acres
    Property type
    Commercial real estate

    Description

    This unique 28.87-acre property in Hickory, NC, boasts a rich history as the filming location for "The Hunger Games." The property includes a fully renovated Airbnb generating over $20,000 annually, plus 19 historic mill houses (built in 1905), a 6,000 sq ft company store, and numerous outbuildings. Currently operating as a historic site with annual revenues exceeding $50,000 from admissions and gift shop sales, this property offers significant redevelopment potential. Its prime location, less than a mile from I-40 exit 119, ensures high visibility and accessibility. The property's inclusion in the National Register of Historic Places opens doors to substantial state and federal tax credits (up to 40%). The Henry Fork River borders the property on three sides, presenting opportunities for outdoor recreation businesses, aligning perfectly with the planned North Carolina Wilderness Gateway Trail. This investment opportunity combines historical significance, proven revenue streams, and exceptional development potential, making it a truly unique offering. The property also benefits from its prominent placement on TripAdvisor as one of Hickory's top attractions and has been featured on several television shows. Five books have been written about the property, four of which are currently available on Amazon.

    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
    Hickory
    County
    Burke
    State
    North Carolina
    Longitude
    -81.4282644
    Latitude
    35.6969984

    Comparable in this City

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      Hickory NC Multifamily Investment

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    Similar Nearby for Sale

    • $2,300,000
      11.28 Acres

      Hickory Land Redevelopment Opportunity

      11.28 acres ideal for commercial or multi-family redevelopment.
      1100 Zion Church Rd, Hickory, NC 28602
      View Details
    • $389,500
      0.67 Acres

      Hickory Multi-Family Home

      Multi-family home on a generous 0.67-acre lot.
      615 11Th St SW, Hickory, NC 28602
      View Details
    • New
      $1,570,000
      0.40 Acres

      Five Townhome Rental Portfolio

      For sale five two-story townhomes with 3 bedrooms, 2.1 baths, and attached garages in Hickory, NC.
      2119 St Ln SE, Hickory, NC 28602
      View Details
    • $750,000
      600 SF

      Hickory NC Multifamily Investment

      Multifamily investment opportunity with 10 units on approximately 2.4 acres.
      303 37Th St SW, Hickory, NC 28602
      View Details
    • $675,000
      600 SF

      Hickory NC Multifamily Investment Opportunity

      Multifamily investment opportunity featuring 12 units on approximately 2.5 acres.
      218 37Th St SW, Hickory, NC 28602
      View Details
    • $385,000
      0.15 Acres

      Well-Maintained Duplex in Hickory, NC

      Desirable duplex with long-term tenants, full brick exterior, and upgrades.
      328-330 3Rd Ave SE, Hickory, NC 28602
      View Details

    Similar Nearby for Lease

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      Hickory, NC Commercial Land Opportunity

      Prime 1-Acre Commercial Lot in Hickory
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      Commercial Land For Lease

      Land and outparcels available for lease in Hickory, NC.
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      60,152 SF

      Premier Headquarters Space in Hickory

      High-quality office space in a well-established business park.
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      Retail Space in Hickory, NC

      Retail space available at Valley Hills Mall on Highway 70.
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      Adaptable Office Space Near I-40

      6,400 sq ft commercial space suitable for various business needs.
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      Hickory NC Retail Space

      Retail space available for rent in Hickory, North Carolina.
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    Hickory, NC 28602
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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.

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